“Analysts are cautiously optimistic on China’s recovery, but brands might not be ready to match demand with new stock.
A month after it published its initial forecast on the impact of the Covid-19 pandemic on luxury sales, consulting firm Boston Consulting Group is revising its estimates for a more negative outlook. Luxury brands should brace for a decline in sales between $85 and $120 billion in 2020, or around 29.2 per cent of the $350 billion luxury market. The fashion and luxury category as a whole will lose between $450 and $600 billion in sales” – voguebusiness.com
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