Luxury goods rebound as age of austerity fades

<<…>> Retailers of luxury goods say wealthy consumers are returning, spending on everything from Champagne to Porsches. "Luxury brands are gaining appeal again; [it’s] the end of shame for local consumers in mature markets," according to a report by consultancy Bain & Co. The report predicts a 4% increase in luxury sales this year. Bain also said consolidation in the luxury-goods industry is likely in the wake of the economic downturn.

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