A rebound is coming…
Global sales of luxury goods will likely fall again in 2010 but return to growth in 2011, an industry expert said on Monday. “The worst thing that can happen is that we have another year of negative growth in 2010 … But I see it picking up definitely by 2011,” said Scilla Huang Sun, who runs a $30 million luxury fund for Julius Baer. Speaking at the Reuters Global Luxury Summit in London, she forecast global sales of luxury goods would fall 5 percent to 10 percent this year but said suggestions the economic crisis meant the death of the luxury market were way off the mark. – from Reuters