MILAN — The post-pandemic rise in worldwide sales of high-end purses, shoes and clothing is set to stall this year amidst a imagination crisis and rate walkings as brandnames shift focus to the mostsignificant costs clients, a brand-new researchstudy by the Bain consultancy stated Tuesday.
Bain is forecasting flat aroundtheworld high-end sales in 2024 following a minor first-quarter dip, according to the researchstudy commissioned by the Altagamma association. The consultancy pointedout political unpredictability throughout a governmental election year in the United States as well as financial unpredictability in China that has brought on a phenomenon of “luxury shaming.”
Beyond socioeconomic aspects and increasing geopolitical stress, the downturn is likewise partially “self-inflicted,’’ stated Bain partner Claudia D’Arpizio.
She mentioned a “creativity crisis,’’ in the sector, as a number of significant style homes are transitioning innovative directors, and a brand-new focus on the super-wealthy clients, at the cost of the aspirational middle class and Gen-Z children who sustained development before the pandemic.
“There is a absence of clearness for lotsof of these brandnames. They are making tries to gainback focus. It is 5, 6 brandnames under turn-around, huge ones. This is not assisting the general enjoyment,’’ D’Arpizio informed The Associated Press. “This is a