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Market NewsNewsJewellery among fastest growing items in luxury rebound, Bain says

Jewellery among fastest growing items in luxury rebound, Bain says

After a tough end to 2016, luxury purchases are back in fashion, and that should bode well for the holiday season, CNBC.com reported.

Last year, a sluggish economy and uncertainty around the U.S. presidential election weighed on shoppers' wallets for expensive goods, according to Bain & Company's annual global luxury study. But this year, the overall luxury market is expected to grow by 5 percent, with cars, costly experiences and high-end food accounting for a large share of spending, the report found, said the CNBC.com report.

Shoes, jewelry and bags remain big-ticket items and the fastest-growing luxury categories, according to Bain. Those are sure to be on many shoppers' wish lists this holiday season, as brands try to lure customers in with bespoke options and one-of-a-kind deals. Tiffany & Co. has already been in the news for its luxury line of "everyday items," which includes a $1,000 tin can and a $425 protractor, the CNBC.com report said.

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