LUXURY CLOTHING MARKET PROVES RECESSION PROOF
September 1st, 2012
BY LEE ADENDOORF, IN LUCCA; MINI PANT ZACHARIAH, IN MUMBAI; WANG FANGQING, IN SHANGHAI; AND LEAH GERMAIN
DESPITE the financial storm clouds that have disrupted Europe's economy over the past few years, the continent's luxury apparel sector has proved remarkably resilient, with global demand for their products rising. Initial predictions that general economic hardship could cause consumers to shun luxury brands have not been realised. Indeed, luxury European brands have enjoyed bumper sales figures over the last few years, albeit buoyed by sales outside Europe, ...
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