The once white-hot growth enjoyed by the hard luxury industry appears to be over – but the news is not all bad.
Consumer appetite – particularly for fine jewellery – has remained resilient and many industry observers are predicting a bright year.
Growth slowed considerably in 2013, damped by falling Chinese consumer demand – triggered in part by a recent government clampdown on corruption and ostentatious gift-giving that flattened Swiss watch exports.
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