Uncertainty over tariffs sapped the appetite of even the wealthiest consumers to splurge on handbags and champagne.

Despite the global slowdown in the luxury goods sector, Europe is showing growth. In 2024, the value of the market in the region increased by 3% and reached almost €110 billion. What is behind this ...

Amid President Trump's trade war, tariffs are leading to higher prices, which is causing a slump in luxury sales of apparel ...

In 2024, for example, the overall personal luxury goods market worldwide fell 1% to 3% even as experiential luxury spending rose 5%, Bain said.

For example, mid-tier luxury brands such as Buti, Tusting and Parisa Wang offer Hermès Kelly and Birkin dupes for under $1,000 compared with $12,000+ for the real thing, if they can be had.

He points to the example of Hainan, which has been built into a major duty-free hub largely due to the acknowledgement from policymakers that luxury spending in China is good for the country.

Bain reports the luxury goods market declined from 1%-3% in 1Q24 and advises its time for brands to "rethink" the value equation. In other words, innovation is needed.

Global sales of personal luxury goods are forecast to shrink in 2025 for the first time since the Great Recession, according to a Bain consultancy study released Wednesday. The outlook could ...

Luxury goods owned by politicians have been perceived — and criticized — as symbols of corruption and moral decay at least since the Stoics began rejecting material wealth. Especially if the ...