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23 Jun

Global Luxury Goods Market Set for Continued Growth in 2023

by Beauty Tips
Fashion, Featured
Global Luxury Goods Market Set for Continued Growth in 2023
MILAN – The worldwide appetite for luxury goods continues to be healthy. Bain & Company’s Luxury Goods Worldwide Market Study – Spring 2023, presented on Friday with Altagamma in Milan, shows the non-public luxury goods market is projected to grow between 5 and 12 percent in 2023, or between 360 billion and 380 billion euros,  following a record 12 months in 2022, despite geopolitical tensions and macroeconomic uncertainty. Last 12 months the sector reached a market value of 345 million euros, and by 2030 it's more likely to reach between 530 billion and 570 billion euros. That is around 2.5 times its size in 2020. The primary quarter of 2023 continued to indicate good momentum, leading to growth of between 9...
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15 Nov

Global Luxury Goods Market Seen Growing 21% in 2022

by Beauty Tips
Fashion, Featured
Global Luxury Goods Market Seen Growing 21% in 2022
MILAN — Despite all of the uncertainties, the worldwide luxury goods industry continues to grow and is predicted to further expand in 2023 and until 2030. In accordance with the newest Bain & Company Luxury Study in collaboration with Fondazione Altagamma, presented in Milan today, the worldwide luxury goods industry overall is projected to realize a market value of around 1.4 trillion euros in sales in 2022, up 21 percent from the previous 12 months. Specifically, the non-public luxury goods industry is poised to see revenues climb 22 percent to 353 billion euros in 2022 in comparison with 2021. The performance of the last quarter of this 12 months will largely rely on the progressive lifting of COVID-19 restrictions in China, and the...
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