In this episode of Seen and Heard, we're analyzing a decline in the global personal luxury goods market. Diamonds are for ever, they say. Well, about $2 billion of them have been in De Beer’s inventory for most of 2024. Prices of top-end Burgundies and vintage Champagnes fell sharply as demand from Chinese buyers dried up.

We dive deep into Global personal luxury goods market report from Bain and Company and what Former LVMH chair of North America Pauline Brown has said about the state of the industry in 2024.

De Beers amasses biggest diamond stockpile since 2008 financial crisis

https://www.ft.com/content/ab237eeb-1404-4fc9-af2a-6e0470406505

Fine wine market in the red as Chinese demand dries up

https://www.ft.com/content/23768d19-66fc-4252-9dd9-14f64ee82bbe

Luxury Stumbles in 2024 but Can Still Return to Solid Growth

https://www.bain.com/insights/luxury-stumbles-in-2024-but-can-still-return-to-solid-growth-snap-chart/#:~:text=The%2023rd%20edition%20of%20the,%E2%82%AC363%20billion%20in%202024.

Global luxury spending to land near €1.5 trillion in 2024, remaining relatively flat as consumers prioritize experiences over products amid uncertainty

https://www.bain.com/about/media-center/press-releases/2024/global-luxury-spending-to-land-near-1.5-trillion-in-2024-remaining-relatively-flat-as-consumers-prioritize-experiences-over-products-amid-uncertainty/

Luxury industry faces crisis: China slowdown and soaring prices

https://www.youtube.com/watch?v=0BPmybNOWvo&list=PLrgoRX3PL3Oh5oIZQe4O2OdMObOwKOnzk&index=1

Why Rolex luxury watch prices fell in 2024

https://www.youtube.com/watch?v=0BPmybNOWvo&list=PLrgoRX3PL3Oh5oIZQe4O2OdMObOwKOnzk&index=1&pp=gAQBiAQB