The personal luxury goods market boomed in 2022, reaching an unprecedented $383 billion, up 26% from 2019 and 22% from 2021 at current exchange rates, according to Bain-Altagamma Luxury Study. Much of the growth came from its two largest markets, The Americas ($123 billion and up 25%) and Europe ($102 billion, up 27%). However, China, […]
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RSS feed for this sectionLuxury Brands Must Prepare For A Reset: Here’s The How And Why
Over the last three years, the luxury market has experienced a whirlwind of change. In the lead-up to the pandemic, the personal luxury goods market grew 7 percent in 2019, reaching $300 billion globally. Then in 2020, it suffered a sharp decline, dropping an unprecedented 22 percent to $235 billion, followed by a remarkable rebound […]
HENRYs Are Preparing For An Economic Downturn: Luxury Brands Must Too
Peloton, the maker of high-end, digitally-enhanced exercise equipment that enjoyed a bump during the pandemic only to crash spectacularly afterwards, just announced it is laying off 500 employees, about 12 percent of its existing workforce following three rounds of layoffs earlier this year. Store closures accounted for most of the last round in June, but […]
For Neiman Marcus Celebrating Hispanic Heritage Is More Than Just A Month-Long Event
Gabriela Hearst, Carolina Herrera, Johanna Ortiz, Tata Harper, Manolo Blahnik, Oscar de la Renta, Narcisco Rodriquez and Paco Rabanne share more than just being fashion designers. They all trace their heritage from Hispanic and Latino origins. And they all are taking the spotlight in selected Neiman Marcus window displays in honor of Hispanic Heritage Month, […]
NRF’s Optimistic Retail Forecast At Risk
For the last 25 years, the National Retail Federation (NRF) has kicked off the holiday shopping season in early October with its forecast for holiday retail spending, covering the critical November-December retail sales. This year, however, it waited until the end of November to make its prediction, and as per usual, it was exceedingly optimistic. […]