Sales of high-end apparel, footwear and handbags are expected to drop 2% to 358 billion euros ($412 billion) this year from 364 billion euros in 2024, Bain said in its semiannual market update for the Altagamma association of Italian luxury producers.
Global luxury shoppers are spurning high-end brands over steep price hikes, new study shows
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“Still, to be positive in a difficult moment - with three wars, economies slowing down, inequality at a maximum ever - it’s not a market in collapse,’’ said Bain partner and co-author of the study Claudia D’Arpizio.
Tariff threats, wars will slow but not collapse global luxury sales in 2025, new study shows
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