It has been an unprecedented year for the luxury industry. Though traditionally more resistant to economic crises than other sectors, the luxury industry also felt the effects of the Covid-19 emergency, and 2020 is expected to close with a drop of -20/-22% in the global luxury market. When it comes to personal luxury goods (fashion, jewelry, accessories, cosmetics), a downturn of -23% is predicted in the base scenario. For 2021, an average recovery of about +14% is expected for personal luxury goods.
The situation and outlook of the luxury industry and markets that emerged from the Altagamma-Bain Worldwide Market Monitor 2020 (presented by Claudia D'Arpizio and Federica Levato, Bain & Company), and the 2021 Altagamma Consensus (Stefania Lazzaroni, Fondazione Altagamma), were explored during the online conference held this morning.
Present and future scenarios were discussed by Lorenzo Bertelli (Head of Marketing and Head of CSR, Prada Group), Alberto Galassi (CEO, Ferretti Group), Bob Kunze-Concewitz (CEO, Campari Group), Gabriele Del Torchio (President and CEO, Design Holding), and Pier Francesco Nervini (COO North & Central Europe & Global Accounts, Global Blue).
