New study shows global luxury shoppers are spurning high-end brands over steep price hikes
Cătălin Roșioru
MILAN (AP) — Global sales of personal luxury goods are forecast to contract for the second straight year, as well-heeled shoppers rebel against extravagant price hikes on ho-hum offerings and global turmoil shakes confidence, according to a new study by the Bain & Co. consultancy released on Thursday. Sales of high-end apparel, footwear and handbags are expected to drop 2% to 358 billion euros ($412 billion) this year from 364 billion euros in 2024, Bain said in its semiannual market update for
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