OVER IN BRITAIN: The British luxury sector is poised to grow 57 percent by 2015 to 9.4 billion pounds, or $15.2 billion, according to a new study by Walpole and Ledbury Research U.K. The study, issued this week and based on interviews with senior luxury executives and Lebury’s own forecasting models, said foreign tourists are a key driver of sales, accounting for more than 25 percent of luxury goods purchases in the U.K. The report also revealed that “luxury shame” has fallen away. “Not only are customers buying less discreetly, but the industry is now less reliant on selling via private parties and trunk shows compared to last year,” it said. The report said that in 2011 the British luxury market will grow to 6.5 billion pounds, or $10.5 billion.
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