Milan 07.05.2020

The impact of COVID-19 on the personal luxury goods industry: an average decrease of 20% expected in 2020

The latest updates to the Altagamma Bain Monitor on World Markets produced by Bain & Company in collaboration with Altagamma, and the 2020 Altagamma Consensus published by the Altagamma Foundation, with input from leading international analysts, were presented on May 7.

Following a positive final quarter of 2019 and a very promising start to 2020, the personal luxury goods industry was hit hard by the crisis caused by spread of COVID-19 and the consequent national lockdowns and air traffic restrictions, with a negative impact across all product categories and all markets for the current year.

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