New Delhi, Oct. 25 -- The global luxury goods industry is expected to witness a recovery after several years of sluggish sales performance, with revenues of major listed luxury brands projected to grow by 7 per cent in 2027, with the US likely remaining the "bright spot," according to a report by Goldman Sachs.

Goldman Sachs noted that the luxury goods industry has faced several challenges, including China's prolonged property market slowdown, US tariffs in 2025, volatile equity markets, higher interest rates, upcoming US midterm elections, the ongoing Middle East conflict and broader geopolitical tensions, which have affected consumer spending decisions.

However, the report highlighted that sharp price increases following the Covid-19 ...