Global luxury goods market is forecast to shrink in 2025

MILAN  — Global sales of personal luxury goods are forecast to shrink in 2025 for the first time since the Great Recession, according to a Bain consultancy study released Wednesday. The outlook could worsen if the sector is hit by tariffs promised by Donald Trump. “This could be a nightmare if implemented,’’ Claudia D’Arpizio, co-author of the
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