Gen Z’s latest status symbol is running a marathon—and it’s terrible news for Gucci, Louis Vuitton, and Hermès

Gen Z has dismissed dreams of owning a Birkin bag and has picked up sneakers instead. As luxury struggles to woo a young generation of consumers who have not yet accumulated enough wealth to drop five figures on a handbag, the cohort of 20-somethings has instead become enamored with more affordable fitness activities.

“If you have the ability to get up before work or after work and train and have running shoes and and you can do that, I mean major props to you,” New York City influencer...