Global luxury sales should grow 8% this year to $185 billion, with leathergoods paving the way, according to a study by US-based research group Bain & Company released on 3 May, 2011.

The forecast was raised from an earlier estimate of growth of between 3 and 5% but would still be lower than last year’s result of 12% growth in the luxury market. Bain said growth would average 5 to 6% per year until 2014.

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