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Luxury Fashion Market to Reach US$ 360.20 Bn. by 2030: Leading Players Include LVMH, Kering, and Ralph Lauren

05-23-2024 12:15 PM CET | Advertising, Media Consulting, Marketing Research


Luxury Fashion Market

Luxury Fashion Market

The Luxury Fashion Market, valued at US$ 273.72 billion in 2023, is projected to reach US$ 360.20 billion by 2030, exhibiting a CAGR of 4.0% during the forecast period. The growth of this market can be attributed to several factors, including the increasing disposable income of consumers, especially in emerging economies, a growing preference for luxury and premium products, and the influence of social media and digital marketing in promoting luxury fashion brands. Additionally, the rise of online retail channels and the expansion of luxury brands into new markets are also contributing to the market's growth.

Luxury Fashion Market Report Scope and Research Methodology:

The Luxury Fashion Market report provides a comprehensive analysis of the global luxury fashion industry, offering insights into market trends, key drivers, challenges, and opportunities. The scope of the report includes an in-depth study of various segments of the luxury fashion market, including apparel, accessories, footwear, and others. The research methodology involves primary and secondary research, including interviews with industry experts, market analysis, and data validation. The report aims to provide stakeholders with valuable information and strategic recommendations to help them make informed decisions and stay ahead in the competitive luxury fashion market.

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What are Luxury Fashion Market Dynamics:

The Luxury Fashion Market dynamics are influenced by several factors that shape its growth trajectory. One of the key drivers is the rising disposable income and changing consumer preferences, especially among the younger generation, who prioritize luxury and high-end fashion products. Additionally, the growing influence of social media and digital platforms has significantly impacted the market, enabling luxury brands to reach a wider audience and engage with customers in innovative ways. Moreover, the increasing trend of experiential luxury, where consumers seek unique and personalized experiences, has led luxury fashion brands to focus on creating exclusive and immersive shopping experiences. However, the market faces challenges such as economic uncertainties, geopolitical tensions, and the rise of sustainability concerns, which are prompting luxury brands to adopt more sustainable and ethical practices to meet consumer demands.

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Luxury Fashion Market Regional Insights:

The Luxury Fashion Market in the Asia-Pacific region is poised for significant growth, with a projected CAGR of % through the forecast period. This growth is driven by the increasing number of billionaires in the region, who wield greater purchasing power than the general population, fueling demand for luxury fashion products. Europe is also a key market, experiencing growth despite economic stagnation, largely due to tourism-driven purchases. Factors such as government tax-free retail policies and high brand awareness among the population contribute to the growth of luxury fashion consumption in the region.

The objective of the report is to present a comprehensive analysis of the Luxury Fashion Market to the stakeholders in the industry. The report provides insights into the past and current status of the industry, along with the forecasted market size and trends, presented in a clear and understandable manner. It covers all aspects of the industry, including a detailed study of key players, ranging from market leaders to new entrants, to provide a holistic view of the market landscape.

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What is Luxury Fashion Market Segmentation:

by Product Type

Clothing & Apparel
Jackets & Coats
Shirts & T-Shirts
Trousers & Shorts
Underwear & Lingerie

Gems & Jewellery

by Gender

by End-User Store-Based
Non-Store Based

The Luxury Fashion Market is segmented based on product type, gender, and end-user. In terms of product type, it includes Clothing & Apparel, which further includes Jackets & Coats, Skirts, Shirts & T-Shirts, Dresses, Trousers & Shorts, Denim, Underwear & Lingerie, and others. Additionally, the market comprises Footwear, Accessories such as Gems & Jewellery, Belts, Bags, Watches, and more. The segmentation by gender includes offerings for Men, Women, and Unisex categories. Finally, the market is also classified based on end-user into Store-Based and Non-Store Based, reflecting the distribution channels through which these luxury fashion products are made available to consumers.

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Who are Luxury Fashion Market Key Players:

1. Ralph Lauren
2. Capri Holdings Limited
3. PVH Corp.
4. Kering
6. Inditex
7. Giorgio Armani S.P.A.
8. Chanel S.A.
9. Dolce & Gabbana
10. Burberry Ltd.
11. The Estée Lauder Companies Inc.
12. Compagnie Financière Richemont SA
13. L'Oréal Luxe
14. EssilorLuxottica SA
15. Chow Tai Fook Jewelry Group Limited
16. The Swatch Group Ltd.
17. The Shiseido Company, Ltd.
18. LOral International
20. Luxottica Group S.p.A
22. Swatch Group
23. Diesel
24. Prada S.p.A.
25. Others

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