Why sales of luxury goods are slowingWHEN Louis Vuitton, part of LVMH, the worldas biggest luxury-goods firm, opened a giant shop in Tokyoas Omotesando district in 2002, hundreds of people queued outside. The first dayas takings surpassed $1m. Rather than symbolising Japanas apparently insatiable desire for luxury goods, however, this may have marked the start of its decline. Long the worldas most lucrative market for such products, Japanas star is fading. Having been stagnant for half a decade....
The Economist: Business
