Luxury Market to Start Stabilizing In 3Q
According to the study from global business consulting firm Bain and Co, the luxury goods market experienced a 15-20 percent decline during the initial two quarters of 2009, declining from $219.81 billion in 2008 to nearly $197.82 billion. Bain estimated a 15 percent decline in luxury goods like jewelry sales in the Americas and 10 percent fall in Europe and Japan. These are areas which account for more than 80 percent of global sales. According …
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