Luxury goods market enters ‘new normal’
21/05/2014
Currency fluctuations are weighing heavily: the strong euro has wiped between 3% and 4% off the market value in the first quarter of this year, said a study it has published in collaboration with Italian luxury goods association Altagamma.
"We are entering a new phase for the sector, call it a new normal," said Bain partner Claudia d'Arpizio. "There are unlikely to be more booms like the recent one in China soon, and mature markets can cope better with economic crisis, so growth should be more stable."
The Russian market is anticipated to fall between 4% and 6% due to a weakening rouble and political tensions.
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