Luxury Footwear Market 2024 Latest Insights, Growth Rate, Future Trends And Forecast | Key Players : LVMH Moët Hennessy Louis Vuitton SE, Luxottica Group S.p.A., Adidas AG, Kering S.A

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The Business Research Company offers in-depth market insights through Luxury Footwear Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The luxury footwear market size has grown strongly in recent years. It will grow from $28.1 billion in 2023 to $30.19 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to globalization of fashion, brand prestige, craftsmanship and quality materials, limited editions and exclusivity, heritage and legacy.

The luxury footwear market size is expected to see strong growth in the next few years. It will grow to $39.3 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to sustainability focus, emerging market growth, inclusivity and diversity, wellness and comfort, crisis resilience. Major trends in the forecast period include digital marketing and social medial, cultural and artistic collaborations, direct-to-consumer (DTC) strategies, storytelling and brand narrative, innovative designs.

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Market Segmentation:
The luxury footwear market covered in this report is segmented -

1) By Product Type: Shoes, Sandals, Other Product Types
2) By Distribution Channel: Online, Offline
3) By End User: Men, Women, Children

Major Driver - Rise In Disposable Income To Drive Growth Of Luxury Footwear Market
The surge in disposable income is expected to propel the growth of luxury footwear market going forward. Disposable income is the amount of money that households have available for spending and saving after income taxes have been deducted. As individuals experience higher levels of disposable income, they are more likely to allocate a portion of their funds to luxury footwear, driven by the desire for prestige, exclusivity, and superior quality associated with premium brands. For instance, in August 2022, according to World Bank, a US-based international financial institution, the per capita net disposal income of lower middle-income countries was in between $1,036 and $4,045 and per capita net disposal income of upper middle-income countries was in between $4,046 and $12,535 in 2021. Moreover, according to the Office For National Statistics, a UK-based government department, in the year 2021, there was a 3.6% growth in the gross disposable household income (GDHI) in the United Kingdom compared to the figures recorded in 2020. Therefore, the surge in disposable income is driving the growth of luxury footwear market.

Competitive Landscape:
Major companies operating in the luxury footwear market report are LVMH Moët Hennessy Louis Vuitton SE, Luxottica Group S.p.A., Adidas AG, Kering S.A., Chanel Limited, Hermès International S.A., Guccio Gucci S.p.A, Puma SE, Tricker's Shoes Ltd., Burberry Group plc, Paraboot SAS, Prada S.p.A., Armani Group S.p.A., J Choo USA Inc., Reebok International Ltd., Stuart Weitzman LLC, Lee Cooper Group Limited, Aldo Brue Inc., A. Testoni & C. S.p.A, Airwair International Ltd., Base London Limited, Dr. Martens plc, Furla S.p.A., Grenson Shoes Ltd, John Lobb Bootmaker Ltd, Longchamp SAS, Lottusse S.A., Moreschi S.p.A., Mulberry Group plc, Scarosso S.r.l.

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Top Trend - Strategic Collaborations Reshaping The Luxury Footwear Market
Major companies operating in the luxury footwear market are adopting strategic partnerships approach to enhance their offerings and provide exclusive collaborations with high-end designers or brands. Strategic partnerships refers to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success. For instance, in December 2023, Aditya Birla Fashion and Retail, an India-based fashion retail company, partnered with Christian Louboutin S.A., a France-based footwear and accessories company, for Christian's iconic red-soled shoes. This strategic collaboration involves the establishment of a new subsidiary under ABFRL, where both partners will hold an equal stake, signaling a shared commitment to shaping and elevating the luxury footwear market in India. Together, ABFRL and Christian Louboutin aim to bring unparalleled elegance and style to the discerning Indian audience, uniting the strengths of a leading Indian fashion conglomerate with an iconic name in global luxury footwear.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Luxury Footwear Market Characteristics
3. Luxury Footwear Market Trends And Strategies
4. Luxury Footwear Market - Macro Economic Scenario
5. Luxury Footwear Market Size And Growth
…..
27. Luxury Footwear Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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