Global sales of personal luxury goods are forecast to shrink in 2025 for the first time since the Great Recession, according to a Bain consultancy study released Wednesday. Its author said the outlook could worsen if the sector is hit by tariffs promised by Donald Trump.
“This could be a nightmare if implemented,’’ Claudia D’Arpizio, who led the study for Italy’s Altagamma association of luxury producers, told The Associated Press. “European brands could end up being super expensive in an already expensive environment.’'
