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Luxury industry growth questions


economy

Luxury industry growth questions

Will profits keep ticking up for top-end watch makers?

That is the big question dominating the Geneva watch fair – the first major luxury goods industry event of the new year.

So far Swiss watch makers are surviving the economic crisis, with growth in Asia compensating for a downturn in Europe.

However, they did see Asian sales slow in the second half of last year.

But Chinese consumers do remain interested in those super-costly Swiss time pieces.

Consultancy Digital Luxury Group says online searches for high-end watch brands were up last year by just over seven percent, with half the searches coming from Asia and the BRIC countries.

The question now is will they buy as well as look?

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