Growth confirmed in 2012 for luxury consumption. Luxury goods market to grow 3% in Europe in 2012: study

All sectors of the global luxury market are forecasted to grow in 2012, reinforcing the organic growth of 2011. China is the fastest growing market, accessories the best performing categories. Leather goods, Shoes and Accessories and Hard Luxury (Jewelry Watches) are the sectors with the highest expected growth ratio, according to Altagamma Foundation, which monitors luxury markets worldwide.

The personal luxury goods market is expected to surpass 200 Billions euros in 2012.

“Apart from Spain, Italy and Japan, high-end goods markets are growing significantly across the world,” said Armando
Branchini, secretary general at Altagamma Foundation.

On average, the luxury market is expected to grow seven percent in the Americas, 16,50% in Asia, between two and four percent
in Europe, 8,75% in Middle East and between zero and two percent in Japan, the report said.