November 17, 2010
Luxury Goods Market Rebounding
Did you know that in 2010 the luxury goods market has gone from bust to boom? Strong sales during the crucial holiday season could boost the industry to near-record sales says a recent Bain & Co. survey. Global sales may reach $237 billion for 2010, matching the industry’s banner year in 2007. Top luxury goods companies, including LVMH (Louis Vuitton Moet Hennessy) and Burberry both reported double-digit growth rates while stock prices for these companies as well as Gucci and Hermes have been among the best market performers. Internet distribution accounts for some of this growth as consumers can increasingly find exactly what they want, including carriage trade goods, in the online world.
