As we embark on a journey through the luxury industry’s latest developments in January 2024, we are met with a diverse array of news that collectively paints a picture of a sector in flux. From financial forecasts and brand expansions to innovative partnerships and shifting consumer trends, these updates offer a panoramic view of an … Read more
Global luxury market projected to reach €1.5 trillion in 2023, a new record for the sector, as consumers seek luxury experiences. The global luxury market is projected to reach €1.5 trillion in 2023, an 8-10% growth over 2022, setting a new record for the industry and proving its unparalleled resilience. These are among the findings … Read more
DFS Opening the First World-Class, Seven-Star Luxury Retail and Entertainment Destination DFS Yalong Bay in Sanya, Hainan, China by 2026. The 128,000 square meter site will feature over 1,000 luxury brands including iconic maisons from the LVMH Group, with elevated immersive concepts across multiple categories such as fashion and apparel, beauty and fragrances, watches and … Read more
“The nouvelle vague – the new wave – of the luxury goods market will demand evolution amid disruption, adaptation amid uncertainty, and an expansion of creativity in all of the basics – all while new trends and concepts develop”, said Claudia D’Arpizio, a Bain & Company partner and leader of Bain’s Global Luxury Goods and … Read more
Global Personal Luxury Goods Market On Track For Recovery. Two possible scenarios for the luxury industry rebound in 2021. Following a turbulent year, the luxury market has started its path towards recovery. The luxury industry returned to growth in the first quarter of 2021, growing by 0-1% versus 2019, which is viewed by the … Read more
Luxury consumers are redirecting their spending toward new and more personal high-end experiences. Study. The personal luxury goods industry managed to hold steady amid global geopolitical uncertainty, says Bain & Company‘s annual global luxury study. According to new data, under the surface of the high-end market’s increasing stability lies meaningful dynamism with a clear separation … Read more