• Events
  • Think Tank
  • About us
  • The Swiss Center For Luxury Research
LoginSubscribe
  • Opinion
  • Business & Trends
  • Style & Experiences
  • Sustainability
  • Academic
  • Worlds of luxury
LoginSubscribe
SubscriberBusiness

Luxury quantitative forecasts for 2022

The global growth of the luxury sector is valued at 1,140 billion euros for 2022, according to the Worldwide Luxury Market Monitor of Altagamma-Bain. Which markets will drive this growth? Our analysis.

Bettina Bush Mignanego

By Bettina Bush Mignanego18 novembre 2021

The luxury sector should benefit in 2022 from more organic and less accelerated growth than in 2021 (Shutterstock)

121 Bn €

The global market for personal luxury goods in 2001

283 Bn €

The global market for personal luxury goods in 2020

11%

Growth forecasts for the leather goods sector in 2022

Matteo Lunelli, President of the Altagamma Foundation (DR)

For its anniversary edition, the 20th Altagamma Observatory presided by Matteo Lunelli gave the floor to luxury leaders and invited them to debate about future trends. On stage, the leaders that embody a certain conception of Made in Italy each deciphered the important changes they are facing. “Today we celebrate twenty significant years for our business, explained Matteo Lunelli, Chairman of the Altagamma Foundation, during which we have observed the luxury product market performances and trends which has grown significantly: it increased by 135% during the last two decades. In 2001, the global market of personal luxury products totaled 121 billion and is today valued at 283 billion euros in growth vs 2019. But beyond size, the market has fundamentally changed. Twenty years ago, China did not play such an important role, while it should be absorbing over half of the total luxury market by 2025.

Brands have become media-focused companies

Matteo Lunelli, president of the Altagamma Fondation

When we launched the foundation, digital did not even exist. The world of luxury went from exclusivity to inclusion. Before that, luxury essentially circled around products and distribution, while now, brands have become media-focused companies. They have to create value for shareholders, as well as the community.”

Brands: catalysts of social and cultural change

To continue reading this articles, subscribe now

CHF 10.- per month / CHF 99.- per year

Subscribe
  • Unlimited access to all paid content
  • Industry analysis you won't find anywhere else.
  • In-depth case studies on key business challenges.
  • Academic analyses, studies and publications written by professors and researchers from the Swiss Center for Luxury Research and some foreign universities.
  • Members-only events to grow your knowledge and network.

Share the post

Keep reading

Luxury forecast for 2021
Business

Luxury forecast for 2021

After this year’s record losses, according to the latest Altagamma – Bain Worldwide Market Monitor update, the luxury industry is headed for a rebound.

By Bettina Bush Mignanego

“We are transitioning towards a new concept of luxury” Matteo Lunelli, Altagamma President
SustainabilityFeature

“We are transitioning towards a new concept of luxury” Matteo Lunelli, Altagamma President

The global crisis triggered by the Covid-19 pandemic has hit the world of luxury hard. Drastic decisions had to be made to save the sector, […]

By Bettina Bush Mignanego

Register

Weekly Newsletter

Be notified of the latest publications and analyses

Register
  • About us
  • Newsletter
  • contact@luxurytribune.com

    Made by Antistatique