Global Personal Luxury Goods Market 2017 by Key Players, Growth, Regions and Applications TO 2021

Summary

Orbis Research Inclusive Report: Global Personal Luxury Goods Segmented By Type, Application and by Geography-Trends and Forecasts (2017-2022) Major players in this industry and the key strategies adopted by them to sustain and grow in the studied market..

Description

Latest and Trending Research Report – Global Personal Luxury Goods Market 2017-2021

Following companies as the key players in the Global Personal Luxury Goods Market: Estée Lauder, L'Oréal, Luxottica, LVMH, Richemont, and The Swatch Group.

Other Prominent Vendors in the market are: BURBERRY, BREITLING, CHANEL, COACH, Giorgio Armani, Kate Spade, Kering, Nina Ricci, PRADA, Tiffany, Valentino Fashion Group, Hermès, Ralph Lauren, and VF Corporation.

The market is divided into the following segments based on geography:

Americas
APAC
Europe
MEA

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Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is omni-channel distribution. In the world of luxury, brand experience and perception stands to be more important than price. Luxury brands such as PRADA, Rolex, and CHANEL offer premium in-store experience and are uneasy about adopting the online channel as they see it as a threat to exclusivity. Due to this, the luxury business has been slow to adapt to the e-commerce model. The pure-play retailers are the leading players in the market. Net-A-Porter stands as the leading player in the US market selling high end luxury. Other players include ASOS and MR Porter.”

According to the report, one of the major drivers for this market is rising tourist spending. Luxury tourism spending has been one of the major growth contributors in the market. At a global level, the US and European countries are considered to be the major destinations for luxury tourism. The non-availability of many luxury products and brands or the high prices of the available ones in their home regions drive many South and Central American and Asian customers to European countries.

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Further, the report states that one of the major factors hindering the growth of this market is presence of counterfeit products. With the growing demand for leather fashion products, manufacturers are finding difficulty in dealing with counterfeit products. Counterfeit products not only affect the actual brands in terms of revenue, but also negatively affect the goodwill of original brands.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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