Global luxury goods market is forecast to shrink in 2025
Donald Trump
MILAN Global sales of personal luxury goods are forecast to shrink in 2025 for the first time since the Great Recession , according to a Bain consultancy study. The outlook could worsen if the sector is hit by tariffs promised by Donald Trump. “This could be a nightmare if implemented,’’ said Claudia D’Arpizio, co-author of the study for Italy’s Altagamma association of luxury producers. “European brands could end up being super expensive in an already expensive environment.’' Trump has pledged
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