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1、Finding a New Longevity for LuxuryAfter stabilizing in 2025,the industry can now reinforce its enduring value,according to the Bain-Altagamma Luxury Goods Worldwide Market Study.Copyright 2026 Bain&Company,Inc.All rights reserved.AcknowledgmentsThe Luxury Goods Worldwide Market Study was authored by

2、 Claudia DArpizio,Federica Levato,Andrea Steiner,and Giulia Babbini.This report was written by Jolle de Montgolfier and Hlne Glaser.Claudia DArpizio()is a Bain&Company partner based in Milan and the leader of the firms Global Luxury and Fashion vertical.Federica Levato()is a Bain partner and a leadi

3、ng member of the Luxury and Fashion vertical.She is based in Bains Milan office.Andrea Steiner()is a senior manager in Bains Milan office.He also works with the firms Luxury and Fashion vertical.Giulia Babbini()is a consultant in the firms Luxury and Fashion vertical.She is based in Bains Milan offi

4、ce.Jolle de Montgolfier()is Bains global practice executive vice president for Retail and Luxury.She is based in the firms Paris office.Hlne Glaser is a practice manager in Bains Retail and Luxury practice.She is based in the firms Paris office.1Finding a New Longevity for LuxuryContentsExecutive su

5、mmary .2Luxury spending trends in 2025 .6Regional highlights .12Distribution trends .15Individual category performance .18Customer base dynamics .22Outlook for the future .25Appendix.292Finding a New Longevity for LuxuryExecutive summaryThe 24th edition of the annual Luxury Study,released by Bain&Co

6、mpany and Fondazione Altagamma,the trade association of Italian luxury goods manufacturers,estimates that overall luxury spending totaled 1.44 trillion globally in 2025,representing a marginal decline of 1%to 3%from 2024s total at current exchange rates.At constant exchange rates,the year-over-year