Bain&Company news and archive

Fashion's digital reckoning: Why the EU's Product Passport mandate will reshape the Industry

As the European Union tightens its grip on environmental regulation, fashion brands across the continent, and beyond, are bracing for a seismic shift. At the heart of the upcoming regulatory wave lies the Digital Product Passport (DPP), a central feature of the Ecodesign for Sustainable Products Regulation (ESPR), which becomes enforceable in...

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Global luxury market risks facing its worst turbulence in 15 years

Paris - The global luxury market was expected to slow down in 2025, hampered by the geopolitical context and economic uncertainties, with the risk of experiencing its worst turbulence in 15 years. However, the long-term outlook remained positive, according to a study by consulting firm Bain & Company. Luxury sales, "sensitive to uncertainty, are...

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China's luxury market: Challenges from last year to continue into 2025, ‘flattish’ performance forecasted

A new report by Bain & Company has suggested that “China’s luxury market failed to maintain its previous growth trajectory” throughout 2024, after it experienced an "unexpected and sharp deceleration that worsened throughout the year”. In the report, entitled ‘2024 China Luxury Goods Market’, it was stated that the mainland luxury market saw a...

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Insights into China's luxury market growth in 2024

After a robust rebound in 2023, China's luxury market is anticipated to grow at a mid-single-digit rate in 2024, according to Bain & Company's China Luxury Report. The market saw a 12 percent YoY increase in 2023, recovering from the pandemic-induced decline in the previous year. While the first half of 2023 witnessed a strong rebound, the...

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Amid climate change concerns, consumers willing to pay more for sustainable products

Amid growing global concern over extreme weather and its environmental repercussions, Bain & Company has released new research indicating that over 60 percent of businesses are falling short of their current sustainability goals. Notably, an increasingly conscientious consumer and employee base may play a pivotal role in this process. Bain’s...

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Luxury goods market maintains robust growth momentum

The global market for personal luxury goods continues to grow, with a record-breaking 2022 and an additional 10 percent growth in Q1 2023, according to data from Bain & Company. The recovery of Chinese consumption and strong performance in Europe are driving this expansion, despite concerns about the US market and various macroeconomic...

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China's luxury market shrank 10 percent in 2022

China’s luxury market contracted 10 percent in 2022, according to insights published by consultancy firm Bain & Company on Tuesday. After five years of successive growth, China’s zero-Covid policy slowed economic spending, Bain’s report said. Despite the tough year for luxury brands in China’s market, the outlook is positive, with growth to...

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Luxury goods market ‘leaps forward’ in spite of economic turbulence, new report says

A new report by Bain & Company has said that the global luxury market took a “further leap forward” during 2022, despite uncertain economic conditions. In the 21st edition of its ‘Luxury Study’, which was carried out alongside Italian luxury goods’ manufacturer Altagamma, the consulting agency suggested that the sector “remains poised” to see...

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Consumers want to shop sustainably, what are the opportunities for brands?

Consumers are weighing sustainability decisions when it comes to shopping for clothing, with half of shoppers expected to consider the environmental impact of what they buy. The data comes from Bain & Company and WWF Italy’s latest report, which says shopping and purchasing trends among global fashion consumers are shifting towards sustainable...

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New partnership aims to support usage of blockchain in the luxury industry

The Aura Blockchain Consortium, founded by LVMH, Prada Group, and Cartier, part of Richemont, and OTB Group, have announce a partnership with Bain & Company. The addition of Bain & Company as the exclusive knowledge partner aims to guarantee a world-class onboarding and strategy development for luxury brands working with Aura. Accessible...

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Luxury sales to fall 23 percent, back to 2014 levels, says report

2020 has been a reckoning for the fashion and luxury industries, recording one of the worst years with sales down 23 percent over 2019. A new report by Bain shows the drop is the largest recorded fall since it began tracking the luxury industry. The overall market, it says, shrunk for the first time since 2009. Other findings show e-commerce...