Investors from emerging countries are hunting for cheaper luxury brands in Europe as the economic turmoil pushes valuations down, according to Kuwaiti luxury retailer Sheikh Majed Al-Sabah.
As concerns about the economy spread to the normally resilient luxury industry, analysts expect the prices of luxury assets to go down.
"All Europe is on sale. Europe is a bargain," Al-Sabah, a board member of Kuwaiti premier property developer Tamdeen Group, said at the presentation of his TFK fragrance collection before the Milan fashion week.
via Business feed http://www.scmp.com/business/money/spending/article/1046284/developing-nation-buyers-seek-luxury-brands
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