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Wealthy jet-setters are still buying Burberry

The luxury goods brand Burberry has revealed a storming 22 per cent rise in third-quarter sales, despite the economic storm clouds.

Its update is a further sign that the luxury goods market shows little sign of falling out of favour among the world's wealthy. Burberry's revenues hit £574m for the three months to the end of December – ahead of analysts' forecasts of £569m.

The 156-year-old purveyor of trench coats, leather goods and fashion has been boosted by the continuing rise of the TLC – "travelling luxury

consumer"– who roams the world boosting sales at stores from Las Vegas to Paris.

Burberry will open its largest store yet in London ahead of the Olympicsthis year.