Worldwide luxury market has emerged stronger from the financial crisis. The global market for luxury goods has emerged from the financial crisis significantly faster than expected. The likes of Burberry, Gucci Group, Hermès, LVMH, Polo Ralph Lauren, Prada and Richemont have recently reported double-digit sales growth or even record annual sales, which has also reflected favourably on their share prices. Companies’ own store networks have played a significant role in all these success stories, with their retail operations typically growing ahead of their other divisions. Most recently business has mainly been driven by Asia. With the exception of Japan, this is where the luxury brands have recorded the highest growth rates. In particular luxury fashion makers have greatly benefited from the booming Chinese market.
