The luxury market follows a growth trend of 7% in 2018



Bain & Company confirms its forecast for 2018, at least at the constant exchange rate. Joëlle de Montgolfier, Director of the Department of Study and Research Consulting, announced on November 9-10 in Paris the fashion festival Vogue that the annual report to be presented this month will show the world's turnover in luxury luxury goods 280 billion euros (about $ 314 billion), which includes fashion, jewelry, leather goods, beauty, etc.

Joëlle de Montgolfier, Bain & Company, November 9 at Vogue Fashion Festives – FashionNetwork.com

The figure is in the range predicted at the beginning of the year, and represents a general growth of 7% at constant exchange rates. "On the other hand, given the strong volatility that currencies suffer this year, we will be below 6 to 8% at current rates," explained Joëlle de Montgolfier.

This year will confirm the decline that occurred in 2017, with growth more than confirmed, according to the director of studies and research. "The recovery of the continental market was confirmed in 2018 and this is accelerating," he said.

Good health, which could become a stumbling block for luxury, according to her. "This is an opportunity for the industry to work so well, but it is also a danger, some do not measure the necessity of transforming its model," he said on the stage at the Vogue Fashion Festival.

"We can continue to wave, but we must understand that the wave will not last forever," he added in connection with the digital problem, the knowledge of customers, the millennia, the agility of large historical luxury structures, as well as sustainability.

In the end, Joëlle de Montgolfier gave his opinion. "There were no big scandals in luxury durability homes, but now we see weak signals, especially in the field of animal welfare, and I believe that the houses have responded quickly in general. Be careful, overburdened by controversy, linked to leather goods or the gemstones sector, the potential for problems has now doubled, "he said.

It should be added that this is an issue that goes beyond the potential impact on the luxury home image, this issue is very worrying for sector investors in the risk assessment.

As a warning, after this year, when the constant exchange rate growth will be 7%, Bain & Company forecasts for future years for growth of 4% or 5%. "We will not enter the two-dimensional dynamics," warns Joëlle de Montgolfier.

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