Luxury will be slow until 2027

According to a recent study by McKinsey and the Business of Fashion media, the global luxury market growth range will be limited to +1 to +3% over the next three years. Experiential luxury, Asian countries such as Japan, India, Korea and the Middle East, and senior clientele are expected to be the sector’s future growth drivers.

Luxury is not out of the woods yet…

According to the latest “ State of Fashion” study, published on Monday January 13 by McKinsey and the Business of Fashion media, the sector’s slump will continue until at least 2027. And it may never recover its former growth.

+1 à +3%

According to this report, growth in the luxury goods sector is only expected to evolve in the range of +1 to +3% between 2024 and 2027.

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