Vogue and life-style business in disaster: CFOs don’t anticipate a fast restoration

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• Structural shift slightly than non permanent droop: 83 p.c of CFOs don’t anticipate a major income restoration in 2026, and simply as many view the persistent financial weak point as their greatest problem
• Liquidity takes heart stage: Liquidity planning and efficiency packages prime the CFO agenda, every cited by 63 p.c of respondents
• Restructuring turns into a necessity: 86 p.c of corporations are already implementing such packages, and 92 p.c are seeing preliminary measurable impacts on earnings and profitability

Munich, August 2026: The vogue and life-style business in German-speaking international locations is going through a brand new actuality: the continuing interval of weak point is now not a cyclical downturn however an indication of structural change. This is the discovering of the newest “CFO Pulse Survey 2026: Beyond the Catwalk” by Roland Berger. The examine surveyed CFOs from greater than 30 main vogue and life-style corporations within the DACH area.

83 p.c of the CFOs surveyed establish the persistent financial weak point because the business’s biggest problem—a rise of ten share factors in comparison with 2025. At the identical time, 83 p.c don’t anticipate a major income restoration this 12 months. Geopolitical instability has additionally reached a peak, cited by 71 p.c. Consequently, many corporations are more and more caught between stagnating revenues, rising aggressive strain, and rising prices.

Reluctance to purchase is now affecting just about all segments. While the disaster initially weighed totally on the mainstream enterprise, 60 p.c of CFOs now anticipate a deterioration within the premium phase as nicely, with 43 p.c anticipating the identical for the posh sector. Alongside weak demand, prices proceed to rise; CFOs challenge will increase of round six p.c in vitality and logistics prices. Sentiment amongst financiers has additionally soured: half of the respondents view their financing companions’ stance extra negatively than within the earlier 12 months, and 43 p.c anticipate additional deterioration. Consequently, liquidity is changing into a key administration metric.

This is mirrored in CFO priorities: liquidity planning and efficiency packages are tied for the highest spot, every cited by 63 p.c of respondents. The transformation of the finance perform can be gaining vital significance, rising eleven share factors to 49 p.c. The majority of corporations have already taken motion: 86 p.c are actively implementing restructuring packages—virtually twice as many as two years in the past. 83 p.c of CFOs contemplate elementary restructuring obligatory, up from 50 p.c beforehand. Reorganizations (77 p.c) and margin optimization measures (74 p.c) are essentially the most incessantly carried out initiatives.

These packages are having an affect, although usually extra slowly than deliberate: for 92 p.c of respondents, transformation measures are already yielding measurable results on the revenue and loss assertion. At the identical time, key hurdles stay. 63 p.c cite an absence of capability, 54 p.c level to insufficient change administration, and 49 p.c establish gaps in inside experience as elements slowing progress. 43 p.c of the packages are continuing extra slowly than anticipated.

Strategic options are additionally restricted. Not a single CFO describes the marketplace for vogue property within the DACH area as energetic; greater than 70 p.c price it as weak. The greatest hurdles cited for gross sales are an absence of investor curiosity (57 p.c) and valuations which can be too low (46 p.c). When transactions do happen, opponents (57 p.c) and turnaround specialists (51 p.c) dominate the panorama.

For some corporations, the one remaining choice is to shut particular enterprise items, areas, or manufacturers. Twenty p.c of the businesses surveyed have already closed enterprise items, deserted areas, discontinued manufacturers, or are at present within the strategy of winding down operations over the previous 24 months. At the identical time, winding down operations is dear and sometimes tough to implement in observe.

“The results clearly show that the industry is not facing a temporary slump but a structural crisis,” says Benjamin Rassler, Partner at Roland Berger. “Many companies have already responded decisively and initiated their transformation. However, if revenue growth fails to materialize and costs continue to rise, mere optimization is often no longer enough.”

“CFOs must now master three options simultaneously: restructuring, divesting, or closing down,” provides Richard Federowski, Partner at Roland Berger. “It is crucial to evaluate underperforming areas early on using data and to take decisive action. Those who delay these decisions for too long lose valuable time in a market that is increasingly unforgiving of missteps.”

About the examine
For the examine, a complete of 35 finance executives from main vogue and life-style corporations in Germany, Austria, and Switzerland have been surveyed in April 2026.