West to East: A ‘Glocal’ Shift in the Luxury Industry

Worldwide sales of luxury goods in 2019 stood at US$ 305 billion. Following a temporary fall in sales due to the COVID-19 pandemic, sales in 2021 were US$ 294 billion. In the period of 2023 to 2028, the luxury goods market is forecast to grow at a CAGR of 4%. Earlier this year, the Retail...