2021 will be also the second year of the Covid-19 pandemic, a year in which the virus will probably continue to affect global economies and demand for luxury goods. In fact it is likely, also given the uncertainty for the vaccination timeline, that the measures to limit the spread of the virus could remain in place for a good part of the year with possible negative impacts both on local traffic and, above all, on tourists flows.

According to the latest Bain-Altagamma 2020 Market Monitor - excluding other global waves of Covid-19 beyond 2020 or the sudden introduction of a vaccine - the personal luxury goods market is expected to recover to pre-Covid level between 2022E and 2023E with an implicit +8/+14% average yearly growth (CAGR) for the next three years, depending on the economic trends, the consumer confidence and the tourism flows.