Luxury Downturn Appears Cyclical, Not Structural
Discover Opportunity in the Luxury Sector’s Cyclical Downturn
After a robust post-pandemic recovery, the luxury sector faced a slowdown in 2024, driven by challenging comparisons, price increases, and softer spending from key consumer groups in China and the U.S. We believe this is a cyclical pause—not a structural shift.
The sector’s fundamentals remain strong, supported by enduring brand appeal, high barriers to entry, and market concentration among global leaders. As the correction of 2024–2025 runs its course, luxury growth is set to normalize. We see today’s downturn as an attractive entry point into high-quality luxury names.
Discover in our latest luxury cycles report what the key trends are that shape the global luxury sales.
