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inquirer - 1 month ago

Study: Chinese to account for half of luxury sales by 2025

MILAN --- Chinese consumers will remain the driving force for luxury goods market and fuel nearly half of global high-end sales by 2025, a new study by Bain consultancy released Thursday showed. Chinese shoppers will account for 46 percent of global luxury sales of an estimated 365 billion euros ($412 billion) in just six years, Bain said in the study, which was prepared for Italy s Altagamma association of high-end producers. That s up from one third of all sales of luxury apparel, accessories and cosmetics last year. Bain partner Claudia D Arpizio said half of those purchases will be made in China, as price differences between countries fade and brands improve...

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