MILAN — A strong performance of accessories, a return of men’s wear, a recovery in markets across the world, and a robust holiday 2010 season pushed the luxury goods industry past its 2007 record performance.
According to the spring 2011 update issued by Bain & Co. and Fondazione Altagamma, 2010 showed a peak for luxury goods consumption, with a 12 percent gain to 172 billion euros, or $227 billion at average exchange rates. The study forecasts continued momentum for the industry, which is expected to post global growth of 8 percent in 2011 to 185 billion euros, or $274.3 billion.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)