MILAN (AP) — Luxury consumers are cautiously resuming purchases of apparel, handbags and cosmetics despite continued geopolitical uncertainty, fueling a likely return to modest growth in the sector this year, the Bain & Company consultancy said Thursday.
After two years of contraction, global sales of personal luxury goods are forecast to grow 2% to 4% in 2026, reaching 365 billion euros to 373 billion euros ($415 billion to $424 billion), up from 358 billion euros last year, Bain said in a semi-annual study. The recovery is expected to be led by the Americas, where some U.S. luxury brands posted first-quarter growth of as much as 15%.
