2011, a positive year for luxury

International luxury brands may continue to rely on China as the market with the highest growth even in 2011, according to consultancy firm Bain and HSBC. While the European and the U.S. luxury markets are slowly recovering, Japan remains in recession in 2011. Bain forecasts growth of 3 to 5%, lower than 2010, while expects 10 to 11% for 2011 and 9% in 2012. HSBC’s research also highlights that the major Western European luxury markets will depend even more on foreign travellers, especially from Asia, for almost 50% of their sales.