The estimates from the consulting firm "Bain & Company" indicated a 2% decline in luxury personal goods sales this year, making it one of the weakest years for the sector. This decline is attributed to rising prices and unstable economic conditions, which have led to a reduction in the customer base by about 50 million clients over the past two years, resulting in approximately 350 million clients after it was nearly 400 million.
According to the report "Bain & Company," which monitors the global luxury goods market, its value currently stands at around 363 billion euros (386 billion dollars), and it is expected that sales in China will decline between 20% to 22%. This decrease is a pressure factor on the sector after years of strong growth.
