According to the American firm Bain & Co, it was already predicted that the world luxury market would contract by 20 to 35% in 2020. But the persistent health risk in many parts of the world and the continuing slowdown of international tourism raise the question of the sector’s future. In France, the luxury industry has not escaped the major changes caused by the crisis, but also by the digital acceleration, the upheavals in consumption trends and the claims for sustainable and ethical luxury. So what are the perspectives for French luxury values? Here are some thoughts on the new aspects of tomorrow’s luxury.
A luxury that will be increasingly dependent on China
China is expected to continue to play a key role in the growth of the luxury sector in the post-Covid-19 era. “By 2025, half of all luxury purchases are expected to be made by Chinese clients, and 28% of the global turnover of luxury groups will be generated in China, compared to 11% today,” says John Plassard, investment specialist at Mirabaud.
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Featured photo : © Chanel
