The Imperative for Diversity in Fashion’s C-Suite

Why embracing diverse leadership is the key to unlocking growth and relevance in the evolving luxury market

October 10, 2024

Tamla Barazi

Tamla Barazi brings over 20 years of experience in fashion and luxury, including nearly a decade as Marketing Director at Michael Kors, where she played a key role in shaping the brand’s expansion across Europe and emerging markets. Known for championing diversity and inclusion, Tamla stays deeply connected to cultural shifts and consumer behavior. Now, as a CMO-level brand advisor, she helps brands craft forward-thinking marketing strategies to remain relevant in an ever-changing industry.

Luxury fashion is not having a good time – the struggle is very real. After years of rapid growth, the industry is now grappling with stagnating sales, shifting consumer values, and increasing pressure to stay relevant in a fast-moving, digital-first world. The pandemic accelerated shifts in buying behaviour, with younger, more diverse consumers demanding sustainability, authenticity, and social responsibility from brands. But instead of adapting, many luxury houses are clinging to the old ways.

The answer to this challenge? It’s simple. Diversify your people, and you’ll connect with your consumers. It’s that straightforward.

Consumers today don’t want brand-first elitism. They care less about the air of exclusivity you’ve built over decades. They want actual connection, transparency, and to feel something real. Luxury fashion is having such a hard time grasping the concept of consumer-first because it’s stuck in a brand-first blueprint, with the same revolving-door C-suites, where familiar faces cycle between houses, trying to squeeze yesterday’s strategies into today’s world.

My own experience in fashion reflects this evolution. I did not enter the industry through the traditional paths. As the child of immigrants without access to prestigious schools or family connections, I’ve encountered challenges rooted in elitism – issues that can present real barriers for many in the industry. But I’ve built my career through grit, a killer work ethic, and a refusal to accept limitations. This kind of tenacity is something luxury brands could benefit from embracing, as looking at the world through a broader lens is essential for staying relevant.

Luxury fashion’s biases, whether conscious or unconscious, keep the industry locked in a bubble. When the same small circle of executives and creatives is called upon time and again, it’s not just a missed opportunity for fresh perspectives; it perpetuates a cycle of bias that reinforces who is “worthy” of being at the top. Too often, brands cling to people who look, think, and act like they do, rather than embracing the diverse talent that can actually drive innovation and global connection.

Looking to the Future: How luxury fashion can embrace diversity

Here’s the hard truth: commercial success in 2025 hinges on how well you understand your consumer. That’s it. If your growth markets are in India, China, the Middle East, and Africa, and your leadership team is still made up of the usual suspects – you may find it difficult to succeed. You can’t effectively engage diverse markets when your decision-makers don’t reflect the people they’re selling to.

Luxury has to stop recycling talent from the same insular circles and start bringing in leaders who have real insight into the cultures, values, and aspirations of their global consumers. It’s not about hiring for optics; it’s about hiring for real, lasting impact.

As a self-made individual, I’m clear on what I bring to the table: sharpness, creativity and resilience. But because I don’t check the invisible ‘luxury fit’ checklist, I’ve had to work harder to prove my worth. Too often, my value seems limited to how I can “serve” the C-suite, not lead it. While it’s a joy to celebrate the few women of colour who’ve made it to the top, like Leena Nair, the British-Indian CEO of Chanel, it’s only one drop in the ocean when the industry remains one where less than 1% of CEOs are women of colour.

Luxury fashion needs to change and consumers are demanding change.They want more than just a product – they want a brand they can relate to, one that understands them. If luxury fashion continues to resist this shift, it will miss the mark again and again.

But here’s the exciting part: the opportunity for luxury brands to evolve has never been greater. Those that embrace diversity – of thought, leadership, and creativity – have the chance to redefine what luxury means in this new era. By reflecting the rich cultures and experiences of their consumers, they can build deeper connections, and reignite the magic that made luxury aspirational in the first place.

Key insights

  • C-Suite Diversity is Essential for Growth: Luxury brands must diversify their leadership at the highest levels to better understand and connect with the diverse global markets driving their future success.
  • Consumer-First Strategies Drive Commercial Performance: A brand-first, top-down approach is no longer effective; brands must prioritize consumer connection to stay competitive and grow.
  • Aspirational Luxury is Now About Inclusivity: Today’s consumers value connection and inclusivity over exclusivity, redefining luxury as a more meaningful and personal experience.