Luxury will regain gloss by 2022 or 2023

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4 November 2020 à 17h10

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1 minute

Publication: 4 November 2020 à 17h10

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Publication

4 November 2020 à 17h10

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Publication: 4 November 2020 à 17h10

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Whilst many leaders of the luxury goods industry (LVMH, Chanel, Kering, Luxxotica, …) follow a positive trajectory, the COVID-19 crisis put an end to more than a decade of sustained growth. Accessories and watchmaking were most seriously affected. The market (including personal consumer goods such as perfume as well as cars and cruises) could shrink by 20% over the whole of 2020, to between €180 billion and €220 billion.

According to a study by Bain & Company in partnership with the

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