Global luxury sales could collapse up to 60% in the second quarter, consulting firm says

Bain predicted a full-year contraction between 20% to 35% for the personal luxury market that includes clothes, jewelry, watches, beauty products, and accessories.

A new report from Bain & Company predicted global sales of personal luxury goods could fall as much as 60% in the second quarter due to the coronavirus pandemic.

Bain said predicted sales for all of 2020 is expected between 180 billion euros to 220 billion euros , down from the estimated 281 billion euros in 2019.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

CNBC /  🏆 12. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Facebook announces first 20 picks for global oversight boardJournalists, legal scholars, a Nobel winner and a former prime minister will make ultimate content decisions for the embattled social network.
Read more »

Laid-off foreign workers have 60-90 days to get hired or leave - Business InsiderLaid-off H-1B and other temporary foreign workers have weeks to land a new job, or face health risks and closed borders in an attempt to return home
Read more »

Learn To Speak Up to 14 Languages With 60% Off Babbel's Top-Selling AppBabbel can teach the whole family a new language from home
Read more »

60 Years Ago, We Got the Pill. Today, We're Still Fighting to Keep It.'Even as we mark this anniversary, even as we all weather the COVID-19 pandemic, the people in power are actively working to take away the basic health care on which so many women rely.' Alexis McGill Johnson, acting president and CEO of PPFA
Read more »

60 Years Ago, We Got the Pill. Today, We're Still Fighting to Keep It.Alexis McGill Johnson, acting president and CEO of Planned Parenthood Federation of America, on the grim reality of birth control access.
Read more »

60 Years Ago, We Got the Pill. Today, We're Still Fighting to Keep It.'Even as we mark this anniversary, even as we all weather the COVID-19 pandemic, the people in power are actively working to take away the basic health care on which so many women rely.' - alexismcgill, acting president and CEO of PPact
Read more »