🧭 导读：
全球奢侈品市场连续两年萎缩，美国品牌却逆势崛起。Ralph Lauren、Coach和The Row跻身热门前十。成功源于战略调整：翻新门店、直营销售、吸引年轻客群。同时，美系定价更亲民（Coach主流价位200-500美元），而欧洲品牌价格已是其5-10倍。“安静奢华”趋势也助力美系。欧洲主导的旧秩序正面临挑战。
From Ralph Lauren to The Row, American luxury is booming
从Ralph Lauren到The Row，美国奢侈品正在蓬勃发展
📌 生词：luxury /ˈlʌkʃəri/ 奢侈品；booming /ˈbuːmɪŋ/ 蓬勃发展的
📌 短语：from...to... 从…到…
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Can the old world fight back?
旧世界能反击吗？
📌 短语：fight back 反击
📌 文化背景：“old world” 这里指欧洲，相对于美洲“新世界”。
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A mannequin dressed in Polo Ralph Lauren clothing reflected in a mirror at the Ralph Lauren Flagship Men's store in New York, US / Photograph: Getty Images
一个穿着Polo Ralph Lauren服装的人体模型映照在纽约Ralph Lauren男士旗舰店的镜子里 / 图片来源：Getty Images
📌 生词：mannequin /ˈmænɪkɪn/ 人体模型；flagship /ˈflæɡʃɪp/ 旗舰店
📌 文化背景：Getty Images 是全球最大的图片库之一。
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It is a miserable time for most purveyors of fancy handbags and pricey frocks. Following a post-pandemic boom, spending on personal-luxury goods worldwide has contracted in both of the past two years, according to Bain, a consultancy. War in the Middle East—and the resulting shock to the global economy—has luxury brands braced for further gloom. On April 13th LVMH, the industry’s colossus, reported that sales of its clothes and leather goods in the first three months of 2026 were down by 2% from the year before—the seventh consecutive quarter of decline.
对于大多数 fancy 手袋和昂贵裙装的供应商来说，这是一个悲惨的时期。根据咨询公司贝恩的数据，在疫情后的繁荣之后，全球个人奢侈品消费在过去两年中均出现收缩。中东战争——及其对全球经济造成的冲击——让奢侈品牌准备迎接进一步的阴霾。4月13日，行业巨头LVMH报告称，其2026年前三个月的服装和皮革制品销售额同比下降2%——这是连续第七个季度下滑。
📌 生词：miserable /ˈmɪzrəbl/ 悲惨的；purveyors /pəˈveɪəz/ 供应商；fancy /ˈfænsi/ 花哨的，高档的；pricey /ˈpraɪsi/ 昂贵的；frocks /frɒks/ 连衣裙；contracted /kənˈtræktɪd/ 收缩；consultancy /kənˈsʌltənsi/ 咨询公司；braced /breɪst/ 准备（面对不愉快的事）；gloom /ɡluːm/ 阴霾，低迷；colossus /kəˈlɒsəs/ 巨人，巨头；consecutive /kənˈsekjətɪv/ 连续的
📌 短语：resulting shock 由此产生的冲击；be braced for 准备好面对
📌 文化背景：LVMH（路威酩轩）是全球最大的奢侈品集团，旗下拥有路易威登、迪奥、纪梵希等75个品牌。贝恩（Bain）是全球顶级管理咨询公司之一。
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Yet one group of labels has been surprisingly perky lately: American ones. Europe’s maisons have long dominated the luxury business. Lyst, an e-commerce site, maintains a ranking of the hottest labels in fashion based on sales, online searches and social-media activity. Five years ago none of the top ten was American. Now three make the cut—Ralph Lauren, Coach and The Row. In the final three months of 2025 Ralph Lauren’s revenue rose by 10% year on year. Sales at Coach were up by 25%, resulting in a record quarter for its owner, Tapestry. The two companies’ share prices have risen by 89% and 135%, respectively, over the past year. What is behind the new world’s newfound success?
然而，最近有一类品牌出人意料地活跃：美国品牌。欧洲的时装屋长期主导奢侈品行业。电商网站Lyst根据销量、在线搜索和社交媒体活动维护着一个时尚最热门品牌排名。五年前，前十名中没有美国品牌。现在有三个上榜——Ralph Lauren、Coach和The Row。在2025年最后三个月，Ralph Lauren的收入同比增长10%。Coach的销售额增长了25%，为其母公司Tapestry带来了创纪录的季度业绩。过去一年，这两家公司的股价分别上涨了89%和135%。新世界新获得的成功背后是什么？
📌 生词：perky /ˈpɜːki/ 活跃的，精神饱满的；maisons /meɪˈzɒ̃/ 时装屋（法语）；dominated /ˈdɒmɪneɪtɪd/ 主导；maintains /meɪnˈteɪnz/ 维护；make the cut /meɪk ðə kʌt/ 入围，上榜；revenue /ˈrevənjuː/ 收入；respectively /rɪˈspektɪvli/ 分别地；newfound /ˈnjuːfaʊnd/ 新获得的
📌 短语：year on year 同比；resulting in 导致
📌 文化背景：Lyst 是总部位于伦敦的时尚电商平台，其季度热门品牌报告在业内具有影响力。“新世界”指美洲，“旧世界”指欧洲。Tapestry 是美国奢侈品集团，旗下拥有Coach、Kate Spade等。
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Shifts in strategy are part of the explanation. At Ralph Lauren, a years-long turnaround is now paying off. The company has refreshed its product line-up, taken greater control over distribution and revamped its tired shops. Many of its larger stores now house coffee bars and restaurants; David Lauren, the founder’s son, who oversees branding and innovation, says that people visit “because they love the ambience”. Average selling prices (what shoppers pay after discounts) have risen every quarter for almost nine years. The firm also now spends over 7% of its sales on marketing, twice the figure a decade ago. With clear results: every fashion influencer worth their ring-light has one of the brand’s pony-logo caps.
战略转变是部分原因。在Ralph Lauren，长达数年的转型正在见效。该公司更新了产品线，加强了对分销的控制，并翻新了其陈旧的门店。许多大店现在设有咖啡吧和餐厅；创始人儿子、负责品牌与创新的David Lauren表示，人们光顾“是因为他们喜欢这里的氛围”。平均售价（购物者打折后支付的价格）近九年来每个季度都在上涨。该公司现在还将销售额的7%以上用于营销，是十年前的两倍。效果明显：每个称职的时尚影响者都有一顶该品牌的小马标志帽子。
📌 生词：turnaround /ˈtɜːnəraʊnd/ 转型，好转；paying off /ˈpeɪɪŋ ɒf/ 见效，回报；refreshed /rɪˈfreʃt/ 更新；line-up /ˈlaɪn ʌp/ 产品系列；distribution /ˌdɪstrɪˈbjuːʃən/ 分销；revamped /riːˈvæmpt/ 翻新，改造；ambience /ˈæmbiəns/ 氛围；oversees /ˌəʊvəˈsiːz/ 监督；influencer /ˈɪnfluənsə/ 网红；ring-light /ˈrɪŋ laɪt/ 环形补光灯；pony-logo /ˈpəʊni ˈləʊɡəʊ/ 小马标志
📌 短语：worth their ring-light 称职的（幽默说法，指网红必备环形灯）
📌 文化背景：Ralph Lauren 的小马标志是其Polo系列的经典标识。环形补光灯是网红拍摄视频的标准装备，这里幽默地代指“真正的网红”。
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More recently, Coach has followed a similar playbook. It has abandoned crumbling malls and department stores and shed its reputation as the go-to label for discounted bags. It now sells almost 90% of its products directly to customers. Campaigns featuring pop stars such as Selena Gomez, and a push into customisable charms for bags, have lured younger shoppers.
最近，Coach也采取了类似的策略。它放弃了破败的购物中心和百货商店，并摆脱了作为折扣包首选品牌的名声。现在，其近90%的产品直接销售给顾客。以Selena Gomez等流行歌手为主角的营销活动，以及对可定制包袋挂饰的推广，吸引了更年轻的消费者。
📌 生词：playbook /ˈpleɪbʊk/ 策略手册，剧本；crumbling /ˈkrʌmblɪŋ/ 破败的，崩溃的；shed /ʃed/ 摆脱；go-to /ˈɡəʊ tuː/ 首选的，必去的；customisable /ˈkʌstəmaɪzəbl/ 可定制的；charms /tʃɑːmz/ 挂饰， charms；lured /ljʊəd/ 吸引
📌 短语：follow a similar playbook 采取类似策略
📌 文化背景：Selena Gomez 是美国著名歌手、演员，Instagram粉丝超过4亿，是品牌理想的代言人。Coach的包袋挂饰（bag charms）是其近年年轻化战略的重要产品。
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Other forces are also giving these American labels a leg up. Preppy looks and ’90s throwbacks are in vogue. Online searches for Ralph Lauren’s quarter-zip sweaters jumped by 132% year on year in the last quarter of 2025, reckons Lyst.
其他力量也在助推这些美国品牌。学院风造型和90年代复古风正在流行。Lyst估计，2025年最后一个季度，Ralph Lauren半拉链毛衣的在线搜索量同比增长了132%。
📌 生词：a leg up /ə leɡ ʌp/ 助推，帮助；preppy /ˈprepi/ 学院风的（常春藤风格）；throwbacks /ˈθrəʊbæks/ 复古，回归；in vogue /ɪn vəʊɡ/ 流行；quarter-zip /ˈkwɔːtə zɪp/ 半拉链（领口有短拉链的毛衣）；reckons /ˈrekənz/ 估计
📌 短语：in vogue 流行
📌 文化背景：Preppy风格源于美国东北部精英预科学校的着装，以Polo衫、卡其裤、毛衣为代表。90年代复古近年因影视剧和网红推动再次流行。
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The global economic environment is on the side of the American brands, too. Shoppers in their home market have been more resilient than those elsewhere. Spending on luxury items rose slightly in America last year, according to Bain, even as it declined in Europe and Asia, where the old world’s labels dominate. The strengthening of the euro against the dollar and, to a lesser extent, the yuan and the yen over the past year has made it more expensive for tourists in Paris and Milan to splurge on French and Italian brands.
全球经济环境也站在美国品牌一边。美国本土市场的消费者比其他地区更具韧性。贝恩的数据显示，去年美国奢侈品支出略有上升，而在欧洲和亚洲（旧世界品牌占主导地位）则出现下降。过去一年，欧元兑美元走强（兑人民币和日元也有升值，但幅度较小），使得在巴黎和米兰的游客购买法国和意大利品牌变得更加昂贵。
📌 生词：on the side of /ɒn ðə saɪd əv/ 站在…一边；resilient /rɪˈzɪliənt/ 有韧性的，恢复力强的；strengthening /ˈstreŋθənɪŋ/ 走强，升值；to a lesser extent /tuː ə ˈlesər ɪkˈstent/ 在较小程度上；splurge /splɜːdʒ/ 挥霍，大肆花钱
📌 短语：be on the side of 有利于
📌 文化背景：欧元升值意味着用美元、人民币、日元在欧洲消费时成本更高，促使游客减少在欧洲购买奢侈品，或转向价格更低的市场。
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The fact that American designer brands tend on the whole to be less expensive than those from European rivals has also helped at a time when stretched consumers around the world are looking for cheaper alternatives. Sandeep Seth of Tapestry argues that the $200-500 that most Coach bags go for is currently the “sweet spot” for the market. JPMorgan Chase, a bank, reckons that European luxury labels’ bags now cost 5-10 times those from Coach, up from 2-3 times 15 years ago.
美国设计师品牌整体上比欧洲竞争对手更便宜，这也起到了帮助作用，因为全球各地手头拮据的消费者都在寻找更便宜的替代品。Tapestry的Sandeep Seth认为，Coach大多数包袋200-500美元的价位目前是市场的“甜蜜点”。摩根大通银行估计，欧洲奢侈品牌包袋现在的价格是Coach的5到10倍，而15年前是2到3倍。
📌 生词：on the whole /ɒn ðə həʊl/ 总体上；stretched /stretʃt/ 拮据的，紧张的；alternatives /ɔːlˈtɜːnətɪvz/ 替代品；sweet spot /ˈswiːt spɒt/ 最佳点位，甜蜜点
📌 短语：go for 售价为；up from 高于（之前数据）
📌 文化背景：“甜蜜点”原指网球拍或高尔夫球杆的最佳击球区域，引申为市场中最具性价比或最受欢迎的价格区间。
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Cashmere-clad European bosses will pooh-pooh all this: “affordable luxury”, they say, is an oxymoron. Their American counterparts beg to differ. Luxury is defined not by price, but “by the experience you provide”, contends Patrice Louvet, Ralph Lauren’s chief executive.
身着羊绒的欧洲老板们会对这一切嗤之以鼻：“负担得起的奢侈品”，他们说，是一个矛盾修辞法。他们的美国同行则不敢苟同。Ralph Lauren首席执行官Patrice Louvet认为，奢侈品的定义不是价格，而是“你所提供的体验”。
📌 生词：cashmere-clad /ˈkæʃmɪə klæd/ 身着羊绒的；pooh-pooh /puː puː/ 嗤之以鼻，对…不屑一顾；oxymoron /ˌɒksɪˈmɔːrɒn/ 矛盾修辞法（如“ bittersweet”）；counterparts /ˈkaʊntəpɑːts/ 对应的人/物；contends /kənˈtendz/ 主张，认为
📌 短语：beg to differ 不敢苟同
📌 文化背景：羊绒是欧洲奢侈品牌常用的高档面料，“身着羊绒的欧洲老板”形象地描绘了欧洲奢侈品精英阶层。矛盾修辞法指两个相互矛盾的词组合在一起，如“affordable luxury”中“affordable”（买得起的）与“luxury”（奢侈的）在传统观念中是矛盾的。
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Moreover, American brands have shown that they can occupy the swankiest end of the luxury industry when they choose to. Ralph Lauren caters both to the merely well-off, with its Polo products, and the stinking rich, with its Purple Label line. Then there is The Row, which sells $5,000 bags and $12,000 coats. The brand, founded by Mary-Kate and Ashley Olsen, two former child actors, focuses on the kind of understated designs that have thrived amid the growing demand from today’s plutocrats for so-called “quiet luxury”. The ability of the Olsen twins to persuade stars such as Kendall Jenner and Zoë Kravitz to wear their products, while restricting distribution, has created a sense among shoppers that they must earn the “right to buy”, says Flavio Cereda of GAM, an asset manager. “It’s an excellent marketing machine,” he adds.
此外，美国品牌已经证明，只要他们愿意，他们可以占据奢侈品行业最顶端的部分。Ralph Lauren通过其Polo产品服务于普通富裕阶层，通过其紫标系列服务于极其富有的人群。还有The Row，销售5000美元的包袋和12000美元的外套。该品牌由两位前童星Mary-Kate和Ashley Olsen创立，专注于低调的设计，在当今富豪对所谓“安静奢华”日益增长的需求中蓬勃发展。资产管理公司GAM的Flavio Cereda表示，Olsen双胞胎姐妹能够说服Kendall Jenner和Zoë Kravitz等明星穿着他们的产品，同时限制分销，这在消费者中制造了一种感觉：他们必须赢得“购买权”。“这是一台出色的营销机器，”他补充道。
📌 生词：swankiest /ˈswæŋkiɪst/ 最奢华的，最时髦的；cater to /ˈkeɪtə tu/ 迎合；merely /ˈmɪəli/ 仅仅；well-off /ˈwel ɒf/ 富裕的；stinking rich /ˈstɪŋkɪŋ rɪtʃ/ 极其富有的（俚语）；understated /ˌʌndəˈsteɪtɪd/ 低调的，朴素的；thrived /θraɪvd/ 蓬勃发展；plutocrats /ˈpluːtəkræts/ 富豪，财阀；quiet luxury /ˈkwaɪət ˈlʌkʃəri/ 安静奢华；restricting /rɪˈstrɪktɪŋ/ 限制；distribution /ˌdɪstrɪˈbjuːʃən/ 分销
📌 短语：when they choose to 当他们愿意的时候；earn the right to buy 赢得购买权
📌 文化背景：“安静奢华”指没有明显logo、设计简约但用料和工艺极好的奢侈品，近年来因电视剧《继承之战》等流行而备受富豪青睐。Mary-Kate和Ashley Olsen是《欢乐满屋》童星出身，长大后转型为时装设计师。Kendall Jenner和Zoë Kravitz都是顶流明星和时尚偶像。限制分销（不公开大量铺货）是制造稀缺感和排他性的经典奢侈品营销手段。
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None of this will suddenly make America the new centre of gravity for the global luxury industry. Three of the world’s four top fashion shows still take place in Europe. And plenty of American labels are struggling. Tapestry has failed to turn around Kate Spade, another fashion business it owns, and last year sold off Stuart Weitzman, a shoe brand, amid flagging sales. Capri Holdings, a rival American luxury group, has struggled as Michael Kors, its biggest label, has fallen out of favour with shoppers. After being blocked by trustbusters from merging with Tapestry in 2024, it sold Versace to Prada to help pay off its debts.
这一切都不会突然使美国成为全球奢侈品行业的新重心。全球四大顶级时装秀中仍有三个在欧洲举办。而且许多美国品牌正在挣扎。Tapestry未能扭转其旗下另一个时尚品牌Kate Spade的颓势，去年又在销售疲软的情况下出售了鞋履品牌Stuart Weitzman。竞争对手美国奢侈品集团Capri Holdings也在挣扎，因为其最大品牌Michael Kors已失宠于消费者。在2024年被反垄断机构阻止与Tapestry合并后，它将Versace出售给Prada以帮助偿还债务。
📌 生词：centre of gravity /ˈsentər əv ˈɡrævəti/ 重心；plenty of /ˈplenti əv/ 许多；turn around /tɜːn əˈraʊnd/ 扭转，使好转；flagging /ˈflæɡɪŋ/ 疲软的，衰退的；rival /ˈraɪvl/ 竞争对手；fallen out of favour /ˈfɔːlən aʊt əv ˈfeɪvə/ 失宠；trustbusters /ˈtrʌstbʌstəz/ 反垄断机构；blocked /blɒkt/ 阻止；merging /ˈmɜːdʒɪŋ/ 合并
📌 短语：sell off 低价出售；pay off debts 偿还债务
📌 文化背景：四大时装周分别是纽约、伦敦、米兰、巴黎，其中三个在欧洲。Michael Kors曾是轻奢领域的成功品牌，但近年因过度打折和品牌形象稀释而下滑。2023年美国联邦贸易委员会（FTC）起诉阻止Tapestry与Capri合并，理由是担心垄断轻奢手袋市场，2024年法院支持了FTC的禁令。
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For their part, European labels are doing everything they can to revive sales. Many, including Chanel and Gucci, have hired new creative directors in the past year or so. Having irked shoppers with hefty price increases as luxury spending soared after the pandemic, they are now making up for it by adding cheaper wares to their line-ups and holding constant the prices of high-end ones. Whether or not this revives their fortunes, the old assumption that only Europe can do luxury looks increasingly outmoded. ■
就欧洲品牌而言，它们正在竭尽全力重振销售。包括Chanel和Gucci在内的许多品牌在过去一年左右都聘请了新的创意总监。在疫情后奢侈品消费飙升期间，它们大幅涨价惹恼了消费者，现在正通过在产品线中增加更便宜的商品并保持高端产品价格不变来弥补。无论这是否能重振它们的命运，那种只有欧洲能做奢侈品的旧假设正显得越来越过时。■
📌 生词：revive /rɪˈvaɪv/ 重振，复苏；irked /ɜːkt/ 惹恼；hefty /ˈhefti/ 大幅的，沉重的；wares /weəz/ 商品；holding constant /ˈhəʊldɪŋ ˈkɒnstənt/ 保持恒定；assumption /əˈsʌmpʃən/ 假设；outmoded /ˌaʊtˈməʊdɪd/ 过时的
📌 短语：do everything they can 竭尽全力；make up for it 弥补
📌 文化背景：Chanel 2024年任命了新创意总监Matthieu Blazy（前Bottega Veneta设计师）；Gucci 2023年任命Sabato De Sarno接替Alessandro Michele。创意总监是奢侈品牌的艺术灵魂，更换通常意味着风格和战略的重大调整。
