How Global Luxury Travel Trends Will Impact Fashion
Tapping into the touristic expenditure of wealthy consumers has long been a cornerstone of the luxury industry. In 2022, it was not just at home that Americans continued to shop — as pandemic-related travel restrictions lifted, shopping in Europe was made even more attractive to Americans bolstered by a strong dollar against the euro and pound sterling. Luxury brands in Europe cited American tourists as a key driver of increased first-half sales, including a 47 percent rise at LVMH and 53 percent rise at Kering, according to the company’s financial reporting.
However, while traveling Americans mattered most last year, this…
