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Luxury Goods To Grow On The Back Of Emerging Markets
March 2008 | Top StoriesSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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Emerging markets are fuelling the luxury goods industry, by accounting for around 30% of global sales at present. As these economies develop, their large populations are demanding luxury goods, and they have the cash to spend on brands such as Hermés and Tiffany & Co. Meanwhile, luxury brands have realised that emerging markets are the place to grow, and are expanding into these markets, especially in the BRIC countries.