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Luxury’s Growth Expected to Slow Dramatically Next Year, Bain Says

After sales of personal luxury goods are set to surge 22 percent this year, the consultancy forecasts growth will slow to 3 to 8 percent in 2023.
The exterior of luxury stores on Bond Street in London. Flags showing brands including Cartier and Chanel are above the store entrances.
Luxury stores on Bond Street, London. (Shutterstock)
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The personal luxury goods market is set to surge to €353 billion ($368.2 billion) this year, rising 22 percent at current exchange rates, according to a joint report from consultancy Bain & Co. and Italian trade group Fondazione Altagamma. The consultancy had previously estimated sales

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