Bain & Co. warns growth in the luxury market will slow to 5% this year with spending in China...

|By:, SA News Editor

Bain & Co. warns growth in the luxury market will slow to 5% this year with spending in China the biggest area of concern. Just last year, the sector was cruising along at a double-digit growth pace. The influence of Chinese consumers on the global luxury market continues to be dramatic with the nation now accounting for half of all luxury purchases in Asia and close to a third in Europe. On watch: RL, COH, KORS, GUCG.PK, WRC, TIF, LVMHF.PK.