Luxury Footwear Market Share, Growth, Trends, Size And Forecast by 2022-2027
Luxury footwear is made up of premium quality materials. On the basis of durability, uniqueness, and comfort, it can be compared to its affordable counterparts. It is expensive, exclusive, and scarcely available in the market as it is not mass-produced. The increasing preference for lavish fashion brands as a status symbol is positively impacting the market.
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We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Luxury Footwear Market Trends:
The growing fashion industry and improving living standards with inflating disposable income are primarily driving the market growth. Moreover, increasing penetration of social media with rapid urbanization is also propelling the product demand. Furthermore, advent of a wide product range by various key industries with alliances and strategic partnerships to enable customized footwear and a broad selection range in material, design, color, and size to expand the consumer base is catalyzing the market growth. Additionally, the rapid shift in distribution channels of luxury footwear from offline towards online platforms is further augmenting the market. Other factors, including continuous adoption of sustainable materials in manufacturing footwear with increasing environmental awareness and assertive promotional activities with numerous product innovations, will proliferate the market growth in the coming years.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global luxury footwear market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product, end user and distribution channel.
Breakup by Product:
Breakup by End User:
Breakup by Distribution Channel:
Breakup by Region:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
Some of these key players include:
A.Testoni (Sitoy Group Holdings Ltd)
Chanel S.A. (CHANEL International B.V.)
Dr. Martens (Airwair Group Limited)
Hermès International S.A.
Lottusse - Mallorca
LVMH Moët Hennessy - Louis Vuitton
Prada S.p.A (LUDO srl)
Salvatore Ferragamo S.P.A.
Silvano Lattanzi srl.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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