The US and Asia have been behind an unexpectedly strong recovery in luxury spending this year but sales are expected to slow in 2011.
Global luxury sales will grow by 10 per cent this year to €168bn ($235bn), according to forecasts by Bain & Co, a rate of growth much stronger than the 4 per cent the consultancy predicted in April and comparable with 2008 sales.
Bain expects growth to cool next year, partly due to the dollar continuing to weaken against the euro and because of the strength of sales in 2010.
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