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Luxury goods industry: Looking back on a year of crisis and forecasts for the coming year

Luxury goods industry: Looking back on a year of crisis and forecasts for the coming year

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The year 2020 will have left a definitive mark on the luxury industry and the latter has been transformed in a not inconsiderable way, be it in terms of its products, their distribution, demand, clientele, etc… The coming year may seem better for the Houses, but the predictions could not be all that positive.

 

At the beginning of this year, most of the major luxury houses have evoked their optimistic feelings about the year 2021, particularly thanks to their latest quarterly figures, which showed a significant positive difference compared to those at the beginning of the year.

 

However, we should not think that the crisis is completely over and that the future holds nothing but progress. Some scenarios evoked by business analysts, luxury brand managers and academics evoke a 3rd, 4th wave during the year 2021.

 

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