Luxury sector remains optimistic

Consultancy predicts 4% growth in luxury products for 2010

International consultancy Bain & Co has forecast 4% growth for the world luxury products sector in 2010 after an 8% downturn last year. The consultancy is maintaining this forecast despite the more recent drop on the stock markets in the wake of the economic crisis in Greece.

Sales in the sector rose by about 15% overall in the first quarter this year following the end of de-stocking and the favourable effect of comparisons with 2009, which was an especially poor year for the sector.

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