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Personal luxury product sales to plummet in second quarter

CNBC 05/08/2020

A new report from Bain & Company forecasts a 60 percent drop in worldwide sales of personal luxury goods during the second quarter as a result of the coronavirus pandemic in the U.S., Europe, Asia and elsewhere. A separate luxury market report released by McKinsey & Company last month forecast a drop between 35 percent and 39 percent for the year.

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