By  on June 5, 2012

PARIS — The European luxury sector will continue to grow at a rate of between 7 and 9 percent a year, provided that changes in European Union laws do not undermine its potential, representatives of European luxury goods makers said Tuesday.

Medium-term forecasts suggest that, by 2020, the sector will contribute 790 billion to 930 billion euros, or $983 billion to $1.1 trillion, to the European economy, according to a study commissioned by the European Cultural and Creative Industries Alliance, or ECCIA, which groups Europe’s main luxury groups.

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