The wealthy are back in the mood for spending and luxury sales are improving quarter by quarter.
High-end US department stores’ monthly sales are rising again and beating market expectations. LVMH’s star brand Louis Vuitton saw double-digit returns in the first quarter of 2010. Their cognac and champagne business did even better growing by 20% and the watch brands including Tag Heuer, Zenith, and Hublot, rose 34%. Swatch group had the best February in its history with their best brands all up; Breguet by 46%, Blancpain 48%, Omega 50%, and Longines 49%. Watch retailers around the globe are ordering again, having reduced inventories significantly last year. While an improvement in ...
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