The evolution of the luxury market and its impact on wool and cashmere

摘要

The global luxury market is facing a range of challenges after many years of strong growth. These include a slowing of enthusiasm among Asian consumers; a reduction in particular in purchases made by affluent Chinese, who are pulling back in the wake of tough anti-corruption measures; sanctions affecting wealthy Russians; volatile exchange rates; and geopolitical instability. The result is that shares in a number of major luxury goods groups have fallen, while redundancies have also been made.