Magazines Archives - 2010 June

Luxury goods are back in fashion - Part 1: How robust and resilient is the upturn for top-end retailing?
Story 1 - One Viewpoint

The recent global economic downturn had plunged the luxury goods market into a slump that was arguably much deeper and more grievous than that experienced by the other retail and consumer market sectors. A study by KPMG, one of the world’s leading professional audit, tax and industry advisory services companies, found that the upscale goods sector had nose-dived to a seven-year low during the past year.

The KPMG Fashion and Luxury Global Index 2001-2009 showed this sector declining to the level last seen in the 2002-03 problem years of the SARS (severe acute respiratory syndrome) and the Iraq conflict.

by Steven HL Goh

Steven HL Goh is the executive chairman of RETAIL ASIA. He is also CEO of The Business Company, a consulting firm advising multinational retailers on retail strategies and business development opportunities in the Asia-Pacific.

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