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A billboard advertising Hennessy cognac is pictured near the lagoon in Ikoyi district in Lagos June 6, 2013.
A billboard advertising Hennessy cognac is pictured near the lagoon in Ikoyi district in Lagos June 6, 2013.
(Akintunde Akinleye/Reuters)

FINANCIAL TIMES

Shine comes off luxury goods forecast

Lex is a premium daily commentary service from the Financial Times. It helps readers make better investment decisions by highlighting key emerging risks and opportunities.

Is there the merest hint of urgency behind that veneer of calm? It would be no surprise if staff at luxury goods stores are becoming just a little more pushy than usual. The sector, which has for so long been used to seemingly effortless growth, is having a lousy year.