A weaker euro proves beneficial for the luxury industry
At the present time, the euro may still be overpriced in comparison to the US dollar; however this may prove to be beneficial to businesses. The euro is sliding on a descending path and it appears that is helping the goods exporting and services sectors. Also the lower value for the euro may help bring down the European government debt ratios. Some analysts go so far so to say that this is would be even more efficient than the austerity packages that are prepared by various European governments.
On the same note, it appears that the luxury industry may have a lot to gain from this situation. Companies such as LVMH and Remy Cointreau produce their luxury leather goods and drink brands mostly in France and Italy, where a weaker euro may imply lower costs. After the production, the merchandise is exported mainly to emerging countries, the US and Japan, hence a profit is more than visible.