Bénédicte Épinay, president and CEO of Comité Colbert, is organizing 'Hidden Treasures,' an exhibition of French luxury brands at The Shed in New York in late May 2025, timed after Frieze art fair and auction week. The show features 96 French luxury brands, 17 cultural institutions, and six European luxury brands, including Musée du Louvre, Balenciaga, Louis Vuitton, and Cartier. The initiative is part of a broader cultural diplomacy strategy, following a similar exhibition in Shanghai in 2024 that helped reduce tariffs on cognac. The article also notes shifting luxury market dynamics, with strong US sales growth projected at 8% in 2026, while Europe remains stagnant, and emerging markets like India show new wealthy buyers driving auction house growth.
This matters because it highlights the intersection of art, luxury, and geopolitics, with Comité Colbert using cultural exhibitions to influence trade relations and consumer sentiment amid tariff disputes. The article also underscores the evolving definition of luxury, from traditional craftsmanship to experiences, and the challenges legacy brands face with younger generations who prioritize creativity and culture. The involvement of major auction houses like Christie's and Sotheby's, with rising luxury sales, signals a blurring line between art market and luxury goods, relevant to art-world professionals tracking market trends and institutional diplomacy.