Luxury keeps up: grows 5% in 2018 reaching 1.2 billion euros

Luxury sales are kept stable. The report Luxury goods worldwide market study elaborated by the consultant Bian&Company and Altagamma indicates that luxury’s global market has grown a 5% in 2018, reaching the 1.2 billion euros.

Luxury has had a positive global output in all segments during the last year. Luxury’s personal goods grew a 6% at constant exchange rates, reaching the 260 billion euros. Ahead of the future, it is expected that this trend of growth will continue in a range from 3% to 5% per year until 2025, obtaining a figure of between 320 billion euros and 365 billion euros.

The figure remains in line with the consultancy’s estimations. However, socio-political issues, sales policies and possible economic recessions could make this road towards growth be unequal in the short-term.

“Last year, we saw the global luxury market return to healthy growth, albeit at a more moderate pace than in the past”, declared Claudia D’Arpizio, Bain’s partner. “That trend continues in 2018, led by flourishing luxury demand from Chinese consumers, the continued rise of online channels, and increasing influence from younger generations of consumers”, concluded D’Arpizio.