The latest survey report released by JP Morgan Chase predicts that the global luxury goods market will shrink in 2009 due to the impact of the financial crisis.
According to French media reports, the targets of JPMorgan Chase Bank’s investigation include French luxury goods manufacturer LVMH Group, Christian Dior perfume and cosmetics company, Hermès, Italian Bulgari jewelry company, British Burberry clothing company, Swiss luxury goods company Product manufacturers such as Richemont Group and Swatch. The survey report pointed out that global luxury goods sales will decrease by 4% in 2009.
The survey report believes that due to the impact of the financial crisis, sales volume in major luxury goods markets such as the United States and Japan will decline significantly, and sales growth in emerging luxury goods markets including China will drop from 15-25% to 3%. Compared with the United States and Japan, Europe’s expectations for 2009 are slightly more optimistic.
