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Sales of luxury goods worldwide are likely to fall between 2 percent and 5 percent this year, consultancy Bain & Co forecast on Wednesday, sharply downgrading its previous estimate for 0-4 percent growth and signalling further gloom for the sector after 2024’s 1 percent drop.
Ahead of its closely-watched spring report, Bain said the luxury market was experiencing “more complex turbulence across multiple axes.”
It cited economic pressures and price fatigue over the first three months of…
