Luxury goods sales soar in Brazil, as recession bites old world and US markets

According to the International Herald Tribune, while European luxury brands are suffering in many of their traditional markets, consumer-spending gloom has not yet affected buyers of high-end fashion, handbags, watches and other accessories in Brazil. For the first half of 2008, brands such as Hermès, Gucci and Tod's have all reported impressive earnings, meeting or exceeding market expectations. Sales have been particularly buoyant in countries like Brazil, Russia, India and China.

The sales figures quoted in this news item are all for the genuine product, as reported by the brand owners -- they give no indication as to the scale on which imitation and counterfeit products are being made and sold in those four countries.