Luxury Consumption Rose Again In 2010
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financial crisis
Under the influence, global luxury consumption in 2009 dropped by 8% compared with the same period last year, but luxury goods consumption rose again in 2010.
Lu Wei Min Xuan, the world's largest luxury group, said he was "confident" of his performance this year.
The second largest in the world
Luxury goods
Rupel, President of group Richemont, which has Cartier, dunhill and Piaget brands, also said that this year the group has stepped out of the crisis and has increased the global market share.
PPR, the world's third largest luxury group, has also seen substantial growth in its performance this year, especially in the emerging economies, which will grow by 40%. (Gucci, Yves Saint Larent).
Swiss watch giant Swatch8 4 semi annual report shows: net income of 338 million euros, up 54% over the same period last year.
Turnover
Up 22.1% over the same period.
The Hermes group also said that this year's growth will be around 10%~12%.
Italy Prada group has just obtained 360 million euros loan from the bank, and its performance is expected to grow by 29% over the same period last year.
Belge, a luxury goods researcher at HSBC, said it expects global luxury goods to grow by 10% in 2010 and 7% in 2011.
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