Daily Archives: April 28, 2009

Emerging Economies Still “Bitten By the Luxe Bug”: Financial Express

Asia Accounts For Largest Share Of World’s Luxury Market, Even As Global Financial Conditions Remain Grim

The Financial Express writes on the $80 billion global luxury market, which has fallen on hard times in the last year in most markets, yet continues to perform admirably in emerging economies and in East Asia. As the financial crisis wears on, and target markets in developed countries hold back, luxury brands have adapted quickly. Rather than courting reluctant customers, luxury brands have refocused their attention more to the world’s most populous nations, China and India, as consumers with the means to purchase luxury products in these countries continue to do so even as the rest of the world hunkers down for what could be a protracted recession.

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