Luxury

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Luxury

A good or service not considered essential. Examples of luxuries include massages, gold watches and sail boats. Luxuries are often, but not always, fairly expensive. Luxury industries tend to be fairly prone to hard downturns during a recession. For example, if one is concerned for one's own job security, one is less likely to splurge on a massage. However, some luxury products, such as custom yachts, are considered recession-proof because they only appeal to the ultra-wealthy, who remain wealthy even in hard times.
References in periodicals archive ?
As the $150 billion luxury industry expands and adapts, in kind, LuxuryLifestyle.com is enabling the affluent to quickly and conveniently find exceptional goods and services online worldwide while providing the ideal palette for luxury goods and services providers to engage this desirable demographic in a non-intrusive mutually beneficial manner.
In sum, Levy Peck demonstrates how luxury goods are at the center of crucial cultural shifts of the early modern period.
Mainland China is also rebounding, as local consumers demonstrate a strong preference for purchasing luxury goods at home, which is expected to drive growth of 6-8 percent (at constant exchange rates).
The world's 75 largest luxury goods companies generated luxury goods sales of $171.8 billion through the end of last fiscal year (fiscal years ended through June 2013) despite a slowdown in the global economy, said a report.
Last year, Mulberry saw half year profits more than treble at the height of the luxury goods bubble.
It found that 68 per cent of Bahrain respondents spent more than 10 per cent of their monthly salary on luxury goods - with 36pc spending $500 to $1,000 a month.
Burberry recently spooked investors after warning over profits in September amid concerns that China's demand for its luxury goods was in decline.
High on the list of expensive holiday treats for the super-rich is Helicopter skiing in Alaska, or a vacation at luxury goods group, LVMH's, exclusive hidden leisure spot in the Maldives.
As the European Commission prepares an action in support of the luxury goods industry, its representatives are organising to defend their business model.
Summary: Given the recent and current global economic woes and a year of unusually extreme natural disasters, some would assume that luxury goods makers would be watching their products gather dust on shop shelves, Standard & Poor's Ratings Services said in a report published Nov.
The outlook for the luxury goods market has improved significantly in recent months, boosted by a stronger-than- expected rebound in the United States and Europe and surging demand in China, consultancy Bain & Co said.
CAIRO: The Middle East luxury goods market will maintain positive growth in 2009, according to a semi-annual update of Bain & Company's "Luxury Worldwide Market" report released yesterday.