Global Personal Luxury Goods market reaches $288billion in 2021

Bain & Company

18 Jul 2022

After its worst dip in history during the global pandemic, the Luxury market is proving its resilience yet again with a spectacular ‘V-shaped’ rebound in sales

After its worst dip in history during the global pandemic, the Luxury market is proving its resilience yet again with a spectacular ‘V-shaped’ rebound in sales, reaching €288 billion in value in 2021. The market benefited from a strong 2021 holiday shopping season in all regions, with a reported 7% increase over 2019.


And it doesn’t look like this is a temporary blip either driven by ‘revenge buying’.


Bain & Co reported that the first quarter of 2022 to be up 17-19% continuing this incredible performance. However there are headwinds. China’s continued and extended lockdowns due to COVID-19 are undoubtedly going to have a significant impact on annual performance, with many larger luxury brands reported struggling sales in that market.


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(source: Bain & Co)