The 21st edition of the "Worlwide Luxury Market Monitor 2022" study, carried out by consultancy firm Bain & Company and Italian luxury brand foundation Altagamma, reveals that the global luxury goods market will expand significantly in 2022 - by 1.4 billion euros - representing growth of more than 21% compared to 2021.

Despite the economic climate, the luxury personal goods market (clothing, jewelry, watches, beauty, leather, footwear) grew by 22% in 2022, earning a profit of 353 billion euros, favoring 95% of brands. This expansion of the luxury personal goods market is expected to remain between 540 and 580 billion euros until 2030.

In 2020, the luxury personal goods market slowed down as a result of the pandemic, with a turnover of around 220 billion euros. However, it recovered the following year, in 2021, when sales reached 290 billion euros.