The industry’s sales are expected to hit EUR 390 billion globally by 2025
Dubai – Mubasher: The global luxury market has seen positive trend since the beginning of 2018, which will drive the market to grow 6-8% at constant exchange rates to EUR 276-281 billion in the full year, according to Bain & Company, a global luxury goods advisor.
The industry’s sales are expected to hit EUR 390 billion globally by 2025, the report found.
Dubai’s position as one of the world’s most preferred destinations has helped the emirate to maintain its stability in the market.
A Bain & Company partner and lead author of the study Claudia D’Arpizio said that “2018 is off to a strong start. Currency fluctuations will have an impact, but we expect the healthy trend to continue across all regions and customer segments.”
Luxury market is expected to grow by 3-5% in the Americas, 2-4% in Europe, and surge 20-22% in China, Bain & Company’s data showed.
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