The US and France – best performing luxury markets according to study
According to the recently released study by Altagamma (Italian Association of Luxury Brands), Ernst & Young and SDA Bocconi (Italy’s leading business school) on the performance of luxury markets in 2010, the American and French brands have excelled with a 12,3% increase in sales. French luxury brands are closely followed by Italian brands with a 10,4% increase in sales for the same period. Europe’s average growth rate for luxury brands performance was 7,4%.
In terms of ROI (return on investment), Europe’s average rose to 15,8%, the US rose by 16,6% while Asia by 10,7%. By contrast, France’s ROI was lower than the European average registering 11% growth.
Overall, 2010 registered a strong recovery from 2009, overall turnover growing by 10,9% in 2010 compared to an ebb of 5,3% in 2009. According to the report, the first results of 2011 show a reduction in investments of 3,2%, while the growth rate of overall turnover grew by 12,4% in the first half of 2011.