Emerging technology at luxury brands
Luxury brands are bouncing back after the global recession, fuelled by demand from emerging markets. The worldwide market stood at €172bn last year and luxury goods sales are expected to reach €185bn this year, with fast growth set to remain. In the UK the improvement has been even more marked; the value of the UK luxury sector at the end of 2010 (£6bn) is expected to increase in value by 57% in the next five years to £9.4bn. An expanding middle class, particularly in Asia and South America, is likely to mean the sector continues to enjoy growth for many years.
To understand how players in the UK's luxury sector are investing in technology to capitalise on this period of growth commercially, Pearlfinders spoke to decision-makers at four of Britain’s top luxury brands.
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