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Outlook for Luxury Goods Rough…Outside of China

Luxury Brands Relying On Demand From BRIC Countries To Get Them Through Economic Crisis

The economic crisis hasn't dimmed the hopes of Dunhill's China Managing Director Jonathan Seliger for the brand's viability in the Chinese market. Photo © Mick Ryan.

The economic crisis hasn't dimmed the hopes of Dunhill's China Managing Director Jonathan Seliger for the brand's viability in the Chinese market. Photo © Mick Ryan.

The growing economic clout of the BRIC countries – Brazil, Russia, China, and India – continues to buoy luxury brands, helping to counteract the drop in demand from more established global markets. As luxury brands report their earnings from the first four months of 2009, we can clearly see that the plummeting demand in North America, Europe, and Japan has been somewhat devastating.

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