Press release
Luxury Apparel Market is Dazzling Worldwide and Forecast to 2031
The global luxury apparel market is anticipated to grow at a considerable CAGR of 4.8% during the forecast period (2024-2031).The rise in the demand for luxury apparel is fuelled by the growing travel and tourism industry. Whether in another country or at an airport, tourists account for majority of luxury purchases. As the economy is starting to recover, there is a rise in travel and tourism, which is driving up demand for high-end fashion items. For instance, in February 2024, UK reintroduces tax-free shopping for the aim to recover luxury fashion. The government reinstates a tax-free shopping for tourists visiting the UK to win back tourists and will help in boosting the overall economy and luxury apparel sales. Europe is also the most popular travel destination, drawing lots of tourists from around the world. The main tourist spots in the region are found in nations like France, Germany, and Italy. Luxury fashion products are more affordable in France and Italy due to the concentration of luxury fashion firms there. There is a rising awareness of using eco-friendly materials and production processes, along with a shift towards sustainability and ethical standards.Updation of luxury apparels by major brands is further aiding to the global market growth. For instance, in June 2021, Gucci established a new way of sustainability that powers creativity and underline the fast moving from fashion's traditional, linear model. The product range covers accessories, ready-to-wear and travel pieces are made of recycled, regenerated, organic, bio-based and sustainably sourced materials. The collection's main material is Econyl regenerated nylon, abandoned fishing nets and carpets including plastics that harm marine life and old materials that end up in landfills is regenerated into a new high-quality yarn.
Furtther, in November 2022, Burberry entered into collaboration with Minecraft to bring the Burberry brand story to their communities in a new and unexpected way. It comprises of an in-game adventure from Burberry and Minecraft called Burberry.
To Request a Sample of our Report on Luxury Apparel Market: https://www.omrglobal.com/request-sample/luxury-apparel-market
Market Coverage
The market number available for - 2023-2031
Base year- 2023
Forecast period- 2024-2031
Segment Covered-
By Product Type
By End-user
By Distribution Channel
Regions Covered-
North America
Europe
Asia-Pacific
Rest of the World
Competitive Landscape- includes Dior SE, Ralph Lauren Corp., Giorgio Armani S.p.A., Burberry ltd., Dolce & Gabbana S.r.l., Prada S.p.A., and Kate Spade LLC, among others.
Luxury Apparel Market Report Segment
By Product Type
Clothing (Formal, Casual, Sports, Innerwear)
Footwear
Bags/Handbags
Accessories (Caps, watches, Sunglasses, belts)
By End-user
Men
Women
By Distribution Channel
Offline Retail
Online Retail
A full Report of Luxury Apparel Market is Available @ https://www.omrglobal.com/industry-reports/luxury-apparel-market
Luxury Apparel Market Report Segment by Region
North America
United States
Canada
Europe
UK
Germany
Spain
France
Italy
Rest of Europe
Asia-Pacific
India
China
Japan
South Korea
Rest of APAC
Rest of the World
Latin America
Middle East and Africa
Company Profiles
Phillip Lim
Burberry Group plc
CHANEL
Dolce & Gabbana S.r.l
Guccio Gucci S.p.A.
Hermes International
Kate Spade LLC.
Prada S.p.A.
PVH Corp. (Calvin Klein)
Tapestry Inc. (Coach)
Valentino S.p.A.
Yves Saint Laurent SAS
Reasons to buy from us -
We cover more than 15 major industries, further segmented into more than 90 sectors.
More than 120 countries are for analysis.
Over 100+ paid data sources mined for investigation.
Our expert research analysts answer all your questions before and after purchasing your report.
For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/luxury-apparel-market
Media Contact:
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
Contact no: +91 7803040404
About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offer Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.
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