Tuesday, October 22, 2019

Luxury goods market feels no pain

Apr 29. 2019
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By The Nation

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The world’s top 100 luxury goods companies generated aggregated revenues of US$247 billion(Bt7,881 billion) in fiscal year 2017, representing composite growth of 10.8 percent, according to the 2019 edition of “Global Powers of Luxury Goods”, a new report from Deloitte Global.

Despite the recent slowdown of economic growth in major markets including China, the Eurozone and the US, the luxury goods market looks positive.

“In an age of fast changing trends, luxury companies are re-examining the value of brand heritage and history and are adopting an omni-personal approach focusing solely on the new age consumer,” noted Patrizia Arienti, Deloitte EMEA Fashion & Luxury Leader.

“To accomplish this, they are committed to making significant investments in digital technologies.”

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