MILAN — The luxury goods sector is expected to log only a 2 percent gain in 2013 revenues to 217 billion euros, or $299.5 billion at current exchange, hurt by second- and third-quarter results that are “close to stagnation” and by currency headwinds, according to the most recent study by Bain & Co. and Fondazione Altagamma, the Italian luxury goods association, presented on Monday morning here.
“The super-growth of the past few years was destined to calm down,” said Claudia D’Arpizio, a partner at Bain & Co. “The positive aspect for luxury brands is that now they can shift their attention from keeping up with the present to planning the future.”
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)