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  "documentTitle": "Global Powers of Luxury Goods 2017 The new luxury consumer",
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      "text": "Sales growth: 24.5%",
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      "text": "Furla's competitor, US-based Kate Spade & Company, was the other bags and accessories company achieving double digit growth in FY2016. Growth in luxury goods sales was up slightly, at 11.4 per cent, driven primarily by sales in North America, Europe and Japan.",
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      "text": "At constant exchange rates, Luxottica's FY2016 sales growth was only slightly down on FY2015, at 3.9 per cent. However, reported sales growth was down nearly 13 percentage points, due to their currency-boosted FY2015 performance.",
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      "text": "Bags and accessories (including eyewear) companies in the Top 100 recorded the highest FY2014-16 CAGR, and the second highest composite FY2016 sales growth among all the luxury goods product sectors, at 3.4 per cent.",
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      "text": "Furla was again the star performer in the sector, with the fastest sales growth in FY2016, at 24.5 per cent. Their sales in the period FY2013-16 have grown by nearly 90 per cent.",
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      "text": "Global Powers of Luxury Goods 2018",
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      "text": "Italy is the global centre for luxury bags and accessories, with five out of the nine companies in this sector. The other four companies are based in France, South Korea, the UK and the US.",
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      "text": "Tumi disappeared from the Top 100 following its US$1.8 billion acquisition by Samsonite in August 2016. There was increased acquisition and joint venture activity in this sector in 2017.",
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      "text": "Sungjoo D&D (the South Korean owner of the MCM brand), Mulberry, Marcolin and De Rigo all reported single-digit growth and Longchamp and Safilo both lost sales.",
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      "text": "They added around 1,000 new stores to their global network, thanks to the acquisition of the remaining 63.2 per cent shares in Italian chain Salmoiraghi & Viganò and collaborations with brands such as Macy's and Galeries Lafayette.",
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      "text": "The composite net profit margin for the eight reporting bags and accessories companies showed a slight increase in FY2016. At 6.9 per cent, it was below the average for the Top 100 (8.8 per cent).",
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