BAIN-ALTAGAMMA2019WORLDWDELUXURYＭARKETMＯNITORTHELUXURYCUSTOMERISPRESENTCLAUDIAD'ARPIZIOFEDERICALEVATONOVEMBER2019BAIN&COMPANYALTAGAMMACREATITAECUITURAITALIANA
GLOBALLUXURYMARKETSREACHING~E1,3T., WITH4%GROWTHIN2019ATCONSTANTEXCHANGERATESGlobal luxury markets (2019E|EB)1.268206+8%+4%@K2019281AMALuxuryCarsLuxuryFineWinesGoumetFood&High-ulityFineArtPrivateJets&Luxury CruisesTotal2019EGoodsHospitality&SpiritsFineDiningDe FurnitureYachts&Homeware2018-2019EAtcurrentexchangerates+7%+11%+8%+7%+6%+5%-16%+9%+13%+5%(-18%@K:at constant exchange ratesBAIN&COMPANYU
女口食食LUXURYFINEART&DESIGNFOOD&BEVERAGEOUT-OF-HOMETOYSFURNITUREEXPERIENCESEXPERIENCESLuxury cars marketFine art marketSpiritsconfirmed pastSlowergrowth foracceleratingvs. lastshrinking givenyears'vigoroustrend,luxury hotelyear; aspirationalscarcity of supplywith ginsegment;wellnesssegmentstilleadingboth in public auctionsoutperformingbecoming paramountgrowthand private sales;for experientialSingle-digit increaseonline speeding upfor wines, withtourismRecoveryofyachts,pushed by spurt ofwith increased focusexceptionalSustained growthforhybrid modelson sustainableperformance forluxury cruises, withoptions, yetPositivegrowthforspecific categoriesexpeditionsegmentundergoinghigh-qualitydesign(e.g., high-endconfirmedstarpolarization in sizefurniture, with livingprosecco)in selectedperformer once againand bedroom andgeographies.New and improvedlightingchampioningFood marketdrivenmodels fuelling rebirthgrowth and onlineby experientialsidein the privatejetmarket;secondhandoutpacing physicalgainingtractionovercontinuingtopurediningaccelerateBAIN&COMPANY@
GROWTHRATEOFLUXURYGOODSCATCHINGUPTOTHATOFEXPERIENCESGloballuxurvmarkets(2010-2019EIIndex=2010Experience-based goodsCAGRCAGRstill growing fast, despite'10-1717-'19Erecent contraction in fine artExperiences10%4%Experience-basedluxury jets and yachts9%5%goodsExperiencesslowingdownpersona Igoods6%5%in the last few years, mostlyimpacted by mild growth inluxury hotels.Personalgoodsstillgrowing in 2019,mainly2010201520162019Ethanks to personal luxury201120122013201420172018goods segmentBAIN&COMPANYO
THELUXURYCUSTOMERISHICETNUNCCHINESEYOUNG(er)PHY-GITAL(Here and Now)(increasingly)DIVERSE(in spendingpower andOPENRESPONSIBLEEMOTIONALpurchasingdrivers)
The luxury customerisHICETNUNC(Here andNow)
THEPERSONALLUXURYGOODSMARKETISEXPECTEDTOCONTINUEITSGROWTHTRAJECTORYIN2019New"SortiedutempleDemocratizationCrisisChinesebulimiaRebootnormal28126219E25424524418'1715'1621921220714'1318612167111611591501471013907'08122128'06'0911612212098'020300848876'99'98'97'9696-'19ECAGR十6%
SOLIDBASECASESCENARIOFOR2019. WITHTHECOMINGHOLIDAYSEASONPOTENTIALLYIMPACTINGANNUALGROWTH@K:at constantexchange ratesXX%LikelihoodWorstcaseBaseBest case10%case70%20%278281283262262262+6%.7%.8%YoYYoYYoY+4%15%@K@K@K20182019E20182019E20182019E·Perfomance during holiday seasonS3Iya。Evolution of Hong Kong situationDevelopment of the US/China trade warBAIN&COMPANY
THEGROWTHTRAJECTORYFOR2025REMAINS UNCHANGED;HOWEVERPOTENTIALBUMPSALONGTHEROADCOULD IMPACTTHEPATHPersonal luxury goods market forecast |EBSOLIDMID-TERMMACROFUNDAMENTALSＭ咖ＩE335-375BStrong consumer atitude fromrisingmiddle class towards ...
