21 Apr, 2018 @ 16:04
1 min read

Luxury shopping market in Spain growing more than DOUBLE global average

A pedestrian carries Gucci-branded shopping bags and a Louis Vuitton SA handbag as she walks along the Rue du Rhone in Geneva, Switzerland, on Saturday, June 9, 2012. Swiss economic growth unexpectedly accelerated in the first quarter, led by consumer demand. Photographer: Valentin Flauraud/Bloomberg via Getty Images

SPAIN’S luxury shopping market is expected to more than double by 2025.

It comes after a report by Bain & Co and Spanish luxury industry group Circulo Fortuny last week showed the Spanish luxury market was growing at twice the global average rate.

Worth €9.2 billion last year, it is still three times smaller than France and Italy, but it will more than double to €20 billion by 2025.

The news is set to benefit Spanish luxury brands like Loewe, Puig, Tous and San Patrick, which are looking to capitalise on this growth.

“The Spanish luxury market is still quite small, but it is growing fast,” said Claudia D’Arpizio, a partner at Bain and lead author of the report.

“It is a big opportunity for companies in this sector.”

The growth comes as Spain exits its decade-long financial crisis and has since 2014 turned into one of Europe’s fastest-growing economies.

Staff Reporter

DO YOU HAVE NEWS FOR US at Spain’s most popular English newspaper - the Olive Press? Contact us now via email: newsdesk@theolivepress.es or call 951 273 575. To contact the newsdesk out of regular office hours please call +34 665 798 618.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

drinking e
Previous Story

Drinking excessively could take up to FIVE years off your life

marbella w hotel e
Next Story

Three Costa del Sol towns are driving Malaga’s property market into the top of national rankings

Latest from Business & Finance

Go toTop

More From The Olive Press