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Bain: China Will be Key to Any Hopes of Luxury Market Revival

The luxury market is putting all its eggs in China’s basket for any hopes of greater growth.

In its latest global personal luxury report, Bain & Company said the high-end market has entered a period of slower but steady growth, and anything beyond that will be “heavily contingent” on what China’s logo-loving consumers do.

Last year the luxury goods market, including leather accessories, fashion, hard luxury, fragrance and cosmetics, reached 253 billion euro ($283 billion) in revenue, just 1 percent growth over 2014 thanks to a slow U.S. holiday season, decreased tourism across Europe, instability in the Middle East and China’s downturn. That slowdown is expected to continue at least throughout the year.

Read more at Sourcing Journal.