World's New Rich Fuel Luxury Boom

 

At a time when many consumer goods segments are suffering, luxury is rich with promise. The world's biggest luxury-goods purveyors are coming off a blockbuster 2011 with even more confidence for this year as emerging markets power seemingly relentless demand. Global leader LVMH Moët Hennessy Louis Vuitton SA reported 20% sales growth for the last quarter of the year. Gucci owner PPR SA continued in the same vein with a 22% increase in its luxury division, reported Thursday. There are no signs of that trend changing any time soon, luxury executives say. "We're lucky to be operating in a segment