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Luxury draws closer to its historic peaks

2021-06-15T13:33:58.729Z

STORY - After having suffered the full brunt of the health crisis, the sector is experiencing a convincing resumption of activity.



Could the worst crisis ever for the luxury sector already be a bad memory?

Due to the Covid-19 pandemic, the market saw its turnover collapse by 22% last year, to 217 billion euros, falling below its level of 2014. But, in the first quarter of this year, it started off very strongly, to the point of exceeding its level of January-March 2019 by 2%.

A rebound so spectacular, even if growth remains much lower than the annual rate observed between 1996 and 2019 (+ 6%), that the cabinet Bain has just revised its forecasts upwards.

At the start of winter, its experts envisioned a return of the sector to its 2019 level

"by 2022-2023"

.

From now on, they estimate possible, at 30%, that world luxury will return to its all-time high (281 billion euros) from 2021 if the trend at the start of the year continues, in particular thanks to an acceleration of vaccination and a return of customers to the store.

Read also:

In Japan, luxury brands are not experiencing the crisis

“It would be very good news,”

emphasizes Joëlle.

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Source: lefigaro

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