Bain&Company news and archive

Insights into China's luxury market growth in 2024

After a robust rebound in 2023, China's luxury market is anticipated to grow at a mid-single-digit rate in 2024, according to Bain & Company's China Luxury Report. The market saw a 12 percent YoY increase in 2023, recovering from the pandemic-induced decline in the previous year. While the first half of 2023 witnessed a strong rebound, the...

BusinessFeatured

Amid climate change concerns, consumers willing to pay more for sustainable products

Amid growing global concern over extreme weather and its environmental repercussions, Bain & Company has released new research indicating that over 60 percent of businesses are falling short of their current sustainability goals. Notably, an increasingly conscientious consumer and employee base may play a pivotal role in this process. Bain’s...

BusinessFeatured

Luxury goods market maintains robust growth momentum

The global market for personal luxury goods continues to grow, with a record-breaking 2022 and an additional 10 percent growth in Q1 2023, according to data from Bain & Company. The recovery of Chinese consumption and strong performance in Europe are driving this expansion, despite concerns about the US market and various macroeconomic...

Business

China's luxury market shrank 10 percent in 2022

China’s luxury market contracted 10 percent in 2022, according to insights published by consultancy firm Bain & Company on Tuesday. After five years of successive growth, China’s zero-Covid policy slowed economic spending, Bain’s report said. Despite the tough year for luxury brands in China’s market, the outlook is positive, with growth to...

BusinessFeatured

Luxury goods market ‘leaps forward’ in spite of economic turbulence, new report says

A new report by Bain & Company has said that the global luxury market took a “further leap forward” during 2022, despite uncertain economic conditions. In the 21st edition of its ‘Luxury Study’, which was carried out alongside Italian luxury goods’ manufacturer Altagamma, the consulting agency suggested that the sector “remains poised” to see...

Retail|Report Featured

Consumers want to shop sustainably, what are the opportunities for brands?

Consumers are weighing sustainability decisions when it comes to shopping for clothing, with half of shoppers expected to consider the environmental impact of what they buy. The data comes from Bain & Company and WWF Italy’s latest report, which says shopping and purchasing trends among global fashion consumers are shifting towards sustainable...

BusinessFeatured

New partnership aims to support usage of blockchain in the luxury industry

The Aura Blockchain Consortium, founded by LVMH, Prada Group, and Cartier, part of Richemont, and OTB Group, have announce a partnership with Bain & Company. The addition of Bain & Company as the exclusive knowledge partner aims to guarantee a world-class onboarding and strategy development for luxury brands working with Aura. Accessible...

Business

Global luxury goods market expected to grow 8 percent in 2018

The global personal luxury goods market is expected to grow 6 to 8 percent in 2018, according to a report by market monitor Altagamma and management consulting firm Bain & Company. Leather accessories and jewelry are the product categories expected to grow the most (7 percent), while apparel is expected to grow at a slower rate, at 4 percent....