Bain: Global luxury sales to fall 2% in 2024, among weakest years on record

FILE - Louis Vuitton logo brad is seen outside a Louis Vuitton store in Paris, Jan. 27, 2020.

Sales of personal luxury goods are set to fall 2% this year, making it one of the weakest on record, with price hikes and economic uncertainty shrinking the industry's customer base, according to consultancy Bain & Company.