The global luxury market continues its upward trajectory and is projected to reach a record €1.5 trillion in 2023, according to a new report from Bain & Company and Italian luxury goods association Altagamma. This represents an 8-10% growth over 2022, proving the sector’s resilience amid economic uncertainty.

What trends will shape the luxury industry in 2024 and beyond? And as markets shift and consumer preferences change, how should luxury brands adapt in order to stay competitive?

Federica Levato, Partner at Bain & Company & Leader in Global Fashion and Luxury Goods Practice explains. 

The global luxury market continues its upward trajectory and is projected to reach a record €1.5 trillion in 2023, according to a new report from <a href="https://www.bain.com/" data-type="link" data-id="https://www.bain.com/">Bain &amp; Company</a> and Italian luxury goods association Altagamma. This represents an 8-10% growth over 2022, proving the sector’s resilience amid economic uncertainty.
What trends will shape the luxury industry in 2024 and beyond? And as markets shift and consumer preferences change, how should luxury brands adapt in order to stay competitive?
Federica Levato, Partner at Bain &amp; Company &amp; Leader in Global Fashion and Luxury Goods Practice explains.

Money Matters is your guide to navigating the day's most important topics, from politics and current affairs to wealth management and trending issues. Every evening, the team delivers insightful discussions on business news, market movements, and the latest in alternative assets. Whether navigating the political landscape, understanding the economy, or uncovering emerging investment opportunities, Money Matters keeps you informed and ahead of the curve. Tune in daily to Hongbin Jeong and Chua Tian Tian from 4 pm to 7 pm on MONEY FM 89.3.

Money Matters is your guide to navigating the day's most important topics, from politics and current affairs to wealth management and trending issues. Every evening, the team delivers insightful discussions on business news, market movements, and the latest in alternative assets. Whether navigating the political landscape, understanding the economy, or uncovering emerging investment opportunities, Money Matters keeps you informed and ahead of the curve. Tune in daily to Hongbin Jeong and Chua Tian Tian from 4 pm to 7 pm on MONEY FM 89.3.

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