China gift clampdown affects luxury industry growth - leatherbiz: Lea Leatherbiz

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China gift clampdown affects luxury industry growth projections

12/06/2013
The ongoing economic crisis in Europe and the more recent clampdown on luxury gifts in China will mean growth of between 4% and 5% for the luxury goods industry in 2013.

According to the Financial Times, these are the figures projected for the year by the Italian luxury industry association, Altagamma, and by specialist consultancy Bain.

Last year, the corresponding growth figure was 10%.

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