THE ART AND SCIENCE OF LUXURY
The Asian footprint in the global luxury market now looms larger more than ever, as the Chinese consumers continue to be the main driving force propelling this trend. According to the Bain & Company Luxury Study, the sales growth forecast for luxury goods in China stands at 20 percent — all the while the two largest markets, Europe and the Americas, are expected to remain flat due to their strong currencies. As for the rest of Asia, the region chalked-up a brisk seven percent growth, led by South Korea, along with Singapore, Thailand, Taiwan, coupled with Hong Kong and Macau slipstreaming on China’s robust performance. Only the luxury sales figures for Japan showed slight softening at three percent growth.