The decline of luxury - 0 views
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Cai Z on 21 Nov 14The rapid growth of countries like China has led to growth in the size of the markets for many luxuries. With incomes rising in emerging countries, demand for many the luxuries has been growing. However, in the past year, due to the recession in China and Europe, Prada expects its growth in sales to January 2015 will be 'low single-digit' - less than the 7% figure recorded for the last financial year.