Growth Anticipated For Luxury Goods Market

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    Worldwide luxury goods market revenues will grow by seven per cent in the final three months of 2012 compared to 2011, culminating in full-year growth of 10 per cent, says ‘Luxury Goods Worldwide Market Study,’ a study by global management consultants Bain & Company. Revenues will see double-digit increases, reaching $275 billion. Sales in Asia-Pacific, driven by China, are projected to grow by 18 per cent. The Americas will see revenues rising by 13 per cent by year’s end. However, growth in Europe will be approximately five per cent – half of last year. Bain estimates that the luxury goods market will grow, in real terms by four to six per cent per year between 2013 and 2015, pushing the market to between $312 and $325 billion by mid-decade.