Altagamma: the luxury industry will grow by 3% in 2016

The luxury industry will grow by 3% in 2016. The forecast comes from Altagamma which, together with leading international business analysts, estimated the industry trend for next year. Specifically, clothing will grow by 3%, a little slower than the 4% achieved in the past few years.

Foto: Corbis

In more detail: table art will grow by 2%, hard luxury (jewellery, watches, pens and lighters) 3%, leather, footwear and accessories 4%, and fragrances and cosmetics 4%.

In terms of markets, analysts forecast a 4% growth for Europe and 3% for North America. There will be a significant slow-down in Latin America (+1%), while Japan will grow 5%, Asia 2%, the Middle East 3%, and the rest of the world 3%.

According to Armando Branchini, Vice-President of the Altagamma Foundation "Organic growth will still be modest in 2016. There will still be a strong currency exchange impact. This will affect company pricing policies and the geographical flows of those consumers who are chiefly looking for low prices". All in all, Branchini has concluded, "growth will be more limited, modest but solid".

Fonte: Adnkronos

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