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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...

20 Nov 2020