Press release
Luxury Goods Market Expected To Reach USD 794.50 Billion by 2032, Growing at a CAGR of 7.3% LVHM, Kering SA, Chow Tai Fook Jewellery Group Limited
Luxury Goods Market
Some of the Top Leading Key Players:
Compagnie Financière Richemont SA (Switzerland), Kering SA (France), Chow Tai Fook Jewellery Group Limited (Hong Kong), The Estée Lauder Companies Inc. (U.S.), Luxottica Group SpA (Italy), The Swatch Group Ltd. (Switzerland), L'Oréal Group (France), Ralph Lauren Corporation (U.S.), Shiseido Company, Limited (Japan), Others Key Player,
Luxury Goods Market Size Was Valued at USD 421.4 Billion in 2023, and is Projected to Reach USD 794.50 Billion by 2032, Growing at a CAGR of 7.3% From 2024-2032.
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When compared to other ordinary items and services, which are those that are of higher quality, more expensive, and scarcer in supply, luxury goods can be characterized as those that meet in terms of quality, availability, and price. They are seen to be opulent, stylish, and well-made, and they are aimed at customers who seek for distinctive brands with a strong historical foundation and a reputation for their designs. These include, among other things, luxury accessories, jewelry, designer clothing, and exotic automakers.
Segmentation Analysis of the Luxury Goods Market
By Product Type
Designer Apparels
Jewelry & Timepieces
Accessories
Cosmetics
Fine Wines/Champagne And Spirits
Travel Goods
Others
By Mode of Sale
Retail
Online
By Gender
Male
Female
Luxury Goods Market Trend Analysis
Rise of Sustainable and Ethical Luxury
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Key Industry Developments in the Luxury Goods Market:
In January 2024, Miu Miu (Prada) launched its fourth limited edition collection of upcycled bags, named "Miu Miu Upcycled: Denim and Patch" bags.
In December 2023, Kering has announced that it has finalised the acquisition of a 30% stake in Valentino. The luxury group paid 1.7 billion euros (1.75 billion USD) to Valentino's owner, the investment equity firm Mayhoola, with an option to buy 100% of the Italian brand's capital until 2028.
In September 2023, Richemont SA launched a new beauty division named Laboratoire de Haute Parfumerie et Beauté.
Regional Analysis
North America is Expected to Dominate the Market Over the Forecast period
Geographically, the distinctive analysis of consumption, revenue, market share, and growth rate of the subsequent areas:
• North America (U.S., Canada, Mexico)
• Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
• Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
• Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
• South America (Brazil, Argentina, Rest of SA)
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Strategic Points Covered in Table of Content of Luxury Goods Market:
Chapter One: Introduction
Chapter Two: Executive Summary
Chapter Three: Luxury Goods Market Landscape
Chapter Four: Luxury Goods Market by Type
Chapter Five: Luxury Goods Market by Application
Chapter Six: Company Profiles and Competitive Analysis
Chapter Seven: Global Luxury Goods Market by Region
Chapter Eight: Analyst Viewpoint and Conclusion
Chapter Nine: Research Methodology
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