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The global luxury goods market will continue to report a double-digit percentage growth rate in 2011. Sector sales will rise this year by 10 percent to a total of EUR 191 billion. The long-term growth rate is also being upgraded. The luxury sector is expected to report annual average growth of 6 to 7 percent up to 2014.
Global luxury goods sales are defying initial concerns over Eurozone turmoil and fears of a cool-down in emerging markets.
The global market for luxury products reports constant growth. Bain & Company anticipates that the international luxury goods industry will increase by total of 8 percent in 2011 to reach EUR 185 billion.
The global crisis of the luxury goods industry ended in the fourth quarter of 2009 – a year in which the sector was forced to report its first downturn in overall sales in its history.
Sales in the internationally luxury goods segment will increase by 4 percent to prospectively EUR 158 billion in 2010.
What more than 5,000 women told Bain and Vogue magazine about their buying behaviors.
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