The global luxury goods industry, which includes drinks, fashion, cosmetics, fragrances, watches, jewelry, luggage and handbags has been on an upward climb for many years. The value of the global personal luxury goods market was 212 billion euros in 2013 and is estimated to be worth about 249 billion euros in 2016. Although the technical term luxury good is independent of the goods' quality, they are generally considered to be goods at the highest end of the market in terms of quality and price. The United States has been the largest regional market for luxury goods and is estimated to continue to be the leading personal luxury goods market in 2015, with a value of 78.6 billion euros.
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