Asia "more than half of the market for luxury goods"

The continent now accounts for around two-thirds of the market, a slowdown in sales of luxury goods in recent years, the "alert" has seen the houses of the high-end brand.  But a new report from the EIU, unworthy says that "there is a good chance of long-term recovery" in Asia and predicted that represent 50pc-60pc of sales of luxury in 10 years. "The fear of a slowdown recently been reinforced by China's crackdown on the screens of wealth and the exchange rate movement of Japan," said Jon Copestake, head of retail and consumer analyst at EIU. "But even in this climate, some more luxury companies deliver strong sales. Stagnated with Europe and North America moderate the focus clearly on the potential in Asia." While China is expected to be the main driver, with nearly 13m households with an average income of $ 150,000 (€ 96,720) by 2030, India will also be essential, with more than 30 million households with an annual income of more than $ 50,000. The report predicts that India will be a "key battleground for luxury brands such as opening the retail market to foreign investment." Wealthy elite has emerged in Indonesia on the back of rising global commodity prices. Meanwhile, Malaysia and Thailand shopping destinations, the EIU said, with the former benefiting from lower tariffs on luxury goods. However, not all countries will see growth. In particular, Japan is suffering from a weak and fragile consumer confidence currency, the report will hinder their potential. Buyer will also warned, start the growth of the tooth as Asian consumers to buy more luxury products abroad. "[But] if the companies are carefully positioned to benefit from the rapid growth of small towns on the Chinese domestic market, the growing number of wealthy entrepreneurs in India and Indonesia is growing commodity wealth," said the EIU report.