global luxury goods market to cool in 2013 - Bain

  The growth in sales of luxury goods, in order to facilitate affected by a moderate expenditure in Europe and slowing growth in China bit this year, Bain & Co said in a study on Thursday.

Bain, whose forecasts are closely watched by the industry sees growth of luxury goods worldwide cooling to 4 to 5 percent in 2013 to 5 per cent last year at constant exchange rates.

The board that the study of Italian luxury trade body performed Altagamma, predicts global sales of luxury goods is expected to grow at a compound annual growth rate of 5-6 per cent between 2013 and 2015 growing exchange rates constant.

The total size of the market, which was 212 billion (£ 178 billion) in 2012, expected to $ 250 billion by mid-decade to achieve.

The study covers the worldwide spending on luxury ready-to-wear, perfumes, cosmetics, watches, jewelry and accessories such as belts, ties and shoes.

In the first quarter of 2013, worldwide sales were up 3 percent at constant exchange rates and Luxury 1 to 2 percent at current exchange rates, from 10 percent in 2012 to the current rate.

Bain forecasts luxury real estate for sale in Europe remain sluggish this year, rising to a maximum of 2 percent at constant exchange rates, compared to 3 percent in 2012

Chinese tourists have less in Europe because of the reduction in price differentials with products at home and on the road to new destinations such as Australia, he said, while the local demand in Europe, especially in the south remained depressed.

Bain forecasted growth in the Asia-Pacific region, excluding China, to reach 7-9 percent this year, compared to 10 percent last year at constant exchange rates. In the People's Republic of China, she is expecting a growth of 6-8 percent at constant exchange rates.

Look demand in China, the engine of the fastest growing in the industry drastically in 2012, Bain said the government has intensified its campaign against corruption and conspicuous consumption.

Richemont Luxury Group, the second largest in the world, Cartier and Montblanc, said on Thursday that growth in the Asia-Pacific region slowed to 5 percent in the year to March by 46 percent over the last 12 months.

Bain predicts consumer confidence in the United States combined with new openings help stimulate growth there while demand remains strong in Brazil. He also saw a pickup in Japan, supported by their efforts to stimulate its economy.