Luxury Institute News

February 14, 2013

What Recession? Americans Regain a Craving for Luxury

By Nadya Masidlover and Christina Passariello
Wall Street Journal
February 13, 2013

PARIS—While all eyes have been focused on luxury-goods growth in China, another market has quietly been bolstering the business of high-end goods purveyors: the U.S.

French silk-scarf maker Hermès International RMS.FR -0.36%SCA said Tuesday that fourth-quarter sales rose 21% in the Americas to €184.6 million ($247.5 million). That comes on top of a slew of strong U.S. performances for its peers, such as LVMH Moët Hennessy Louis Vuitton SA MC.FR -1.20%and Cartier owner Cie. Financière Richemont SA. Gucci parent PPR SA PP.FR -0.44%could confirm the pattern when it reports full-year profits on Friday.

Click the link to read the entire article including a quote from Luxury Institute’s CEO Milton Pedraza:
http://online.wsj.com/article/SB10001424127887324880504578300291357105904.html

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