Luxury Industry
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Luxury Industry, by Product (Apparel, Watches, Jewellery, Handbags, Perfumes & Cosmetics, Footwear), By End-user (Men, Women) and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America).
Luxury Industry
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Luxury Industry – Trends Forecast Till 2030 sales@delvens.comwww.delvens.com
Luxury Industry – Trends Forecast Till 2030 Luxury Industry, by Product (Apparel, Watches, Jewellery, Handbags, Perfumes & Cosmetics, Footwear), By End-user (Men, Women) and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America). Request For Free Sample Report:https://www.delvens.com/get-free-sample/luxury-industry sales@delvens.com www.delvens.com
Market Overview The global Luxury Industry size was estimated at USD 367,230 million in 2023 and is projected to reach USD 593,559.76 million in 2030 at a CAGR of 7.10 % during the forecast period 2024-2030. The luxury industry encompasses a wide range of high-end products and services, including fashion, automobiles, jewellery, watches, travel, and hospitality. These goods are typically characterized by their superior craftsmanship, premium quality, exclusivity, and high price points. Luxury brands often evoke a sense of aspiration and status, targeting wealthy consumers who seek both superior product quality and a distinct identity through their purchases. Purchase this Report: https://www.delvens.com/checkout/luxury-industry sales@delvens.com www.delvens.com
Key Findings The apparel segment accounted for approximately 26.5% of global luxury market revenue in 2023, with factors like continuous product innovation, evolving fashion trends, and targeted marketing initiatives driving its dominance. For example, Louis Vuitton’s launch of pop-up stores and activations for its Spring-Summer 2024 Men’s Collection in key cities such as Paris, Seoul, Miami, London, Los Angeles, and New York highlighted the brand’s strategy to engage consumers globally. The handbags segment is forecast to grow at a CAGR of 8.2% from 2024 to 2030. Handbags, once purely functional items, have become powerful status symbols and reflections of personal style. This transformation is particularly evident in emerging markets, where rising disposable incomes and aspirational buying tendencies are driving demand. The perfumes and cosmetics segment is expected to grow at a CAGR of 7.0% from 2024 to 2030. This growth is largely fuelled by changing consumer preferences, with Gen Z and millennials increasingly shaping the luxury beauty market. The jewellery segment is projected to grow at a CAGR of 7.98% from 2024 to 2030, driven by rising disposable incomes and the growing presence of female self-purchasers. The demand for branded and customized luxury jewellery, as well as the symbolic value attached to these pieces, continues to grow. sales@delvens.com www.delvens.com
Key Findings • The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. Asia pacific region is projected to hold the largest market share. Factors such as Rising disposable incomes, growing number of high-net-worth individuals, increasing demand for exclusivity, expanding emerging markets, shift toward experience-based luxury, digital transformation and e-commerce growth, emphasis on sustainability and ethical practices, influence of social media and influencers have triggered the Luxury Industry in the region. • Inquire Before Buying:https://www.delvens.com/Inquire-before-buying/luxury-industry sales@delvens.com www.delvens.com
Competitive Landscape • LVMH Group • Chanel LTD • Burberry Group PLC • Prada S.p.A • Kering SA • Coty Inc. • Estée Lauder Companies Inc. • Shiseido Company, Limited • L'Oréal S.A. and More. sales@delvens.com www.delvens.com
Recent Developments In January 2024, Miu Miu, a subsidiary of Prada, introduced its fourth limited-edition collection of upcycled bags, titled “Miu Miu Upcycled: Denim and Patch” bags.. In September 2023, Richemont SA unveiled a new venture into the beauty industry with the launch of Laboratoire de Haute Parfumerie et Beauté, a high-end division dedicated to luxury fragrances and beauty products. This move marks Richemont’s strategic expansion beyond traditional luxury goods, further diversifying its portfolio and tapping into the growing demand for premium beauty offerings. Also in September 2023, Ralph Lauren expanded its footprint in Canada by opening its first brick-and-mortar luxury store in the country, accompanied by the launch of a dedicated e-commerce platform. In June 2023, Kering Beauté, the beauty division of luxury conglomerate Kering, announced its acquisition of Creed, a prestigious and heritage-rich fragrance house. This acquisition is part of Kering's broader strategy to strengthen its position in the high-end beauty and fragrance sector, complementing its existing luxury offerings. The addition of Creed enhances Kering's portfolio and bolsters its presence in the premium fragrance market, aligning with the industry's growing focus on high-quality, niche beauty brands sales@delvens.com www.delvens.com
Contact Information About Us: Delvens is a strategic advisory and consulting company headquartered in New Delhi, India. The company holds expertise in providing syndicated research reports, customized research reports and consulting services. Delvens qualitative and quantitative data is highly utilized by each level from niche to major markets, serving more than 1K prominent companies by assuring to provide the information on country, regional and global business environment. We have a database for more than 45 industries in more than 115+ major countries globally. Contact Us: +44-20-3290-6466 +1 214-377-1144 sales@delvens.com sales@delvens.com www.delvens.com
