first_imgMILAN (AP) – Chinese shoppers at home and abroad are pushing global sales of luxury items to new heights, helping the sector post its third straight year of strong growth since the global recession.A new study by Bain & Company released Monday forecasts the global luxury goods market for clothing, accessories, jewelry, cosmetics and art will grow 10 percent this year to (EURO)212 billion ($274 billion) from (EURO)192 billion in 2011. That would be the third straight year of double-digit growth following two years of contraction in 2008 and 2009 when many countries around the world slid into a deep recession following a banking crisis. Claudia D’Arpizio, a Bain partner and lead author of the study for Italy’s luxury trade association Fondazione Altagamma, called concerns about market weakness `’overblown.”While the global economic crisis that began in 2008 has shown few signs of abating in pockets, particularly in Europe, the luxury sector overall has been in recovery since 2010, when high-end consumers resumed their easy spending habits.Bain expects spending for the fourth quarter to increase by 7 percent in 2012 over last year, a period boosted by the Christmas gift-giving season.The increase is being shored up by Chinese consumers, who this year became the top luxury buyers responsible for 25 percent of global purchases. By nationality, Europeans contributed 24 percent to global sales, Americans 20 percent and Japanese 14 percent.Tourists are expected to make 40 percent of all luxury purchases this year, with the Chinese leading the way thanks to easier visa policies, Bain said. Chinese tourists are making one-third of purchases in Europe, helping to shield the luxury sector from the ongoing financial crisis. Growth in Europe is projected at 5 percent, half of last year, for total estimated sales of (EURO)75 billion. Comments   Share   Top Stories Arizona families, Arizona farms: working to produce high-quality milk Chinese shoppers aren’t just spending their new-found wealth abroad though.Bain found that the market comprising China, Hong Kong, Macau and Taiwan, is forecast to surpass Japan to become the sector’s second-largest market worth (EURO)27.3 billion, behind the United States with sales of (EURO)65 billion forecast.Bain forecasts annual global growth in the personal luxury goods market of 4 percent to 6 percent through 2015 when it is expected to be worth a quarter of a trillion euros.(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.) Construction begins on Chandler hospital expansion project Sponsored Stories center_img Former Arizona Rep. Don Shooter shows health improvement ErrorOK ErrorOK Arizona families, Arizona farms: providing the local community with responsibly produced dairy Bottoms up! Enjoy a cold one for International Beer Day 5 ways to recognize low testosterone Mary Coyle ice cream to reopen in central Phoenixlast_img

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first_imgRobert Lewandowski believes it’s too early to write off Bayern Munich’s Bundesliga title prospects and issued his teammates a challengeThe Bavarians’ hopes of winning an unprecedented seventh straight Bundesliga crown are in doubt with a nine-point gap between them and leaders Borussia Dortmund in fifth.But Lewandowski is not ready to throw in the towel so soon.The Polish striker reckons Bayern can resurrect their title challenge by winning all their remaining five league games before the winter break.“We have to try and win all our Bundesliga games, and then we’ll see how the table looks,” said Lewandowski on the Bundesliga website.“Even though we’re not in a good position, we can’t allow ourselves to think that it’s all over.“During the winter break, we can talk over what is possible and see how many points we are behind. Anything can happen in the Rückrunde.”As for how things may end in May, Lewandowski said: “We mustn’t think about that, but think first about our games.Jadon SanchoMerson believes Arsenal should sign Sancho Manuel R. Medina – September 14, 2019 Borussia Dortmund winger Jadon Sancho might be the perfect player to play for the Gunners, according to former England international Paul Merson.“If we win the last five matches before the winter break, something good can happen.”The Pole’s brace on Tuesday night’s Champions League Group E game with Benfica helped Bayern secure a 5-1 victory.It also saw Lewandowski become only the seventh player to reach 50 goals in the competition.“It was an important game for our heads and our self-confidence. I hope that we’ll keep doing that, but it was just one game,” he said.“Apart from the first five minutes of the second half, we played really well and had everything under control.“But we know that every challenge, every situation is important and we have to give 100 per cent in everything we do.”Bayern will next take a trip to Werder Breman for a Bundesliga match on Saturday.last_img

first_imgThe American Soybean Association (ASA) is proud to announce that the AchieveLinks rewards program is now available to all its members. AchieveLinks is the unique rewards program created exclusively for associations.Just by making the same purchases ASA members already make for their business and personal life, they will earn valuable Links reward points that can be redeemed for exciting rewards, including family vacations, great merchandise, and once-in-a-lifetime experiences.To learn more, or see a list of earning opportunities and reward options, visit www.SoyGrowers.com, click on the AchieveLinks link, and enroll now to start earning Links today. When members activate their AchieveLinks account, they will earn 500 FREE Links.To take advantage of this and all the membership benefits offered by ASA, click the “Join Now” button at SoyGrowers.com.ASA represents all U.S. soybean farmers on domestic and international issues of importance to the soybean industry. ASA’s advocacy efforts are made possible through the voluntary membership in ASA by more than 21,000 farmers in 31 states where soybeans are grown.###For more information contact:Cassandra Langley, ASA Communications Coordinator, 314-576-1770, clangley@soy.orgByron Keelin, ASA Member Education & Program Development Manager, 314-576-1770, bkeelin@soy.orglast_img

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