Thursday, July 28, 2011

Generation Y is the number 1 Spender In the Luxury Market


The luxury market has had a good year.  Fashionista.com reports that companies like Hermes and LVMH have reported significant gains in their market-share, including the scandal-heavy Dior where the controversial John Galliano was let go after making anti-semetic comments.  The same would not have been reported back in 2008 and 2009, when luxury travel was declining and fine dining was on the way out.  As the recession passed, these luxury "traditions" are back on their way up, but the same can't be said for the luxury fashion industry. Why? Because that portion of the luxury market was never on the decline in the first place.