Global luxury sales to fall 2% in 2024, among weakest years on record: Bain

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Global luxury sales to fall 2% in 2024, among weakest years on record: Bain - Business Standard

Quick Summary:

Growth prospects for the market hinge partly on the strategies brands choose to pursue, including on pricing, she added.

The study released on Wednesday will likely heighten concerns among investors that the sector's current downturn, which has knocked shares in the likes of LVMH and Kering, may be longer and deeper than anticipated.

Levato said Donald Trump's victory in the U.S.presidential election had removed one uncertainty, while possible interest rate and tax cuts could encourage Americans to spend more.