The global luxury market rebounded strongly in 2021 after a pandemic-driven decline, growing to about €1.14 trillion but still below 2019 levels. Recovery was led by personal luxury goods, which saw a V-shaped rebound and surpassed pre-Covid levels, driven by strong local demand in China and the US and reduced reliance on tourism. Spending shifted from experiences to goods, with categories like accessories, jewelry, and shoes outperforming, while apparel lagged. Online channels and direct retail expanded rapidly, and the secondhand market grew significantly. Looking ahead, the industry is expected to sustain moderate growth, shaped by rising influence of Chinese consumers, digital channels, and younger generations, alongside increasing expectations for personalization, sustainability, and

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