Claudia D'Arpizio

The global luxury market, consistent with last year's growth rate, continues its high registering a robust growth of 11–13% at constant exchange rates and a projected 8–10% surge over 2022.

Global geopolitical tensions and macroeconomic uncertainty notwithstanding, the business of personal luxury goods is on a growth trajectory but with increasing pressure to go sustainable.

The global luxury goods market remains poised to see further expansion next year, and for the rest of the decade to 2030, even in the face of present economic turbulence, according to a Bain & Company luxury study.

Shopping and purchasing trends among global fashion consumers are set to move sharply towards favouring more sustainable practices in the coming years, creating important new opportunities as well as challenges for fashion brands. New research by Bain & Company and the WWF Italy also finds there are five types of global fashion consumers who will be determining the course of things.