Columns
February 5, 2015
Duncan Clark is head of global research at Netbiscuits
By a Luxury Daily columnist
{"ct":"ZH80RcUAqappcQREigrIoIVtfWRYs8D8VjkChARCxn4nan6wmhes5R4q2+mifzQP9hmX3bcCKUuvOusy1NslVGW+wZ8RWRxJZzEJeXg+bC1J9BZVGFYtqdlT4H9a8sgwwh6PWOmqYxne3Oezsn2gkvNPwrdPLsQW3OWD91iWBeFw2z9ialZSO5WZ8Fti+UjiaB6RLZJzlLZKKpx+smjk2nXn8wlfH4yCFpzVTv75En\/La1osTrQYmSzX7eRI+XehAdepqJkUbCNTeG+4XSfomjXbcF9txdhIbMPQrSR2nWztnQ60SsPN64l8TmwRgtLzK7l2SPdHWI42N+Ftpn0l5QJ7WLYQEcJ9BOry6SsIeAjp98z1oN+6aHkw3J5JOD6RXdlode1o4UguA5D2w8CMwXGxw8SrjNAybThUcGCzIz29xMKfewC9Ol72U8XwaWZ7WzLtF94wN6uNn6laxntjXOJNkvbhBTx\/rPkAE9p1p+orrq8mV6ver0Rg6Hj\/FrsjtCHp7nnYu7iSrdpvmauEjojfGlRG6FsuxSYDQHy0kz0CQi2BT3mCH76Y\/NDajkUzvnZksSxiPFlxdOS+baoFXtxlktSb5qcrqlVawvCfPuwLMuhdjIeeRVXwMrQozmdrmQ8s+yuek6Z3PGzy4BAriCz8MF5n+Yum8KrtZOfgB1cYPMoicf37JltdfKe83FXyYU\/Ms73MXuboRW7zrWCiKH1UpXcnlcuHTdMoQT+MhvOLRG1Linxjdzs1yDBwovEuDwqLVyrNns1om4ml1aYfJwFzUS3E89WU\/w0UBkZs19C74aZA95ockxvg0Z1JV74eMj3KMP2pGCbuFQjwvtH+6Ig0fx4fROfnfe39twN5z0kw659xegjnKC04Y9dWTBpPf8Xu84mtQQd\/lqdMhNurN37B\/e002SNIAyF3kVp7HrvIA0gC9cHIB4K5A2tLSiL3HW2BLEWmLjs2JdWVGOvnflG5zsyDDHv1XjtiAF9QtgpTJua70Hupg+8cKZxhZyqtBSaBCpc5OxaWFrCS+qS49jhuqioB9sGe1PR2HQ1pN00L7vS29iPLe2rR6Z8pFuQjhaCwvBEXkvhZucQq6jL9xTGvrqp+GrkwNOK+KvYD\/4djgNntMZHtFIgj91gDh\/ORGl0jNCgSZn+lDokKzFQgynTwxJlabys\/NXmn7Ug1KNSO\/V2j6BtFPWyC9lXdXovYGnhccUuCBvVwkpr4MvzgRmwC\/GuJpw1aNZrEij\/iuYUGsNfca6YW7ldrJpD\/7HYMyF\/K3mspoteZMcsjkF3ShoduhEoJdJtvmYTvgJKHZdJmV4DM4l8sf7vuMqGLcF\/i0gQRpz7xtU\/0LwW5ReUqqxHoQ6DxGCaa20vnw3IfyakS7seXnJ1DtHQOrmNawUxoBxlWwJJ8wN6yENV7ZSrwPxImCI+NtwwwhfnEsurZyLMQZoN0u\/fBnOKi6NoRJ0DkeDrfOTwAG7zy8lP73ZpFOfiG\/+fPXoW6y72+wJ7wD8bd6j6nXrP1WxZQ1x\/EF65qjhWCYls3p5cwryQtpKBS9IJJ14rMcjAgoEgO9D967W3WWDg6Mz9n1CDweynlE2V5+Rtfa4s1J+XYlR+BUiTkmZu7WICQjzXfFcDvFHueL01YevwXjJGDwV+oaqU97IQSwJIZfjpboE9dA0rvnr16AcyqUkbTgDIt6HtcwYjUQbYqpU3obxpHf7Jw9hss2\/wAbgkt\/KHCBuOpXp3r49V5IWzifInBokW\/1BpF8ad4mhnt\/GhFLL3xAmH8n7nMAzYxwcyHVahNe7RsWJHz4IxPtH+ITq1jJbeR+VuBc5nSSTrgjOMIVV1CCT1p9pRxYWLYVZHTd0B7a+KNDM6PNwGldy5dzy5UnTeU5MXemYXz6wbClPpvFN8ptG+EN9TuM3SKaATGvortDUmwti2OwqkWiqH6atNZDxr0PSfrXY6gjg5daO4iZQL2hhwpZsZHQWX2+HxVST8Wq+CGLs7uVi5T\/o6fnW+Zl26YViiVs4AzJt8KNtb9qu5sbbwe1aDxHUUyEcL8L5nORBkru+5s5mcP1\/gRMwPRjKc7OEBvwPh3pD95WjuADE8K6hE\/9cDf26mPQ1cjOLUpFucpoxf6KcsWj9eeBQLOb\/nOXUsoKofRVAu+\/I9xE\/xixVTb0NIXnTHbzdllJxkx\/\/XQywOjAUk+0whi9+jEcjw42lV5H+t6jLBbzrI\/MAGdGADxKrUmrysmvzGGqUpibdtXLdkxBoJFTKzQfOn\/LhFCc\/lwuMRGkWaUw3UEBQbXxSTfBhjMmsd6zpmnN6kgBy6oL6XFJROh1ZRP9KBh34MiryKkcC+vyU\/AuHP5U1S81TCMwrGtkBfetzi2x7vmrXYKKhFGq\/QO0Kyg81Wmz\/BHmye5YgLNBxfh8sv9ED7hOfQ7WTBGKnabVLlToomGTtsB1aei4SY3ybRU4SO+7VEfFSC+whMoZUTJzr1xxxDgAwudV31MSlb4OiQ9Kal8j+PHp+aXT+EyLsByj9y3NXFG4k98MTH1zx6bdvZiBb2TJ1H11q54SWRGX\/7sZPOZkXvKveWf8FErkVOJDbjUvF6m82ov5+yadMOOBWpF\/4keZcJH2mzu4gqMJLHjLn6dQ9l2mxASH7Y1Ez\/urs1kbtCZimhES7zCHzY2+c97JN7DG8\/uR7YYtXne59YH3NaVg4kByfDwDGaPILTNCzKvlDct31+vf8Y5LwDDPobhFSQhe4mU51ZoAlN9unALwwwF8D1FDmNxK+26lUF6E9ywjmMvTiLBame4u8yJFGs6TWaEU00Gei6mKL0mQvWjTCxHRcKnHbTpfw7hUFlzQS9TkbBkeA6LdRCyifoHM5rDwW1hWAhJ5aVTam8vT2IXmpGQE9+ps2ktfUmYr9\/F2kcjVp53qGBu5rEmI58CcFZWBrGBlG588s\/zuVO41aaNjf3LdK1nzUZSTFwDGAoznXak\/zWi2eM9qKT6WfnvIvRjyjQDAyqyY1Ga9GETL6bLTwn1lDsXJjJqZj4egNiPrz0Z\/dkV8xDT4b0cxpDy5XSTz1iJEhcJPrIRN2g0w3W\/jwkhTwm+LFxk6pbMIWUk1+nPUgInqBAuKSOjOh5ljfOcEGgydeKJhy19HWNQT8619D7ecv62hCkfDXY7eInEscfbSzAp7AFv8CeN\/2O3PsLwyUJsPyhCJYZ9rBzRBTJezrzY7suMET5bvj6\/eWmDPDfxD4CJYWA+5nzWxoNjPlEtDFAQepjbyJfngzzOsgqOCi7vze96kxeylHV+022mxHD6sho6rYbOMWf7YjTmM0PsYsDvq5cNsuF1saj3vzvI7MT7zr8cJYkNTrNowgzg7Iyaczlvf+1W3J9ikT0ShAIrfd6DlK3nbx0uUTFP5S0M6i90XJmOfbfw4eLeBKJxVX4qcO4CtfqAjvXiYfnzel620toGR+BWL8LEd2+sl0ffuCUAuRGtZzktKB1NoGh9Xu7e4ojEfAkenzq8cXXQstKlRDEBp8QuGCQ0Uwcc3IwkEjjP7mREA+2n4K6e7ioSrTGaAiKjbiPPHaheQDJ9BDVuA9jNRFgteFZweD4vfBikWQdbuGag8TpdNL+eKthbZVmVn3VIqjWHyr8AASfClWWaTFrY3T1F8dW40Doi\/rC4i3O2K\/Mr8+ItACDm5kGKcNbaCyuWzNi2wGAWuxa\/mxAyqkrWFQGUhfoW3jk0Yl1Es+La+oFGOulcTyluvQgeuGXDqfBAQ3iWvCzyjJhcyO8zyWr1KowlaROP5APFkerAa\/5gMLfAdq18ifiAqCddvnrRco0YdEhNB6oFG2zC9jLNoRMjvevX0ekvxXZkyvWjcuCzzla3ukA7YnNrByTfEJ1eNdQ35\/K3vDHroviPtc9GmHOlaWr27PNXOKa9X0xThZzZ1w94NQbR6gtgxRZbOX7mPyiTQhPn1XfdvdkvnsMaMqEVLzjnWFtujVwqUUQXEGM7+F36fwCt2hx+8+Wn45IWkA7KbgvBoe\/5KriETGtMHGjuNp0Rf8UiXMeuypm0eK6f5jzSQ9DsNdvFrs6IHUI5WanBcyO4blvmXdLWvd7gIPNTYEST3e\/xAW8CA5TLd+I2ZidMwrfSdW3OhmLvwYheiw\/\/AlrOMm6blN0ldhbkhfNA0emMzaFGjJH5a0rH6455vsJIOz2XZeTM8mZ+wz69dUsvw7+uk1IW21py9w8FPH6fwPkvSUBClIQfxkKDNXxOUOI0iSdhEwwGDtPGYSE+M1elRpOsqPSAjiIr01VWf\/h6iVmPpuCtuMLMei2S3JPjUZ39ZwizsrwruOhRaBu4MGankW3c8RWtIeILKFt1R0nRq4BHcPfXpCMRrv2hSCJp6wRxO+BPZY7huAb9GXm0IcVPN+uyiZqU2bc8b37WmfLo3jMnXmwmT2vgBS4eFCfDg9G0o0EEmbS9zXnZdAOrzS5DJ7P7BIGh3w9GxgMCUTzDTrlFa9zHfNqRWC4NX9VSsaKREjxWUiUnPlJiOJ5210Zq0CUX3kij3O78asUNWWFZsqSqLuQ7vvLyiB0Xbxo5NQjmw4Pid6gGOYpcvRSB1r1EbVU\/umAgDwAiMPiXx8XvSj+AI1wi0GeQ+RgtVgWTS2P1D9PQq1Iv49kcXsX00oMyY3\/66r3KqL4J+GdBlHnClAUPBVM8YfqAAWCzExemkLT6vfK1yyYoDLHRYfRpU+W2vqNNGrD156N7KPSCMgX9MOxsvRNWxNY3722fHUzMeXOLLtshQ7RYH8srnqvRQxnzrbuwpYJZ0WSCnt3TG9Dtw2rJR\/pfdC+4YwMpuhoXZwMqR9G+u5uAqd\/6nifcNf2nomc110RHAaFxCqYjmhovlnIX6oPuPk7xPjQjL+fcCt8IcCe5hD+l6GY7HEeBL3V32Jj5ul0qRdotwioP9EujwO\/GmOK3XVKl\/DGTDkBSXMx28V5nMdJ15Lyd7a4NNUV1DnlLvnVgIgPkYXQEyfqM370Q86dhaQQsZsoHGzDmDyPF\/ddxkGWQV4FZEFwQGS1mUPksnuDnjTZiQCO50ssKJGwkMP+ncMqHeprMcEaxlh4FJ9p7IfDgiWaMD3lMBD2MT9g+npf3pvXKsEsM0M2cFcvbLs8yLo8RgZ35ZMqABStfNQ2skmycR\/r1lx3S7\/+SwmHrGO5V6XCOf+CzBWLWKfcyvjP\/av8BuaaoJfaToFy4d9jvynfZwPsZ\/45AZV8tSVdPmZa1TCt6qqK2Y3nFoqWq7FtpfphCyZ\/NIji1UezBEmEcKMwiR5GheQ\/J4FLAGeWqWQ7waioempY0HxPVgNtksw\/uL+Ldi6ZDwRlO5X41GA4sbrapWfuNhegRz2m9d7rvxSkBd7OtWbGoiRIgCPdRAZyPFKe4rjkY8sMLZuB4KyxbUUWhMO8dfBvmU5YmdLl7rVQms3yVACzG+IqzsE2HMalw714QkvZjO3GQ53S1jLjVKig4qVV3fii3H1kOKr1uFfjkPJD5SQ+VD2lsuTudDHF\/CgubRL+VRWUa5YLyr4XYTZAyNT4MBrUyIzVAEyHR9RWJ0NKwB1SOiDwRZD8Q4t+jyROUQpNeyzeWGfkSqt6MoD0z5g1\/8QyJjZWq++F3a\/K31cJ5yw8vLnJs3gPCDrA\/zIRwiwCGu60cTZpJp6BEhrxtXL31uUwKgAH6vTBhP49iaJNURfubSx\/FfAbjbkPfU313gtb18JfS1HdXcUDigWGdQAMUMN6\/0EWaiP6BxrBw9efBIkVqmUK+mbNHeZjCoYeSDGDqmOQ1KdWu9tqR+LkF8dQ\/Iuo0L8ABe6cMlKXkXIbgujxChKnxOuoZTs4d2yE+tde62ksY2Ozrb9ghPxG+Exa1Zpv2BU4sAxsH73o01QNQVcw0G8jo8\/gSMeknS1l\/mIQFoHteoCiN9xaIjg5+H9BOCeZZRQaA1uXJ17FUnYPCleGE0++TtHTJdVcvM6XbsI9Pe2gCjwB6Qviyf74OXbpIsSIkfOMm4Tqpj7gOtj79kE3bzuB3oQ+\/ZNf0TL0+NF9eCT5TZqHcaE6ISM++c68XJkHUboE9N0N1IC6LIbEPi61iHsefnzAK3ToCSARzdivXVmwsqQ2UiVbuiDQbNumE9vZJsehMSFc9m+bAvmZBsN5khllFYCHKFo5VwvorHUdzdUnPhv1Cbw0V4yw9mQisYgvWGBgcJdXNPYmjTdGLza6H1Jn1MY\/A7b8K+ZTzVZ+DN\/YXQciM6sbZXtQSqZU3phpBxG0z85AH\/HJwGBE6WmuUu5vciOmFmljmRiaEYazHUbxorE\/8DHVVdQ86w29uhMj4S+KZKyiMRluPFa4sIFK3m3\/edXRyORyM4PsG8nb952KmarM9vt56aTJPsZnDmEzVpAeqoHrNR8gIH1XfJu8CmUWlQsoVNAshtMJHa0xbpMLI1vny\/e+r+8K3DRHFE0X+eTVWLz40r+vJaX2WGKMeWE2vyd19g0v7NTVGPq+JoX04ztVV4+5uFeFR5yDn0RUzDnZk4ODgw7ZPftd1w\/PEF9YEYylaQcPcvktkEniVztuIAoKVcqwlBga9KHLBs2X4N\/VLkm4Pp\/aC7CehhRELgwO93emBzOpAZe6WciKhPDoUWyqrPApMeKTzQHx73dYUvoJvtT7sh7KCyxctYcfwAsvuHJ\/qWmwrlKNah4fcB+Z5MYYlEbkWkFqENg==","iv":"f7f9c1d1e47232d39467422a34e1999d","s":"c33c80fb1dd82730"}
Share your thoughts. Click here