The global luxury market will grow by a relatively modest 4-5 percent in turnover this year compared to the 10 percent expansion seen in 2012, a study released on Thursday by research consultancies Bain & Company and Fondazione Altagamma showed. "We are seeing a more even distribution of global growth," said Claudia D'Arpizio, a Bain partner in Milan and lead author of the study. "In turn, brands are refocusing from short term, reactive hot spot thinking to long-term sustained growth strategies," she said.

The global luxury market will grow by a relatively modest 4-5 percent in turnover this year compared to the 10 percent expansion seen in 2012, a study released on Thursday by research consultancies Bain & Company and Fondazione Altagamma showed. "We are seeing a more even distribution of global growth," said Claudia D'Arpizio, a Bain partner in Milan and lead author of the study. "In turn, brands are refocusing from short term, reactive hot spot thinking to long-term sustained growth strategies," she said. Turnover reached 212 billion euros ($273 billion) in 2012.

The first teaser trailer for this drama by James Franco, based on William Faulkner's novel, has been released in the runup to its premiere at Cannes. The video offers a peek at the movie that will be premiered in the Un Certain Regard section of the 66th Cannes Film Festival on Monday, May 20. "As I Lay Dying" is about a family that sets off with a coffin containing the recently deceased mother to honor her wish to be buried in another town -- a poignant portrait of the devastated rural South during the Great Depression.

The first teaser trailer for this drama by James Franco, based on William Faulkner's novel, has been released in the runup to its premiere at Cannes. The video offers a peek at the movie that will be premiered in the Un Certain Regard section of the 66th Cannes Film Festival on Monday, May 20. "As I Lay Dying" is about a family that sets off with a coffin containing the recently deceased mother to honor her wish to be buried in another town -- a poignant portrait of the devastated rural South during the Great Depression.