Just like pretty much everything, sales of luxury goods were also affected by Covid-19. However, due to the recent news (Lifting of restrictions, vaccines, etc), an almost 29 percent increase has been noticed in the sales of luxury goods. Especially in luxury handbags. As reported by Bain & Company, who happened to be a … 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
The pulse of luxury residential real estate. “The pandemic recalibrated interest in larger, greener properties, secondary cities, and geographies with favorable tax and emigration policies. These preferences are likely here to stay for the foreseeable future” – Bradley Nelson, chief marketing officer for Sotheby’s International Realty. The global wealth is forecasted to grow and … Read more
LVMH enters 2021 with cautious confidence and sets an objective of reinforcing its global leadership position in luxury goods. LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury products group, recorded revenue of 44.7 billion euros in 2020, down 17%. In a very turbulent context not only for the luxury industry, LVMH group showed … Read more
United Stated has suspended plans to impose tariffs of 25 percent on French high-end goods. Trade War is over? The United States Won’t Tax French Luxury Goods by 25%. The United Stated announced that it has suspended plans to impose tariffs of 25 percent on French luxury goods, due to take effect in response … Read more
2020 luxury industry drop is the largest recorded since global consultancy have been tracking the industry. Covid-19 Crisis Pushes Luxury To Sharpest Fall Ever But Catalyses Industry’s Ability To Transform. Bain & Company Luxury Study. It has been a year of profound global change in the way we live, the way we shop … Read more