The study draws on research from Bain & Co, Citi Investment Research, Goldman Sachs, Credit Suisse and others.
The global luxury goods industry revenue will grow 5% in 2010, according to a study released Friday by trade group Fondazione Altagamma, fueling hopes for a rebound after a dismal 2009.
French luxury-goods giant LVMH Moet Hennessy Louis Vittton Tuesday posted an 11% surge in first quarter revenue, beating expectations and indicating a swift rebound in the sector.
Altagamma said it sees year-on-year revenue from apparel growing 5%. Jewelry and watches are seen growing 7.5% and the category bags and shoes is seen growing 5.7%.
The study draws on research from Bain & Co, Citi Investment Research, Goldman Sachs, Credit Suisse and others.
The study is encouraging, said Fondazione Altagamma Chairman Santo Versace, since the forecasts are better than the ones released last October, when Altagamma was predicting recovery in the second half of 2010.
"Even after this crisis, luxury companies have shown they have an excellent capacity to react," he said.
In terms of markets, Altagamma said it sees Asia growing the most in 2010, up 15%. North America is seen growing 4.7%, and Europe 3%. Japan is seen declining by 3.6%.
