Western Europe watch and jewellery sales top $37bn

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Sales of luxury watches and jewellery in Western Europe totalled $37.3 billion in 2011, according to a study released by Research and Markets, with watches accounting for $10.1 billion of the total.

Growth has all but stalled since 2007, with the research concluding that there was a mere 0.5% compound annual growth rate (CAGR) from 2007 to 2011.

Platinum, gold and silver jewellery was included in the study, but costume jewellery was not included in the annual sales total of $27.2 billion for jewellery, alone.

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Sales growth is expected to accelerate through to 2016, according to the reports analysts, with CAGR over the five year period to 2016 averaging 1.8%, which would take the total value to $40.8 billion by the end of 2016.

 

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