Why Europe dominated the world of luxury

  The European market is buying more and produces more luxury goods than any other region in the world. A new report finds global management firm Bain & Co that Europe accounted for 35 percent of all sin luxury in 2012, followed by the United States at 31 percent and the Asia-Pacific region, 20 percent. The figures were of Chinese tourists increased for a third of the luxury trade, with lots of choice in Europe because of the heavily taxed in East Asian Products Shop.

More profitable sales, the study also shows that 70 percent of all luxury goods produced in Europe - with brands such as Louis Vuitton, L'Oreal, Hermes, Gucci and Burberry prove valuable in the financial Times. The news sparked American brands like J Crew, Ralph Lauren, Michael Kors and Coach to expand its presence in the European region.

"We find that large companies in all local European markets," said Michael Kors CEO John Idol. "We are probably one of the few companies that say that we are excited about our business in Spain, Italy and Greece, as well as more healthy, as the United Kingdom, France and Germany markets."