Strong sales of luxury goods in the bag this year

PARIS - Sales of luxury goods may rise 8 percent this year, matching 2010's pace, as demand strengthens in the United States and Europe and emerging-market shoppers splurge on luxury goods, according to the consulting company Bain & Co.

Spending on luxury apparel, accessories, watches, jewelry, perfume and other products may climb to 185 billion euros ($274 billion) in 2011 from 172 billion euros last year, excluding currency moves, the consulting company said on Monday in a report. Bain predicted in October growth of 3 percent to 5 percent on the same basis.

Sales of luxury goods jumped to a record last year, exceeding the 170 billion euros spent in 2007 - the previous best year since at least 1995 - as demand rebounded after the recession, Bain estimated. "In 2011, luxury goods will continue to enjoy strong momentum," the report said.