MILAN — The luxury sector will mainly grow organically in the next decade, boosted by 440 million consumers that will spend a total of 880 billion euros, or $1.2 trillion, in 2020, according to the first True Luxury Global Consumer Insight study presented here Tuesday by Fondazione Altagamma and Boston Consulting Group. Today, 380 million consumers of luxury goods spend around 730 billion euros, or $998.5 billion, on personal luxury goods.
Antonio Achille, partner and managing director of Boston Consulting Group, touted the research as “the most complete ever on the luxury consumer,” with more than 40,000 shoppers analyzed in 20 countries. “Retailing is a science, you can’t improvise it,” said Achille.
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)