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Luxury goods business is flourishing despite world economic issues  0 Comments

Published Monday, November 28, 2011 by Harry SK Tan |

 

The Swiss watch making industry is in fact enjoying a great year with record sales - despite the economic downturn in many countries. The main reason for this is the sustained or even growth in demand for luxury goods and luxury watches in the China market. But is the luxury goods industry recession proof? Clearly it depends very much on the disposable income and the willingness to continue such purchases in the target markets despite the much predicted global downturn. 

Nevertheless, it is not often recorded in economic history that there is a growth in demand for luxury goods in times of economic downturn. Is it irrational behaviour or are the Chinese so flushed with cash that there is no particular concern about the global downturn coming ahead? Clearly the watch brands will be looking to pushing their watches in China more than any other parts of the world in the foreseeable future.


Crisis misses luxury groups by euronews-en

 

 




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