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Luxury Brands Will Have To Work A Lot Harder In 2017

Last year was a bad one for many companies selling expensive fashion, handbags, and jewelry. For the first time since the financial crisis of 2008, the global market for personal luxury goods failed to grow, stalling at €249 billion (about $258 billion).  Will Trumps tax proposal send their sails soaring or will his proposed tariffs interfere?

The good news is that 2017 should see a return to growth, according to a Dec. 28 report on the global luxury market by management consulting firm Bain & Company, only it won’t look anything like the boom years from 2010 to 2015, when global sales of such goods jumped 45%, fueled by Chinese consumers with high-end appetites. The slowing of China’s economy and its government’s ongoing crackdown on…

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