Business news with words bain+billion+business. 3 news.

After a bumper year, the luxury-goods industry is heading for uncertain times MORE than any other industry, the luxury-goods business needs people to feel good about spending money. So at a recent conference in Moscow, Bernard Arnault, the head of Moet Hennessy Louis Vuitton (LVMH), the world's biggest luxury-goods group, went to great lengths to dismiss investors' fears about the impact on the industry of America's credit crisis, a possible recession and the weak dollar. Indeed, Mr Arnault said he expects the industry's sales almost to double in the next five years, thanks to strong demand from emerging markets and the creation of new wealth across the globe. After a depressing period at the beginning of the decade when the terrorist attacks in America, the outbreak of SARS and the war in Iraq reduced international travel and people's appetite for frivolous things, the industry has had three excellent years. According to Bain, a consultancy, sales of luxury goods grew by 9% in 2006 to EURO159 billion ($200 billion) and will reach about EURO170 billion this year, which would be double the 1996 figure. Europe remains the biggest market, with about 40% of sales, though the strongest growth is in China, Russia, the Middle East and some Latin American countries. ...

Bain Capital Partners L.L.C. has completed its purchase of the kitchen and bath products business of American Standard Companies Inc., a rival of both Johnson Controls Inc. and Kohler Co., for $1.75 billion. (JCI)

Bain Capital Partners LLC has completed its purchase of American Standard Companies Inc.'s kitchen and bath products, acquiring that portion of the company's business for $1.745 billion, it was announced Wednesday. (ASD)