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Research

Luxury business to contract by 20-35pc this year: Bain update

May 12, 2020

Nordstrom plans reopen as luxury retailers struggle during shutdowns. Image credit: Nordstrom Nordstrom plans reopen as luxury retailers struggle during shutdowns. Image credit: Nordstrom

 

By Dianna Dilworth

The luxury market is likely to contract 20-35 percent this year, as the COVID-19 pandemic has shut down the world and brought business across luxury sectors to a halt, according to an updated Bain & Company report.

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  1. Luxury brands condemn racism even as looters damage Chanel, Bloomingdale’s and Nordstrom stores in US
  2. Savile Row tailor Huntsman makes face masks to match bespoke shirts
  3. Diptyque CEO on pop-ups, expansion and state of the fragrance market
  4. Roundtable: Industry heavyweights on the future of the luxury watch business
  5. Rebranded Natural Diamond Council clear about new mission: Only the real thing
  6. Day's wrap: Kering, LVMH, TAG Heuer, Ronald Lauder and Estée Lauder
  7. Dior goes for gold with flashy J'adore campaign
  8. Advertising to black consumers on the decline as their spending power grows
  9. Gucci creates flower-rich fantastical set in new Gorgeous Gardenia campaign
  10. Shortening the recovery time for luxury retail: Re-boarding the workforce
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