Study: Luxury sales flatten amid creativity crisis, price hikes

FILE - A woman walks past the Gucci store window at the Via Montenapoleone fashion district, during the Milan's fashion week Sept. 25, 2020.

The post-pandemic surge in global sales of luxury handbags, shoes and apparel is set to stall this year amid a creativity crisis and price hikes as brands shift focus to the biggest spending customers, a new study by the Bain consultancy said Tuesday.