The latest report from Bain & Company and the Altagamma Foundation confirms the most likely scenario for the global luxury goods market in 2005, namely a decline of between 2% and 5%. To weather the headwinds that are likely to persist, luxury brands must rethink their strategies without compromising their DNA.
Bain & Company and the Altagamma Foundation, the Italian luxury goods industry association, are sticking to their guns: 2025 will not be a memorable year for luxury goods.
Last May, the US firm, which specializes in luxury goods, had already revised down its global forecasts for the sector this year. It was already expecting a decline of 2% to 5%, whereas at the end of 2024 it was still forecasting stagnation or even growth of up to 2%.
In light of the sector’s initial quarterly results for 2025, Bain & Company and the Altagamma Foundation confirmed and refined these projections in a new report published on June 19.
Three scenarios
The report now envisages three possible scenarios for the market in 2025, even though “the personal luxury goods segment remains facing a slowdown this year despite the sector’s resilience.”
Discover our plans Subscribe for 1€ Become an active member of the community of luxury leaders.
To continue reading this article, subscribe or log in to your account
Read also > Global luxury market: Bain & Co now expects a decline of 2 to 5%
Featured photo: © Unsplash
