Industry | 2009.10.21
Strength by Luxury Goods Shoppers in Asia and Online Bring Glimmers of Hope to Beleagured Industry, Says Bain & Company in Release of Annual Worldwide Market Study
MILAN--(BUSINESS WIRE)--Buoyed by a projected 12% year-over-year increase in sales in 2009 in mainland China and 20% growth of sales online, the decline for the worldwide luxury goods industry will be less than expected in 2009 and poised for 1% overall positive sales growth in 2010; this is according to findings from the 8th edition of Bain & Company’s annual ‘Luxury Goods Worldwide Market’ study. Sales for 2009 are projected to decline by 8% to €153 billion worldwid
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