June 23, 2023 - Updates on the Altagamma-Bain Monitor on the Global Personal Luxury Goods Markets, produced by Bain & Company in collaboration with Altagamma, and the Altagamma Consensus 2023, produced by the Foundation with input from international analysts and industry partners, were presented on June 23.
After 2022, which closed, despite an uncertain economy, with a record turnover of €345 billion, the global Personal Luxury Goods market saw an excellent first quarter this year (with growth of around 10%), giving grounds for a reasonably optimistic outlook for the rest of the year.
The growth forecasts for 2023 have been adjusted upwards thanks in particular to the Chinese rebound and Europe continuing to perform well, and despite a slowdown in the US market and the continued presence of a number of factors of concern in the macroeconomic situation (rising energy costs, still high - albeit slowing - inflation and the prospect of recession, supply chain shortages, geopolitical tensions and the decline in purchasing power of a number of consumer groups). Companies’ profit margins are expected to grow by around +10% in 2023.
The ALTAGAMMA-BAIN MONITOR highlights how - net of the uncertain economic conditions - the global personal luxury market had a record year in 2022, with a turnover of 345 billion euros (up 19% on 2021).
The update to the 2023 ALTAGAMMA CONSENSUS envisages 2023 moving easily towards a 10% profit margin
