For entrepreneurs who cannot see the light at the end of the tunnel this year, don't lose hope. The global luxury market is expected to grow by up to seven per cent in 2012 despite the financial crisis, as China continues to drive consumption.
A study by an Italian foundation released on 23 July 2012 showed that sales will exceed the 200 billion euros mark but growth is forecast to fall short of the 10 per cent seen in 2011, due largely to slowdowns in consumption in Italy and Spain.
"The market outlook is very positive despite socio-economic turmoil: with an expected growth around six to seven per cent at constant exchange rates, the luxury market will exceed the record of 200 billion euros" in 2012, the Altagamma Foundation said.
"China continues to drive growth", with forecasts predicting an 18 to 22 per cent boom, while India, "the eternal promise of the luxury market, finally shows a growth acceleration" of between 15 and 20 per cent.
"Apart from Spain, Italy and Japan, high-end goods markets are growing significantly across the world," said Armando Branchini, secretary general at Altagamma Foundation, which monitors luxury markets worldwide.
On average, the luxury market is expected to grow between five and seven per cent in the Americas, between two and four per cent in Europe and between zero and two per cent in Japan, the report compiled by Bain&Company said.
Leather accessories, jewels and watches are the most dynamic markets.
A study by an Italian foundation released on 23 July 2012 showed that sales will exceed the 200 billion euros mark but growth is forecast to fall short of the 10 per cent seen in 2011, due largely to slowdowns in consumption in Italy and Spain.
"The market outlook is very positive despite socio-economic turmoil: with an expected growth around six to seven per cent at constant exchange rates, the luxury market will exceed the record of 200 billion euros" in 2012, the Altagamma Foundation said.
"China continues to drive growth", with forecasts predicting an 18 to 22 per cent boom, while India, "the eternal promise of the luxury market, finally shows a growth acceleration" of between 15 and 20 per cent.
"Apart from Spain, Italy and Japan, high-end goods markets are growing significantly across the world," said Armando Branchini, secretary general at Altagamma Foundation, which monitors luxury markets worldwide.
On average, the luxury market is expected to grow between five and seven per cent in the Americas, between two and four per cent in Europe and between zero and two per cent in Japan, the report compiled by Bain&Company said.
Leather accessories, jewels and watches are the most dynamic markets.
Posts
Luxury items are high-priced and can also become an investment. Maybe when I have saved enough for a luxury item, I will buy it. I like handbags and jewelry.
Mhar
http://www.leytestar.com/