After suffering a blow during the Covid-19 pandemic, the luxury personal goods market has recovered quickly – it is estimated to have reached €362 billion in 2023. The sector is expected to continue growing, driven in particular by luxury goods purchases by tourists – and has already returned to levels close to pre-pandemic levels.

Asia is the main market for the luxury sector, both due to high domestic demand and the increase in Chinese tourists who have been purchasing luxury goods. Europe, the sector's second-largest market, also owes part of its growth to the resumption of tourism in recent years.

The luxury market also underwent transformations in the profile of its buyers between 2019 and 2023. With millennials approaching their years of greatest income generation and Generation Z approaching their years of greatest cultural influence on the rest of society, Generations Y and Z gained more space in spending within the luxury goods sector.