Luxury personal property market grows 221TP3Q and profits reach 353 MME

Mercado de bens pessoais de luxo cresce 22% e lucros chegam aos 353 MME

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

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

In 2020, the luxury personal effects market slowed as a result of the pandemic, with sales of around €220 billion. However, it rebounded the following year, in 2021, when sales reached €290 billion.

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