By  on December 27, 2007

PARIS — An unfavorable currency environment is not only creating strong headwinds for Europe's high-flying luxury sector; it could compel some players to diversify their businesses further and possibly shift production toward Asia, analysts say.

Yet even as the dollar drifts to new lows against the euro and British pound, analysts trumpeted the resilience of high-end consumers, downplayed price resistance so far and pointed to booming emerging markets that are fanning sales and easing pressure on operating profits.

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