Baccarat's Laurence Nicolas reports strong 2025 as lighting demand holds firm

Baccarat chief executive Laurence Nicolas described a strong financial performance for 2025 in an interview with WWD, attributing the result to healthy demand for the crystal house's exceptional lighting fixtures and decorative objects. The comments come at a moment when much of the wider luxury sector has flagged slower growth, making Baccarat's positioning in high-value interiors and collectible design notable.

Baccarat has increasingly leaned into its heritage as a maker of chandeliers, sculptural lighting and objets d'art for private clients, hospitality projects and collaborations, a segment that tends to be less exposed to the entry-level luxury slowdown affecting fashion and accessories. That focus on exceptional, high-price pieces rather than volume aligns with a broader trend of luxury houses prioritising their most exclusive tiers as aspirational spending pulls back.

The performance underscores how demand for rare, investment-grade decorative pieces has held up even as overall luxury demand has become more selective. What to watch is whether Baccarat expands its lighting and interiors business further, including through hospitality and real estate partnerships, as a hedge against softer conditions elsewhere in luxury goods.

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