Luxury Goods Sales To Slow

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    Global sales of luxury goods will grow just two per cent in 2013 as purchases in China slow down, says a study by Bain & Company which estimates 2013 luxury sales at €217 billion ($300 billion), up from €212 billion in 2012. That’s a slow-down, however, from three years of double-digit growth. Sales of luxury goods in China are forecast to grow by just 2.5 per cent to €15.3 billion. The U.S. remains by far the largest luxury market with sales of €62.5 billion, followed by Japan and Italy – which are both in contraction – and then China.