Luxury brands look to the US for growth

05/27/2013 | Financial Post (Canada)

Luxury brands including Prada, Hermes and Burberry are investing in new store space in the US, where high-end retail has recovered from the recession and luxury sales growth is on track to outpace the growth rate in China. "I think the U.S. holds a lot more potential than people believe while the focus has very much been on the BRIC (Brazil, Russia, India, China) countries," said Robert Chavez, head of US operations at Hermes.

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