The 18 Luxury Brands Young Europeans Most Want to Own While we’ve known for a while that young consumers’ attitudes and behaviors toward high-end goods have led to a redefinition of luxury, we also know that Gen Z and Millennials aren’t turning their backs on luxury—and that they’re already buying. We told you earlier this month that the majority of 13-39-year-olds in Western Europe have already purchased a luxury item, and that nearly a third say they’ll likely care more about owning high-quality, expensive products in the future, meaning the industry stands to grow as young consumers (and Millennials in particular) continue to dominate the market. We’ve already started seeing this in action, too. Though global luxury sales dropped 23% in 2020 for a loss of €64 billion ($79 billion)—the market’s largest-ever fall and the first decline since 2009—2021 saw a rebound as life (and employment) began to normalize for Gen Z and Millennials. Global sales of personal luxury goods in 2021 were 4% higher than in 2019, pre-pandemic, according to consultancy firm Bain...
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