Europe Remains to be the Largest Luxury Market

Pambianco News reports that according to a study made by global management consulting firm, Bain & Co., Europe still remains to be the biggest market for luxury goods. 

ShoppingTheir report claims that in 2012, Europe claimed 35 percent of the luxury market, with Asia only covering 20 percent. But this large rate was also supported by Asian tourists who would purchase their luxury goods in Europe to take advantage of the price discrepancies. 

Moreover, majority of luxury goods are still produced in Europe, including but not limiting: Hermès, Gucci, Burberry, Prada, etc.

In this note, considering the economic crisis, luxury American brands are still intent on growing within Europe. 

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