The global market for luxury goods will shrink by 8 percent this year, according to Bain & Co, and grow just 1 percent next year, but the impact of the global recession has not been as severe as expected six months ago and currency appreciation has boosted Asian purchasing power.
Zimbabwe should honour investment agreements to attract fresh capital and retain investors who have continued to operate in the country, Impala Platinum Holdings Ltd (Implats) chief executive David Brown said.
Shares in Swatch Group, the world's largest watchmaker, rise 3.7 percent after the chairman of China-focused luxury watch retailer Xinyu Hengdeli was quoted as saying revenue in the first week of October was likely to have risen by more than 50 percent.
Cosmetics and perfume-dispenser maker AptarGroup Inc posted a 16 percent fall in quarterly profit, hurt by lower income across its operating segments, and forecast fourth-quarter earnings in line with analysts' view.
Luxury goods group Burberry beat second-quarter revenue forecasts, helped by demand for handbags, leather goods and snoods, adding to signs of a consumer recovery and lifting its shares to a 21-month high.
Some large Indian jewellers and traders have started selling imported gold and silver coins, ahead of big festivals, raising competition for banks in a fast expanding investment segment, industry players said.