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It expects the global growth rate of the luxury industry to be just 1-3% between 2024 and 2027, with China and Europe, once the centers of luxury spending, contributing less to that expansion.
The luxury goods market has been on an upward climb for many years. Apart from the setback caused by the 1997 Asian Financial Crisis, the industry has performed well, particularly in 2000. That year, the world luxury goods market was worth nearly $170 billion and grew 7.9 percent. [24]
The Luxury Institute is a premium goods and services research, training and consulting firm based in New York City, New York and Boca Raton, Florida. It has the largest global network of luxury experts. It has conducted more quantitative and qualitative research on affluent consumers than any other entity.
Walpole is the official body for the UK's luxury goods sector. It represents the interests of 270 British brands and members include Rolls-Royce , Burberry , Claridge's and Harrods . Its purpose is to promote, protect and develop a sector that in 2019 was estimated to be worth £48 billion to the UK economy.
A 2024 report by Bain & Company found that Gen Z consumers, or those born between 1997 and 2012, will account for nearly a third of luxury purchases by 2030, while millennials, born from 1981 to ...
The Saks Luxury Pulse is a quarterly online survey of luxury consumers’ attitudes toward shopping, spending and fashion trends. It’s conducted in-house by Saks.
The top five luxury watch brands in the country are Rolex, Omega, Cartier, Vacheron Constantin, and Breitling. [8] In a confidential report titled "China Luxury Market study 2010" in November 2010, the management consulting firm Bain & Company noted the top three luxury brands in China are []], Chanel and Gucci. According to the report, watches ...
Here are the top 10 brands making a killing in the luxury market.