Long Term Lull Expected in Global Luxury Goods Due to COVID-19

While some luxury goods categories and retail channels may be less negatively affected than others, the COVID-19 pandemic is an unprecedented shock to the entire luxury goods industry. Many consumers cannot justify buying personal luxury goods such as leather goods, fashion, watches and jewellery - as many see no opportunity to use them in the foreseeable future. The impact of travel restrictions are also largely impacting the luxury space, as the Chinese are the biggest single in...