 Usually the luxury market grows around 3-4%. We have seen three consecutive years of 7%. Rashid Mohamed Rashid is chairman of luxury fashion house Valentino. So what about this year? 7%? This year started with an expectation that the luxury markets will grow between 2-4%. My personal feeling it will be flat. So what happened? A tipping point in inflation. Anything that is luxury and exclusive almost doubled in price in the last few years.