Italian Luxury Brands Need to Penetrate the U.S. Market

Feb 13, 2015 1005

The world's luxury goods market was a bit down in 2014, however 2015 expectations look to be brighter – reports Fondazione Altagamma and Bain & Company. Figures show that Italy is still a hotspot for luxury goods purchases, and Milan, the only Italian city in the world's top ten list for shopping destinations, still plays an important role.

New York city ranks first, at €22.3 billion, followed by Paris (€11.3 billion) and London (€10.1 billion), while Milan is 8th at €5.1 billion. Reports have shown that most of the purchases of high-end goods in Milan and in Italy in general, were not made by Italian shoppers, but by tourists, both from Europe and from outside the EU.

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