The economic crisis of 2008 has reached all sectors. No one has been spared. Even in a recover phase, there is still some sectors which can’t overcome it. Numerous companies went bankrupt such as Lehman Brothers. But there might be one ruthless sector that had defeated the economic crisis: the luxury field. Is it really accurate? Does luxury goods still sell? Let’s find out the truth behind this merciless business?
In Europe, luxury is a bit in trouble for European customers. Since the crisis 76% of French people, 74% of Spanish and 57% of German believe that luxury became inaccessible and that the prices are getting too high compare to the quality. In time of crisis, European spends their money into more useful and accessible items. Concerning the Asian market it is the contrary.
Depending on the market luxury sector can suffer from the crisis.