What: The next annual report from Bain & Altagamma will be released early December. IADS will receive a copy in due time.

Why it is important: The Press release already circulated gives an idea of the main trends on the market this year.

Bain and Altagamma have announced the release early December of their annual report on Luxury. Numbers clearly show that 2020 was a pandemic blip, as the luxury personal goods market is following a V-shaped trajectory, reverting in 2021 to 2019 levels. Such a revival has been powered by local consumption, the US and Chinese dual engine, and online sales +50% between 2019 and 2020, +27% between 2020 and 2021). Growth is of course sustainable by younger customers.

Europe, Japan and the rest of Asia have, however, only partially recovered during 2021. Japan es expected to revert to 2019 levels by 2023 and Europe by 2024. The report also mentions an increasing concentration in terms of top players as leading brands now represent 33% of the market compared to 17% on 2000.

When it comes to Department Stores, Bain estimates that they represent 15% of the total luxury market in 2021, compared to 18% in 2019 and expected to fall to 10-12% within 2025.

Read the report here

Fall 2021 Luxury Report press release