BY CHRISTINA PASSARIELLO from wsj.com

PARIS—In just a year, the luxury-goods industry has gone from bust to boom.

Strong sales of bags, clothing and perfume during the crucial holiday season could boost the luxury-goods industry to near-record sales, according to a Bain & Co. study to be published Monday, as the sector rebounds from a 2009 decline that was the industry's worst since it began consolidating in the 1990s.

In its annual study of the luxury-goods industry, Bain projects 2010 world-wide sales of as much as €170 billion ($237 billion) if sales increase 10% during the holiday period. Even its worst-case scenario—only 2% holiday growth,...