Fashion and luxury industry to lose $450+ bn: BCG

  1. home
  2. > fashion
  3. > Fashion and luxury industry to lose $450+ bn: BCG
replay trump newslist
up NEXT IN 5 SECONDS sports newslist
tap to unmute
00:00/00:00
NaN/0

Fashion and luxury industry to lose $450+ bn: BCG

Apr 08, 2020 22:04 IST

Consulting firm BCG has estimated that the global fashion and luxury market should get ready for a decline of $85 to $120 billion in sales and losses upwards of $450 billion in 2020. BCG's fashion and luxury head added that while the 2008 crisis spared a large part of the wealthier class, the current health emergency affects all sections equally. Additionally, while the demand in the Chinese market may recover soon, sales may not rise as luxury production in Europe remains shut under national lockdowns.

Fashion