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Country to account for half of the luxury sales by 2025

MILAN (AP) — Chinese consumers will remain the driving force for the luxury goods market, according to a new study by Bain consultancy released Thursday that shows they will fuel nearly half of global high-end sales by 2025.

Chinese shoppers will account for 46 percent of global luxury sales of an estimated 365 billion euros ($412 billion) in just six years, Bain said in the study, which was prepared for Italy’s Altagamma association of high-end producers. That’s up from one-third of all sales of luxury apparel, accessories and cosmetics last year.

Original Posted Article America Online Finance

Photo by S. A. Usama from Pexels

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