 CHANGING FORTUNES
Luxury Goods Sale
European companies dominate the so-called luxury goods sector that sells everything from Louis Vuitton luggage to Gucci loafers. Much spending at the high end of the market was directly linked to the "wealth effect" of high share prices. Now that so many investors see their holdings down sharply from 1999, especially in the U.S., expect to see a dramatic decline in spending on high-end consumer goods. That will spell more consolidation of luxury brands under ever-fewer roofs.
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The Year Ahead
Politics
Business
Investing
Trends
- Fewer Marriages
- The German Exception
- Italy Awakes
- More Takeovers
- Auto Rout
- Luxury Goods Sale
- Euro Revival
- Oil Pressure
- Japan Opens
- Eastern Revival
- China Boom
Viewpoint: Pass the Buck
Technology
Arts & Media
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