“In this context, the sector’s companies are required to strategically retool, evolving from manufacturers into retailers to tap into evolving consumption trends, embedding rental options and circularity,” D’Arpizio explained. to move out of cities, a phenomenon described as “wealth ruralization.Īs suggested by luxury goods executives, homes are becoming tools of self-expression and customers are looking for functional and hybrid spaces serving different purposes, from shelter to hospitality and work.Ĭlaudia D’Arpizio, senior partner and global head of fashion and luxury at Bain & Co., said after a decade-long underperformance compared to other luxury sectors, the category is booming in light of customers’ renewed interest in their homes. market monitor, the sector is poised to reach 60 billion euros in revenues in 2026 leveraging the second wave of urbanization in China and a growing trend for the wealthiest in the U.S. Reflecting the brisk activity, in 2021 sales of high-end design furnishings reached 40 billion euros, up 14 percent versus 2020 and 7 percent compared to pre-pandemic levels.Īccording to an Altagamma and Bain & Co. While the city center was animated with cocktail receptions, glamorous parties as part of Milan Design Week’s roster of side events, reportedly attracting 400,000 visitors in town, most of the business action happened at the fair. Queen Elizabeth II’s Style Throughout the Years
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