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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 personal luxury goods market is experiencing its first significant slowdown in over a decade, signaling a turning point for an industry long associated with consistent growth.. According to ...
Against this backdrop, 2025 could be the year that key markets shift beyond Chinese reliance, and the trend of “quiet luxury,” wherein luxury goods are understated rather than flashy, leads to ...
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 United States is the second-largest luxury market, following Europe, worth about 100 billion euros ($106 billion), or nearly one-third of all global high-end sales of apparel, leather goods ...
According to a report by McKinsey in 2019, Chinese consumers are the engine of worldwide growth in luxury spending [3] According to a report by Bain in 2021, China's luxury spending is expected to reach more than half the global market value of luxury goods by 2025. [4]
MILAN — The luxury goods market continues to show resilience and is expected to reach revenues of between 360 billion and 380 billion euros by 2025. Despite the challenges and disruptions that ...
Bernard Jean Étienne Arnault (French: [bɛʁnaʁ ʒɑ̃ etjɛn aʁno]; born 5 March 1949) is a French businessman, investor and art collector. [2] [3] He is the founder, chairman and CEO of LVMH, the world's largest luxury goods company.