China's GDP growth expected to be +2% in 2020 vs.-4% for world 1 1. VIRTUALIZATION OF LUXURY A BOOMING TREND, DRIVING NEW POTENTIAL REVENUES STREAMS Virtualization of luxury is an increasingly defined reality that can pose great opportunity of additional revenues stream for the brands. This rapid shift . All personal luxury goods categories except apparel are back to their 2019 level At category level, shoes, accessories, and jewelry were the star performers during the pandemic. These prices are often discounted and may be substantially higher than actual transaction prices. Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission ("SEC")for the fiscal year ended December 31, 2019 and in Exhibit 99.2 to our Current Report on Form 6-K filed with the SEC on April 27, 2020, as such . Covid-19 and the New Era of Luxury 29 CONSUMER SHIFTS 34—57 03: Digital Sprint 35 Kering: Fast-Tracking a Digital Upgrade 38 . Managing the Next Decade of Women's Wealth. Luxury ($2 +M | SF C 2021 Q1 SOUTH SOUND MARKET REPORT 5 INVENTORY IN UNITS / 12.31.2021 . Note: Responses shown are limited to the options provided. The authors extend their gratitude to all those who contributed to it, especially to the global Bain team, including Alexander Fedchenko, Anna Kraeva, Dmitrii Avanesov, Anton Matalygin, Julia Gavrilova, Masha Shiroyan, and Bain's Mining and Luxury Goods practices. The report noted that the collapse in global tourism has changed "how, when and why" luxury is purchased. Recent market reports Luxury hotels • Lodging spending at luxury hotels expected to grow at 11%; demand higher but supply constrained - We see an increasing trend of domestic travellers booking luxury hotels for leisure trips - The share of business generated by domestic tourists is 50% for luxury hotels, up from 30% in the last 3 years Budget and mid-market Personal Luxury Goods market (in EUR bn) and cFX growth % Luxury good market size (in EUR bn) Luxury demand - cFX % change CAGR (199 - 2 020): 4.8% Source : Deutsche Bank, Altagamma Report by Bain & Co. All the buzz is forcing brands to accelerate on ESG. Similarly, March 2022 saw a 25.16% year-over-year decrease in luxury attached inventory with a 10.22% increase in new inventory. 12% 39% Of total luxury market made by the 2 wealthiest clusters (Beyond Money & Top absolute); +6pp vs. 2019 thanks to a 17% growth in size, showing a total resiliency to crisis Of total luxury market made by the 19M True Luxury Consumers (+8pp vs. 19) Other aspirational 393 603 320 318 420635-690 Pop. Through interviews, analysis, and detailed examples, we lay out what it takes to attract and retain these clients and serve them in a competitively sustainable way. January 21, 2022 - By TFL Image: The RealReal Soaring demand for secondhand luxury goods was one of the key trends that Bain & Co. analysts highlighted in 2021, with the management consulting firm valuing the luxury resale segment at €33 billion ($37.45 billion) as of the close of the year. Tmall's Luxury Pavilion, an app-within-an-app currently home to more than 200 luxury brand flagships, saw sales jump 159 percent year-on-year the January to March 2021 period, according to statistics provided by Tmall to local Chinese media. Recent studies Altagamma Studies archive This study aims to focus on proposing and empirically validating a model that captures certain critical socio-psychological factors that nurture consumers' attitude towards affordable luxury brands in an emerging market context of India.,The data were collected via a cross-sectional questionnaire survey from 491 customers of different fashion accessory luxury products in India. LUXURY NEW RETAIL MID 2021 LAUNCH ON TMALL LNR Steering Group Chairman, g. 6 . We developed the Index to empower global brands and investors to effortlessly identify revenue-generating opportunities driven by Chinese luxury consumer demand. When we issued our report last year, the pandemic had just plunged the world's economy into its worst recession since World War II. With current news updates . Global Fashion & Luxury Private Equity and Investors Survey 2021Key takeaways Business Performance of F&L Industry COVID-19 impact and expected recovery from market's perspective Considering a selected panel of 81 players, operating in the Luxury industry, the global market was valued almost $633bn in 2019 in terms of sales. This report is a joint effort between Bain & Company and AWDC. Over the next decade, Bain expects that the luxury market's distribution footprint will evolve significantly. As CNBC points out, Bain & Company has issued its latest luxury report, dubbed "Bain & Company Luxury Study 2020 Spring Update." . 6 GLOBAL WEALTH 2021: WHEN CLIENTS TAKE THE LEAD BOSTON CONSULTING GROUP 7 Not even a pandemic could break global wealth's resilience in 2020. This information is confidential and was prepared by Bain & Company as a summary of best practices in response to COVID-19. Overview of the luxury goods market in France and abroad in 2021-2022. Analysis of financial performance and operations for fiscal years ended through 31 December 2020 using company annual reports, industry estimates and other sources. 1/1/ BCG and Altagamma Release Fifth Annual Study. UAE Luxury Goods Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026) : May 2021 $ 3250 Global Luxury Goods Industry : February 2022 $ 5450 Luxury Goods Market: Market Segments: By Product Type ; Gender ; By Mode of Sale ; and Region - Global Analysis by Market Size, Share & Trends for 2019 - 2020 and Forecasts to 2030 The global luxury handbag market was valued over US$ 20.9 Bn in 2020; It is estimated to expand at a CAGR of 5.9% from 2021 to 2031; The global luxury handbag market is expected to exceed the value of US$ 35.4 Bn by the end of 2031; Analysts' Viewpoint on Luxury Handbag Market Scenario. This report is a joint effort between Bain & Company and AWDC. [Photo/IC] China's personal luxury sector is likely to enjoy low double-digit growth in 2022 after the market nearly doubled in size over the past two years, according to a latest projection by consultancy Bain & Co. Later on in 2021 that dip turned into a V-shaped recovery, with the value in 2021 being slightly bigger than before the pandemic. Jul 29, 2021. In our analysis, we want to look at what's next for the industry instead of providing a . The access to the reports is reserved to Altagamma Companies. EUROPE E-COMMERCE REPORT 2021 INTRODUCTION LIGHT VERSION 3 A WORD FROM EUROCOMMERCE Christian Verschueren Director-General EuroCommerce, the European voice of the retail and wholesale sector, is proud again this year to support the European E-commerce Regional Report. 2019 €39K+ Average spend 12,000+ •2,000 in China •2,000 in US 2021 Resale Report, ThredUp, December 2021. Recovery will come by 2022-23, estimates Bain. Though some of those stringent measures are being eased in many places, Bain predicted that there will be a full-year contraction of between 20% to 35% for the personal luxury market. Global Powers of Luxury Goods 2021. The report and supporting data is made available to all interested parties as a basis for decision making and strategy setting. Market Research (Recommended) The report notes China's luxury market reached $123 billion (110 billion euros) in 2018, growing by six percent from the prior year. The overall luxury market - encompassing both luxury goods and experiences - shrunk at a similar pace and now is estimated at approximately €1 trillion. 5. November 15, 2021 The luxury goods market in China has doubled since 2019. Heritage appeal à la France continues to hold fast. Sales will rise 1% versus 2019 levels at current exchange rates and 4% at . luxury-ry URE E mplex or ment n e n n " an d or h h of e r er s. tal man al & penders 3x e - engagement URE model he n 20 % penders 30 % ders 80 % h 0%) al s s s e )) s Y1 1 ck sults on -ith ) . 8% 5% 5% 5% 3% 3% 0. 1. Luxury market rebounds in 2021, set to return to historic growth trajectory, Press release, Bain & Co, November 2021. After finishing this article, make sure you . Luxury Sales on Tmall Rise 159% in Q1. Recovery will come by 2022-23, estimates Bain. By comparison, the leather goods category, with total revenues of $71 billion, grew by 8 percent over the same period. 2. The SME Finance Monitor Q2 2021 2 This survey was commissioned to provide a robust and respected independent source of information . Until the first month of 2020, the luxury market was doing well, and even very well. MILAN — Spending on personal luxury goods is expected to contract between 20 to 35 percent for the full-year 2020 — this after falling by an estimated 25 percent in the first quarter . Comparing March 2022 to March 2021, there was an overall 8.17% decrease in luxury single-family inventory despite a 15.20% increase in new listings. Global luxury sales could return to pre-pandemic levels this year, boosted by a strong recovery in China and an unexpected early rebound in the US, according to Bain & Company. 10 GDP annual growth rate (%) 2021 2021-2025 2025 . Analysts expected global wealth to contract, and perhaps severely. MILAN, Nov. 11, 2021 /PRNewswire/ -- The personal luxury goods industry has come roaring back, experiencing a V-shaped recovery in 2021. . Tech. The Sun Is Setting on Traditional Banking. Personal luxury goods are items like jewelry, luggage, haute couture clothing, sports cars and more. a partner at Bain & Company and co-author of the report . Reselling luxury goods could lift a brand's profit margin by 40 percent in 2030, according to the forecast. The season witnessed the participation of companies from E-Commerce, Consulting, Manufacturing, Logistics, Luxury Goods, THE 7TH TRUE-LUXURY GLOBAL CONSUMER INSIGHT EDITION CONDUCTED IN TWO FIELD MOMENTS: PRE-COVID (JANUARY 2020) AND POST-COVID (JUNE 2020) €37K+ Average spend2 12,000+ Respondents 10 Fifth Ed. Image credit: Louis Vuitton. In the first quarter of 2021, revenue from luxury products grew up to 1% compared to the same period in 2019, the US management consultancy group said in its Luxury . On the e-commerce front, China's annual luxury online penetration increased from about 13% in 2019 to 23% in 2020 (see Figure 8). 5) and stock market (Dow -10%) reducing consumer wealth and luxury demand. Source: Bain Altagamma Luxury Goods Worldwide Market Study, Spring 2020 - May 7th, 2020. Nov 16, 2021. Last year's report, Lifting the Veil of Mystery, shed light on the dynamics and development of an industry known for its complexity and opacity. 3 Bain-Altagamma 2019 . The Collins Word Of The Year, Collins Dictionary, 2021. Whilst pent up savings and demand, as well as improved consumer confidence, will help to support recovery, the luxury industry still faces huge challenges, not least as consumers are saving rather than spending and many major economies are still subj . While the overall luxury market remains below pre-pandemic levels, the personal luxury goods industry is primed to return to a strong growth trajectory after a faster-than-expected recovery in 2021. Focusing on present Chinese luxury consumers, Luxe.CO, LUXECO Intelligence and Sina Weibo have joined force to conduct a very comprehensive research in early 2021 and compiled the following report. Coldwell Banker Bain is an undisputed market leader, posting nearly $6 . Through interviews, analysis, and detailed examples, we lay out what it takes to attract and retain these clients and serve them in a competitively sustainable way. China and world GDP growth forecasts are based on base case, a combination forecast with most recent data, global institut e reports and BCG analysis. Despite the impact of coronavirus disease 2019 (COVID-19) pandemic on demand for luxury goods, the market is expected to rise to $387bn by 2025 (Bain & Co, 2021). Source: IMF, World Bank, OECD, BCG analysis. Estimated . 2021 MGFI GLOBAL ECONOMY CONSUMER SHIFTS FASHION SYSTEM. Image credit: Louis Vuitton By Sarah Ramirez While the overall luxury market remains below pre-pandemic levels, the personal luxury goods industry is primed to return to a strong growth trajectory after a faster-than-expected recovery in 2021. However, his years in India continue to inform his approach to his work and craft. With resale alone, revenue per product could increase by as much as 65 percent . Challenge - Digital luxury to continue unchecked . Bain reports that online share of sales in the luxury market nearly doubIed in 2020, rising from 12% in 2019 to 23% in 2020. Specialty retailers went from 20% share of the personal luxury goods market in 2019 to 16% in 2021, a 10% decline in sales. The coronavirus pandemic changed it all in a few short months. This increased activity aligns with the expansion in luxury resale. A few key takeaways: - For Q4, Bain expects the signs of recovery to continue, to a -10% y-o-y drop, worst case -20%, best case -5% - Bain expects a return to 2019 levels not sooner than end 2022, early 2023 with partial recovery in 2021 - Mainland China is the only region to end year positively to €44bn, +45% Building on that solid foundation, AWDC and Bain & Company have renewed their collaboration and prepared Slump in oil price (-32% since Mar. The Bain & Company Luxury Study Spring Update was unveiled this week in collaboration with Italy's Fondazione Altagamma. the most to the market's growth: some %, to account for 50% of the . Read the report to see the full list of top 10 . Q1 2021 MARKET REPORT. 17 May 2021. T-Mobile To . Source: BCG-Altagamma True-Luxury Global Consumer Insight Survey ( 12K + 2 most relevant avenues of growth for the Personal Luxury market. Chow Tai Fook Jan./Feb. Altagamma - Bain Luxury Market Monitor 2021.pdf Created Date: 11/11/2021 4:19:35 PM . - Annual reports results reports . Luxury forecast for 2021 After this year's record losses, according to the latest Altagamma - Bain Worldwide Market Monitor update, the luxury industry is headed for a rebound. ect to significant lockdown . It has not been tailored to any specific situation and may therefore not be relied onSAO Airports Covid POV1_vsent 5 Air Traffic recovery will likely be only in the mid-long term Demand suppressed during outbreak, to recover to pre-COVID- . The top 5 brands with the highest resale value — Goyard, Van Cleef & Arpels, Louis Vuitton, Hermès and Chanel respectively — earned consignors the most of their original investment back last year, and show no signs of slowing down in 2021. 10% of adults now double vaccinated May More indoor and outdoor gatherings allowed, restaurants re-open, travel "traffic light" system set up For this post we've gathered 40+ real presentations from top consulting firms around the internet for you to review, analyze, and learn from. The Sun Is Setting on Traditional Banking. Customers purchase bags at a duty-free shop in Haikou, Hainan province, on Oct 1, 2021. Luxury goods sales surpass 2019 record, led by China, US: Bain. by Regional Countries 2016-2021 REGIONAL OVERVIEW 3 -4 2 5 7 1 5 3 7 4 2 -6-4-2 0 2 4 6 8 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 Saudi Arabia Iran United Arab Emirates Egypt Morocco Kuwait Iraq Oman Tunisia Lebanon Jordan 2016 2021 % CAGR 2016-2021 for Total BPC-2021 Department stores declined by 8% and went from 18% SOM to 15% in 2021.. We are pleased that it was well received by industry players and the investment community. Meanwhile, the jewelry sector (valued at $25 billion) posted a seven-percent increase. Luxury sales could return to 2019 levels as soon as this year after contracting for the first time in more than a decade in 2020, consultancy Bain and Italian luxury industry association Altagamma said in their closely watched industry forecast published Monday. Domestic spending in the luxury market . Bain & Company estimate that the second-hand luxury market reached €33 billion in 2021, a 65% growth on 2017 levels and exceeding the 12% ? 35% 49% 39% 60% Large and Resilient TAM Global Market for Personal Luxury Goods 2019E 2025F $300bn Luxury Purchases Online All the data and phenomena collected and analysed in this report are indicating that, the paradigm of China luxury market is drastically shifting . Bain estimates that growth will continue at a 4%-5% compound annual rate over the next three years (at constant exchange rates), with the market for personal luxury goods reaching €295-€305 billion by 2020. April 2021. The overall luxury market - encompassing both luxury goods and experiences - shrunk at a similar pace and now is estimated at approximately €1 trillion. Secondhand luxury goods sales are not included in Bain's personal luxury goods market size estimate, but in 2021, Bain reports they will account for €33 billion or $38 billion in sales, up 27% . Source: PwC's June 2021 Global Consumer Insights Pulse Survey 1 2 3 June 2021 March 2021 Fast/reliable delivery 42% Fast/reliable delivery 41% In-stock availability of items I want 38% In-stock availability of . -12.2% 51.4% US$2.5 billion Luxury brands spent decades turning design, aspiration, and high-quality goods into a $380 billion global behemoth. Managing the Next Decade of Women's Wealth. This segment reported 19 deals, with the majority of targets focusing on luxury resale. the market was the luxury resale and rental space. • In the luxury beauty category, e-commerce grew by about 60% YTD as of October and online penetration will increase from approximately 28% in 2019 to about 38% in 2020, driven by skin- care and fragrance. While the outlook for this year remains uncertain, in a bullish . $200K $400K $600K $800K $1.0M $1.2M So $543K $1.1M $467K $475K $660K Lkwd $455K Puyallup The authors extend their gratitude to all those who contributed to it, especially to the global Bain team, including Viktor Subbotin, Egor Fetisov, Arina Lapina, Anton Matalygin, Julia Gavrilova, Masha Shiroyan, and Bain's Mining and Luxury Goods practices. Urbanization, digitalization, and increase in popularity of online . Bain estimates that the secondhand luxury market soared to €33 billion in 2021, driven by surging demand and an increasingly competitive offer. Luxury Handbag Market Outlook 2031. Last year, as international luxury brands were faced by . As the longtime design director for J. Mendel (prior to which he was at Halston), he spent a decade honing his knack Each has its strengths and weaknesses, and each provides a different look into how top quality consulting presentations get created and delivered to clients. • The insights are based on Bain's triangulation of information and sources, available as of November 5th 2021and includes: - Data regarding the outbreak of the Covid-19and consequential lockdown across countries -Macroeconomic data (e.g., GDP, consumer confidence index) and the latest forecasts 8 The State of Fashion 2021 . Interestingly enough, the pandemic caused this market to experience its worst dip in history. The Jing Daily KraneShares China Global Luxury Index tracks the global market performance of the luxury sector, with an emphasis on luxury business in China. Global Risk 2021: Building a Stronger, Healthier Bank. 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