We have limited Spanish content available. View Spanish content.

Snap Chart

Asia and Europe Are Propelling Luxury Through 2023

The value of the personal luxury goods market is set to hit a record €362 billion this year, up 4% from 2022.

Snap Chart

Asia and Europe Are Propelling Luxury Through 2023
en

The 22nd edition of the Bain & Company Luxury Study, released in collaboration with Italian luxury goods body Fondazione Altagamma, shows growth amid macroeconomic and geopolitical turbulence. Asia is setting the pace, thanks to domestic demand and a renewed influx of Chinese tourists in the region. Europe is on track to post a robust gain for the year, while the Americas are experiencing a drop in sales.

All categories grew, led by jewelry and apparel. Despite short-term uncertainties, we expect that solid fundamentals will produce continued growth in the overall personal luxury goods market in the coming years.

Tags

Want to continue the conversation

We help global leaders with their organization's most critical issues and opportunities. Together, we create enduring change and results