The ultimate bet on the luxury market’s future does not involve China, as many might think, but the United States. In fact, a research carried out by Boston Consulting Group (BCG), has predicted that the biggest opportunities in the next decade will be coming straight from the US.

Local consumers together with the increasing number of tourists will soon turn into key-customers for the most exclusive luxury brands, which doesn’t mean that asian markets are witnessing a decline. Most brands have actually recorded massive sale increases in 2013 and to corroborate statistics we have the case of Brunello Cucinelli, who last year saw his profits soar 50% in China and 20% in the States.

Truth is that the luxury market’s world geography is changing: accessible luxury brands have doubled their sales in Europe, while Scilla Huang Sun, from the Julius Bear Brand Fund has reaffirmed the importance of making a distinction between Chinese tourists’ solid demand and the feeble stagnation of home markets: “the growing purchasing power of Chinese consumers and their appetite for western luxury brands” shouldn’t be underestimated, she declared.

On the other hand, Deloitte in a recent report sets the spotlight on new emerging markets such as Colombia, Mexico, Philippines and most sub-Saharan Africa. And it’s not a coincidence that big names such as Ermenegildo Zegna, Hugo Boss and MAC have already started investing in this direction.

 Photo: Christopher Chan

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