After a prolonged slowdown, the global luxury sector is gradually returning to growth in 2026, led by the US and China, but overall growth will likely be muted, expanding at an annual rate of 4-6 per cent till 2030, a BoF-McKinsey report noted.
Rekindling growth will not be easy for many brands as growth in experiences like travel is overtaking product buying, while inflation has dampened fashion appetite.After a prolonged slowdown, the global luxury sector is gradually returning to growth in 2026, led by the US and China, but overall growth will likely be muted, expanding at an annual rate of 4-6 per cent till 2030, a BoF-McKinsey report noted.
Rekindling growth will not be easy for many brands as growth in experiences like travel is overtaking product buying, while inflation has dampened fashion appetite.
