· new york and paris fashion weeks, exclusive fundraisers, the nba play-offs: · now, even the industry’s highest spenders, who are expected to contribute up to 80% of luxury spending, are turned off by the price hikes, the state of fashion report found. As prices soared beyond reason, demand only intensified. There are no good deals any more, which makes it even more satisfying to tell others that they were not there. · now, 50 million luxury consumers have either ditched buying designer bags, scarves, watches, and more—or have been priced out, bain & company’s new annual luxury report warns. For fifteen years, luxury brands seemed unstoppable. · sales of personal luxury goods are expected to take a hit again this year as wealthy shoppers rebel against extravagant price hikes and global turmoil shakes confidence. Now reality has hit. · this is luxury ’s great paradox: · bain reports the luxury goods market retreated 2% in 2024. Only a third of. Until suddenly, it didn’t. While recovery is expected next year, evidence in this years data suggests headwinds will continue in 2025. The knight frank luxury investment index, which tracks fine art and collectible cars, dropped around 6% after. · after nearly a decade of steady growth, luxury assets began losing value in 2023.

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