Find in the news:
BY COUNTRY

The luxury goods market on its journey to recovery from the pandemic



Since the beginning of 2021, the market is already recovering by 13 to 15 % compared to 2020.
The luxury goods market has begun to recover from the pandemic

The global luxury and premium goods market has begun to recover from a pandemic, according to research from Italian luxury manufacturers' association FondazioneAltagamma and the U.S. consulting firm Bain & Company.  

Since the beginning of 2021, the market is already recovering by 13-15% compared to 2020. It is predicted that the total turnover of the global market will amount to 1.1 trillion euros by the end of the year, which is only 10% less than in the pre-crisis year of 2019. In 2020, the market declined due to restrictions and decreased purchasing power was estimated at 23%. 

The authors of the study point out that the main growth driver of the luxury goods market is jewelry, watches, handbags, designer clothing, accessories, and other personal products. Growth in this segment is 29% relative to 2020 and 1% close to 2019. Analysts expect the market to reach the €360-380 billion mark annually by 2025, with 6-8% annual growth.

Sales of designer furniture and home furnishings have grown by 14% YTD to 2020 and by 7% YTD to 2019. The collectible wine and luxury spirits segment saw sales growth of 13% and 1%, respectively. 

In the category of private jets and yachts, the market has increased only 2% compared with 2020, while sales are still 7% behind their pre-crisis levels. The worst-case scenario is in the luxury travel segment, with sales down 41% per year and an 82% lag compared to 2019. 

More about shopping malls in the USA



TODAY:
The spaces, designed in Hermès colors, will appear in Paris, Tokyo, New York and other cities around the world.
YESTERDAY, USA:
The iconic store will close after 14 years of operation.
YESTERDAY, Italy:
The automaker plans to open stores in the new concept in the world's major metropolitan cities.
Oct 1, 2022, Spain:
The new store on Paseo de Gracia reflects the brand's British style
Sep 29, 2022, Russia:
The third quarter was strongly influenced by the decision to cease sales in Russia and the subsequent closure of the business.
Sep 28, 2022, United Kingdom:
IKEA cooperates with British grocery giant Tesco, launching a new service.
Friend
and Follow
Vegas Crocus City GLA:1 199 078 SF
ADDRESS: 61 km Moscow Ring Road
Russia . Moscow region
Vegas Crocus City
Jardim Pamplona GLA:118 403 SF
ADDRESS: R. Pamplona, 1704 - Jardins São Paulo
Brazil . Sao Paulo
Jardim Pamplona
Arkadia GLA:1 184 030 SF
ADDRESS: Aleja Jana Pawla II 82, 00-175
Poland . Warsaw
Arkadia
Queens Place GLA:440 000 SF
ADDRESS: 88-01 Queens Boulevard Elmhurst, NY 11373
USA . New York
Queens Place


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us