Global Luxury Sales Growth to Slow This Year, Bain Report Says
Worldwide luxury sales will grow at less than half last year’s pace in 2012 and rise at a similar speed through 2015, according to Bain & Co.
Spending on luxury apparel, accessories, watches, jewelry, perfume and other personal items in 2012 may climb 5 percent to 212 billion euros ($273.8 billion), excluding currency swings, Bain said today in a report. That compares with growth of 13 percent last year, the consultant estimated.
Still, a weak euro will boost sales on a reported basis, lifting revenue 10 percent this year from 11 percent in 2011, Bain said.
“Concerns about market weakness are somewhat overblown,” said Claudia D’Arpizio, a Milan-based partner at Bain and lead author of the study. “But we are seeing sharp disparities between brands that are not keeping up with the quickening pace of change in the market and those that are adjusting to shifts in tastes and demographics.”
The luxury goods market will grow by 4 percent to 6 percent annually between 2013 and 2015, excluding currency swings, Bain said.
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