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Bain & Co. forecasts growth for perfume/cosmetics in 2010.
October 19, 2010
By: TOM BRANNA
Editor
The global crisis in worldwide luxury goods sales came to an end in the fourth quarter of 2009, ending a first-ever full year decline in sales, and is now projected to rise 10% in 2010, reaching approximately $233 billion, according to Bain & Company. Presenting the data at the annual Fondazione Altagamma (the Italian luxury goods industry trade association) conference, the consulting firm said the market rebound is tied to several key sales drivers—double-digit increases, on average, in the second and third quarter; a rapid return of consumers to brands’ direct-owned stores; continued strong growth in China; a rebound of sales in the U.S.; and particularly strong sales of leather, shoes, and accessories.
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