Editor
So far, the 21st Century has been good to “big luxury” players. The Great Recession in the late 2000s threw luxury brands a curveball. But they soon bounced back as new wealth creation, notably in China, continued to generate legions of shoppers eager to signal their arrival.
In 2000, the world had 15 million millionaires; by 2022 that number had roughly quadrupled to 60 million. At the same time, appetite for luxury goods grew fast among…
