A study says the global luxury goods market will shrink in 2025. Trump tariffs could make it worse
MILAN — Global sales of personal luxury goods are forecast to shrink in 2025 for the first time since the Great Recession, according to a Bain consultancy study released Wednesday. The outlook could worsen if the sector is hit by tariffs promised by Donald Trump. “This could be a nightmare if implemented,’’ Claudia D’Arpizio, co-author…