The study, which was presented by Italian luxury association Fondazione Altagamma, said that growth in 2011 is expected to be slower than the 12% rise experienced in 2010 to €172 billion. In 2010, the luxury industry rebounded from 2009, the year Altagamma refers to as the ‘annus horribilus.’
Worldwide, the luxury goods market’s average annual growth rate is seen at about 5-6% between 2011 to 2014.
In a separate study, Altagamma said that by sector, leather goods, shoes and accessories are expected lead gains, rising 12.5% in 2011, followed by the jewelry and watches sector, which is expected to rise 11.5%.
On the whole, the luxury sector’s earnings before interest, taxes, depreciation and amortization, or Ebitda, should rise 13% in 2011 compared to a year earlier, Altagamma said.
