France remains top luxury products market: report

PARIS - France recorded in 2016 the highest sales share of luxury products, a performance that helped it maintain its position as the world's top luxury player, a report released on Wednesday by the audit firm Deloitte France showed.

With a market share of 24.3 percent of top 100 luxury goods sales, France was the leading luxury goods country, followed by the United States and Italy, occupying respectively 20.1 percent and 15.6 percent, said the report.

Meanwhile, in terms of the number of companies in top 100 luxury enterprises, Italy has got the first place with 24.

According to the report, China, France, Germany, Italy, Spain, Switzerland, the UK and the US made up 83 percent of the Top 100 luxury goods companies and 90 percent of Top 100 luxury goods sales.

"Following an uncertain economic context and geopolitical crises in 2016, the luxury market has risen, reaching an annual turnover level of one trillion dollars at the end of 2017," said Benedicte Sabadie, Delloite's partner in charge of luxury business.

Despite geopolitical factors, "growth in luxury goods will continue, unlike many other sectors," she added.