The luxury sector is about to close an almost record-breaking year, with an estimated increase of 21%.
Il 21st Altagamma Observatory confirmed the growth trend of the entire high-end segment at a global level. According to the analyzes of Bain & company, despite the political-economic situation, luxury will almost touch its share 1,4 billion euros, while for personal luxury goods an estimated + 22 % a 353 billion.
The report fromAltagamma–Bain worldwide luxury market monitor 2022, presented by the senior partners of the consulting firm Claudia D'Arpizio e Federica Levato, shows positive numbers also for the 2023, when the margins of top-of-the-range companies should show an improvement of + 6 %.
In 2030, in fact, the market value of personal luxury goods it should rise to approx 540-580 billion euros, reporting an increase of 60% or more from this year.
"The new wave that is affecting the luxury industry, and which is shaping new trends, will require an evolution of the companies in the sector, which will have to work on their own adaptation to uncertainty and focus on creativity in all areas of the business", the experts explain Bain & company. “Looking to 2030, luxury brands will have to leverage the cultural avant-garde and the excellence that has always distinguished them, applied to new fields”.
The market trend and future forecasts were then illustrated byAltagamma consensus 2023, illustrated by the general manager of high gamma, Stefania Lazzaroni, and created with the support of the most important financial analysts.
"The top of the range, after the strong rebound following the outbreak of the pandemic, has completed the recovery path, recording an all-time record in 2022 with a +21% worldwide", he declared Matteo Lunelli, president of Altagamma.
