Calls for luxury sector to reinvent itself
13/01/2010
Paris-based newspaper Le Figaro has quoted a research agency, Eurostaf, as saying the luxury goods industry enjoyed 7.5% annual growth between 2003 and 2007, but that, by 2008, this had dropped to 0.3%. The report said the industry was almost certain to register negative growth for 2009.
Eurostaf said that companies specialising in high-end footwear and leathergoods, including Louis Vuitton, Gucci, Hermès, were likely to have suffered relatively little in comparison to brands specialising in expensive tableware, champagne, watches and jewellery.
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