Global luxury market outlook 2013 Bain & Company has researched and published the key drivers for the luxury goods industry for 2013, in association with Fondazione Altagamma. The research states the slowdown of touristic flows undermining European growth while there is robust organic growth in US and also South America.
Caerlee Mills Ltd, the company which runs Scotland’s oldest continually operating knitwear mill has gone into provisional liquidation after a drop in orders has left the company in financial difficulty.
Italian luxury knitwear brand Brunello Cucinelli SpA has more than doubled in value since its initial public offering in Milan last April, giving Cucinelli a net worth of at least US$1 billion, according to the Bloomberg Billionaires Index.
Leatherbiz reports that the UK luxury sector is forecast to almost double in value over the next five years from £6.6 billion in 2012 to £12.2 billion in 2017, according to Walpole, a non-profit industry group, and consultancy Ledbury Research.