Demand for jewellery and watches driving luxury sector

First published: 18-10-2011

The sales of watches and jewellery in the year to date have helped to boost the luxury products sector.

A study carried out by Altagamma, a trade organisation for luxury goods in Italy, found that strong demand in Latin America and China had helped to push forward the growth in sales.

In addition, the US and European markets have also shown some signs of recovery, which have encouraged the group to predict a 13 per cent increase by the end of the year.

While the US is expected to continue to be the biggest market for sales of luxury products, China is to show the biggest rate of growth, increasing by a predicted 35 per cent on last year's figures.

The sales of luxury products in Switzerland were also recently shown to have increased recently, with Stonehage's Affluent Luxury Living Index reporting a 1.2 per cent rise in the purchases of designer and expensive items over the last year.  

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