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GLOBAL LUXURY GOODS SALES TO SLIDE UP TO 35% - STUDY
Techlife News
|May 09, 2020
The global luxury goods sector is heading for a stunning collapse of up to 35% this year due to coronavirus lockdowns, according to a new study by the Bain consultancy published Thursday.
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Bain Partner Claudia D’ Arpizio said it would take two to three years to return to 2019 global sales of around 281 billion euros ($303 billion) -- with the forecast decline much steeper than the single-digit drop recorded after the 2008-9 crisis.
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