Customers quit luxury brands amid price hikes: consulting firm


By Xia Lin
  • World
  • Thursday, 28 Nov 2024

NEW YORK, Nov. 27 (Xinhua) -- Luxury brands have lost about 50 million customers in the last two years, and the secondhand market is gaining traction, with strong momentum on jewelry and heritage apparel and leather pieces, according to consulting firm Bain.

Demand for luxury goods is expected to be flat in 2024 at constant exchange rates, according to the firm.

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