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Sina Financial News October 19, according to foreign media reports, the U.S. and Asia this year appears surprisingly strong luxury goods rebound, sales of luxury goods in China increased by 30%, an increase of male again standing at the top across all regions. According to consulting firm Bain said that in five years China will become the world's third-largest luxury goods market.
forecast, according to Bain, the global luxury goods sales will grow 10% this year to 1680 million euros (235 billion U.S. dollars), far higher than its April forecast of 4% growth and the 2008 sales.
addition to sales of luxury goods in China increased by 30%, U.S. sales increased 12%, while the slow recovery in Europe, an increase of 6%. Only Japan continues to decline, sales fell 1%.
but Bain predicted that sales growth will slow next year, partly due to continued depreciation of the dollar against the euro and the strong sales in 2010. It also forecast 2011 sales to grow by 4-5%, is more consistent with historical growth rates.
These projections indicate that sales fell 8% last year (this is the worst ever performance of the luxury market),[link widoczny dla zalogowanych], the luxury goods industry has a substantial recovery.
Bain partner in Milan • Bag Qiao Claudia said: \
Despite fears that the U.S. economy's health, but in September the latest data showed the U.S. luxury department stores performed better than other retail sectors. Rise in the number of wealthy tourists this year to promote the sale of luxury goods,[link widoczny dla zalogowanych], especially from Chinese tourists.
as sales stronger than expected, the largest luxury goods company's shares rose sharply this year. Paris-based Hennessy Louis Vuitton, the Swiss watchmaker Swatch, which owns Cartier and Montblanc Richemont two brands,[link widoczny dla zalogowanych], and fashion and leather goods group Hermes share price in the past 12 months gone up by more than 50%.
Last week, the world's largest luxury goods company (in sales terms) Hennessy Louis Vuitton said in the first 9 months sales rose 14%.
British fashion group Burberry has reported that as of the end of September in the most recent quarter, sales double-digit growth.
Bain said that demand has picked up big brand is the biggest winner,[link widoczny dla zalogowanych], they can invest and open new stores to better respond to the crisis. Bain noted that with the men to re-purchase of watches, dresses, shoes and other fashion products,[link widoczny dla zalogowanych], men's luxury goods sales growth of Miss Gao Yu luxury. (Jun-ping)