Agenda-setting intelligence, analysis and advice for the global fashion community.

Luxury Market to Grow 4 Percent This Year

As consumer confidence waivers and economic and geopolitical tensions persist, luxury brands are reporting polarised performance, consultancy Bain said.

The personal luxury goods market is set to grow 4 percent in 2023, said Bain & Company. (Getty Images)

Joan Kennedy

14 November 2023

BoF PROFESSIONAL

The personal luxury goods market is set to reach €362 billion ($387 billion) by end of year, growing 4 percent at current exchange rates from 2022, consultancy Bain & Company said in a joint report with Italian trade group Altagamma. That’s at the low end of earlier estimates between

Please sign in to ensure you can read our agenda-setting intelligence, analysis and advice. Or get in touch at support@businessoffashion.com if you experience difficulties.

Why Some Luxury Groups Are Doing Better Than Others

The slowdown in demand for high-end brands is hitting the sector unevenly, as seen in the polarised third-quarter results released this week by Hermès, Kering and others.

Tougher Times for Luxury Brands Separate Winners From Losers

The luxury-goods industry’s first slowdown since the pandemic is separating the winners from the losers.

Kering Lags Luxury Peers

Quarterly sales fell by 13 percent, with weakness at Saint Laurent and Balenciaga, as well as work-in-progress Gucci, as the group struggles to cope with slowing luxury demand.

About the author