An article suggests that soaring advertising budgets for luxury brands reflects a British desire for iconic luxury.

An article in the Times suggests that soaring advertising budgets for luxury brands reflects a British desire for iconic luxury.

During a difficult time for print advertising, spending to promote luxury goods is surprisingly strong. Several advertising agencies, including M&C Saatchi in London, have recently set up luxury goods divisions.

Research from Mintel found that women in Britain are spending £350 million a year on handbags. Sales are up 146 per cent in five years as stores offer own brands and cheap imports alongside designer items costing as much as £1,000.

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