MILAN — Accessories, mainly bags and shoes, and men’s wear drove luxury goods spending last year, and industry executives predict more of the same in 2012.
In 2011, the U.S. remained the biggest market for personal luxury goods — which include fashion, beauty and watches and jewelry — or 30 percent of the sector’s total retail sales of 191 billion euros, or $250 billion at current exchange, said Armando Branchini, executive director of Italy’s luxury goods association Fondazione Altagamma, at the opening of international textile trade show Milano Unica on Tuesday.
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