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20

Luxury Market Stagnates as Wealthy Chinese Shoppers Stay at Home

By Tony Seruga

Recovery undermined by weak tourism in light of terrorism
Bain & Co. survey says flatter sales represent ‘new normal’

The world’s luxury-goods market stopped growing this year, according to a forecast from researcher Bain & Co., as the industry struggles to emerge from one of its weakest periods since the global recession.

Sales of personal luxury goods from Louis Vuitton coats to Hermes handbags are projected to linger at about 249 billion euros ($273 billion) in 2016, the weakest performance since 2009 at constant exchange rates. At actual rates, sales are set to slip 1 percent, Bain predicts…

Luxury Market Stagnates as Wealthy Chinese Shoppers Stay at Home

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