Retail in Asia

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Bain raises outlook for luxury goods

The outlook for luxury goods is going from bleak to almost chic, according to a new report by consultancy Bain & Co.

Bain’s widely watched forecast, released last Friday, predicts sales of luxury goods will rise 4 percent globally in 2010, to EUR158 billion (USD212.71 billion), following an unprecedented 8 percent drop last year. In October 2009, when Bain last predicted 2010 sales, the firm was forecasting growth of just 1 percent.

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(Source: The Wall Street Journal Online)