Few people know the luxury industry like David Arnold. With a career spanning Robb Report, Town & Country, and now his own strategic consultancy, David has seen the sector evolve from old-world elegance to today’s hyper-commercial, globalised stage. In conversation with Anant Sharma, he unpacks the tension between heritage and hype—from the decline of true artisanship to the rise of mass-market “luxury,” and what younger, more discerning audiences are really looking for. The two explore the risks of private equity, the challenge of sustaining identity at scale, and the slow re-emergence of authenticity, quality and craft.