Retailers, consumers and prices
Check out what executives at luxury retailers around the world are saying about consumer demand.
Early feedback from the Reuters Global Luxury Summit, which gathered top executives from Asia, Europe and the United States, sounds positive. Some executives even predicted that the sector will rebound this year after suffering during the weak economy.
Paris-based luxury fund SG Gestion, for instance, said watches and spirits are set for a solid comeback, with LVMH, Swatch and Richemont topping the list of companies with the biggest upside.
Meanwhile, sales at British luxury fashion brand Jaeger have grown strongly, helped by a booming online business that is set to double in size over three years. Italian fashion house Valentino is building up its business and Japanese upscale jeweler Mikimoto and Japanese cosmetics firm Shiseido are eyeing growth in China.