By and  on September 9, 2008

PARIS — Rather than face an industry downturn, luxury companies should see their earnings outpace many consumer and retail stocks, lifted by fast growth in emerging markets and improving exchange rates.

“We are sticking to our scenario of a gradual reversion to sustainable long-term organic growth of 7 to 8 percent for the industry” in the second half of 2008 and into 2009, HSBC said in a research report issued Monday.

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