Luxury industry executives annouce 45% drop in luxury sales in DUBAI

During the recent Luxury Summit organized by REUTERS, executives of major luxury fashion and accessories retailers confirm unanimously a drop of 45% in sales in DUBAI for the first 4 months of this year. A slow recovery process in anticipated by the end of 2009, yet increases of 20 % to 30% will not be seen as in the previous 3 years.