The age of austerity is over, as the well-heeled splash out on Porsches and Dom Pérignon champagne, according to retailers of luxury goods.
The wealthy are more prepared to open their wallets than at any time in the past two years, suggesting they have put the financial crisis behind them.
But they are still looking for value for money and craftsmanship, says a study published today. Flashy labels and glitz have yet to make a comeback.
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