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Tuesday, March 15, 2011

Japan Disaster: A threat in the Fashion Business

GUARDIAN - Due to the crisis Japan is facing right now, some of the world's biggest companies in the fashion world like Louis Vuitton, Hermes and Burberry fears that some of the high-spendning Japanese consumers will stop shopping as the result of the disaster.

Japan speaks for about 11% of global luxury goods sales, putting it on a par with China, and behind the US which is the world's biggest luxury goods market.

"Luxury sales depend on the people's confidence," said Swiss asset manager Sarasin in a note, adding it would be a bigger "negative" for luxury goods companies "if the nuclear accident burdened the general global mood".

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