Blog: A look at luxury
Leonie Barrie | 6 September 2006
How long is the luxury trend likely to be hot? What can luxury designers do to better capitalise on the trend and make the trend last longer? How is luxury apparel best merchandised? How can luxury designers create better market share? And what opportunities still exist in this market? These are just a few of the questions tackled in a new report from just-style that reviews the global market for luxury apparel and puts forward forecasts for the sector to 2012.
The report concludes that the luxury market is back and growing stronger than ever. This bright future includes growth of roughly 10-15% annually - compared to mass retail growth of around 5% - which will make the sector worth a staggering US$2.4 trillion by 2012.
Helping this growth will be a 7% rise in the number of global millionaires, greater disposable incomes, and a still-growing “baby-boomer” population. Even those not in the ultra-rich circles will try to have one or two signature high-end pieces in their wardrobes. All-in-all the report makes for unmissable reading. Click on the link below to get hold of a copy.
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