Luxury Goods - Worldwide | Statista Market Forecast
Luxury Goods - Worldwide | Statista Market Forecast
Feb 22, 2021
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The global market for personal luxury goods rose by 5% between 2019 and 2021. Shoppers under 40 accounted for more than 60% of luxury purchases worldwide in 2022, and that figure is estimated to jump to 70% of their purchases worldwide by 2025. LVMH's market value surpassed US$500 billion this week. It became the first European company to reach that milestone, thanks to booming sales of luxury goods in China and a strengthening euro. What is baffling is that, amid the global impact of increased
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