Key Takeaways Global luxury spending is projected to grow 3-5% in 2026 after a flat 2025, following a prolonged slowdown.China's luxury demand weakened early in 2025 but stabilized later, fueling hopes of renewed growth in 2026.Kering could benefit from a 2026 rebound on Gucci-led portfolio gains in China and emerging markets.In 2025, the global luxury goods sector faced a prolonged slowdown, hit by economic headwinds, shifting consumer preferences and geopolitical disruptions, including elevated tariff spi ...