Luxury knows no bounds

June 7, 2012 No Comments » Add Consumer Insight
Luxury knows no bounds

THE international market for luxury goods such as fine art, fast cars and expensive jewellery is worth $1.4 trillion a year, despite generally negative perceptions of the global economy, a report shows.

The report, released by the Boston Consulting Group this week, claims luxury spending is likely to increase by 7 per cent over the next year, pushed up by affluent segments of developed and emerging countries.

''Overall, the worldwide luxury market has shown itself to be robust,'' authors said.

''The uncertainties and worries that characterise most of today's economic headlines are nowhere apparent in recent reports on the world's luxury players.''

Full Article @ TA