Covid: fashion and luxury -12%, Italy first in the top 100 ranking – Fashion

Covid: fashion and luxury -12%, Italy first in the top 100 ranking – Fashion
Covid: fashion and luxury -12%, Italy first in the top 100 ranking – Fashion

(ANSA) – MILAN, 01 DEC – Despite the pandemic, last year the 100 largest luxury goods companies in the world generated sales of 252 billion dollars, 29 billion less than in 2019 (-12.2% at constant exchange rates), but with a positive ‘profit margin’ of 5.1%. This is what emerges from the eighth edition of the Global Powers of Luxury Goods, the annual study of Deloitte, Fashion & Luxury at a global level.

Italy is confirmed as the first country of world luxury in terms of presence in the ranking of companies with four new entries in the Top 100. EssilorLuxottica seventh, Prada (23rd) and Giorgio Armani (29th) are the three main Italian players in the ranking, with Moncler which is the company with the “most consistent overall performance, ranking among the fastest growing companies for four consecutive years”, explains Deloitte.

In 2020 the importance of the best luxury brands is evident: the fifteen companies with sales of luxury products over 5 billion dollars, with French groups as always in the lead, contributed to 63% of the total sales of the Top 100 “In this period the sector has been able to reinvent itself and accelerate a considerable transformation process, bringing concepts such as sustainability, ‘omnichannel’, circular economy and innovation, at the center of its growth strategies for the next few years”, he comments Giovanni Faccioli, Deloitte Fashion & Luxury Leader for Italy. (HANDLE).

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