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*As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

GCC Personal Luxury Goods Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025

The GCC personal luxury goods market grew at a CAGR of around 5% during 2014-2019. Personal luxury goods refer to the high-end and premium items, including apparel, watches, jewelry, cosmetics, bags, fashion accessories, etc. These branded products offer premium quality materials, superior craftsmanship, and high-value aesthetics. Most of the personal luxury goods are highly durable with extended warranty period, thereby being heavily priced. In the GCC region, rapid globalization along with the wide presence of international luxury brands is currently bolstering the market growth.

The rising consumer living standards supported by their increasing disposable income levels are augmenting the sales of personal luxury goods in the GCC region. Moreover, the high prevalence of western fashion trends coupled with the rising working women population is also catalyzing the product demand. The expanding tourism sector, particularly in Dubai and UAE, along with the relaxed trade barriers with several developed countries, is also driving the market growth. For instance, the GCC member states signed the European Free Trade Agreement (EFTA), allowing the trade of personal luxury goods from countries like Italy and France. Besides this, the wide availability of personal luxury goods on online retail platforms is also propelling the market growth in the region. The growing number of celebrity endorsements and the high prevalence of social media marketing are also driving the demand of personnel luxury goods in the region. Apart from this, the rising popularity of limited capsule collections and fashion drops have also fueled the market for secondhand luxury goods. Moreover, various personal luxury platforms are increasingly investing in authentication procedures and quality checks for providing a safe and reliable environment for customers. Several innovative technologies are being adopted to maintain brand value and minimize the risk of product replication by counterfeiters.

The sudden outbreak of COVID-19 across the GCC region in early 2020 has negatively impacted the growth of the personal luxury goods market. The market, however, is expected to recover from 2021 onwards and grow moderately during 2021-2025.

Breakup by Country:

  • Saudi Arabia
  • United Arab Emirates
  • Qatar
  • Kuwait
  • Oman
  • Bahrain
     

Breakup by Type:

  • Accessories
  • Apparel
  • Watch and Jewellery
  • Luxury Cosmetics
  • Others
     

Breakup by Gender:

  • Female
  • Male
     

Breakup by Distribution Channel:

  • Mono-brand Stores
  • Speciality Stores
  • Departmental Stores
  • Online Stores
  • Others
     

Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the key players being Burberry Group PLC, Chanel S.A., Estee Lauder Companies, Giorgio Armani SpA, Kering S.A., Loreal, LVMH Moët Hennessy Louis Vuitton SE, Mulberry Group PLC, Prada Group, Cie Financiere Richemont SA, The Swatch Group, and Versace.

Key Questions Answered in This Report:

  • How has the GCC personal luxury goods market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global GCC personal luxury goods market?
  • What is the breakup of the market based on the country?
  • What is the breakup of the market based on the type?
  • What is the breakup of the market based on the gender?
  • What is the breakup of the market based on the distribution channel?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global GCC personal luxury goods market and who are the key players?
  • What is the degree of competition in the industry?

1 Preface
2 Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    GCC Personal Luxury Goods Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast 
6   Market Breakup by Country
    6.1   Saudi Arabia
        6.1.1    Market Trends
        6.1.2    Market Forecast
    6.2   United Arab Emirates
        6.2.1    Market Trends
        6.2.2    Market Forecast
    6.3   Qatar
        6.3.1    Market Trends
        6.3.2    Market Forecast
    6.4   Kuwait
        6.4.1    Market Trends
        6.4.2    Market Forecast
    6.5   Oman
        6.5.1    Market Trends
        6.5.2    Market Forecast
    6.6   Bahrain
        6.6.1    Market Trends
        6.6.2    Market Forecast
7    Market Breakup by Type
    7.1    Accessories
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Apparel
        7.2.1 Market Trends
        7.2.2 Market Forecast   
    7.3    Watch and Jewellery
        7.3.1 Market Trends
        7.3.2 Market Forecast   
    7.4    Luxury Cosmetics
        7.4.1 Market Trends
        7.4.2 Market Forecast   
    7.5    Others
        7.5.1 Market Trends
        7.5.2 Market Forecast   
8   Market Breakup by Gender
    8.1    Female
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Male
        8.2.1 Market Trends
        8.2.2 Market Forecast
9   Market Breakup by Distribution Channel
    9.1    Mono-brand Stores
        9.1.1 Market Trends
        9.1.2 Market Forecast
    9.2    Speciality Stores
        9.2.1 Market Trends
        9.2.2 Market Forecast
    9.3    Departmental Stores
        9.3.1 Market Trends
        9.3.2 Market Forecast
    9.4    Online Stores
        9.4.1 Market Trends
        9.4.2 Market Forecast
    9.5    Others
        9.5.1 Market Trends
        9.5.2 Market Forecast
10   SWOT Analysis
     10.1    Overview
     10.2    Strengths
     10.3    Weaknesses
     10.4    Opportunities
     10.5    Threats
11   Value Chain Analysis 
12   Porter’s Five Forces Analysis 

     12.1    Overview
     12.2    Bargaining Power of Buyers
     12.3    Bargaining Power of Suppliers
     12.4    Degree of Competition
     12.5    Threat of New Entrants
     12.6    Threat of Substitutes
13    Competitive Landscape
     13.1   Market Structure
     13.2   Key Players
     13.3   Profiles of Key Players
          13.3.1    Burberry Group PLC 
               13.3.1.1 Company Overview
               13.3.1.2 Product Portfolio 
               13.3.1.3 Financials
          13.3.2    Chanel S.A.
               13.3.2.1 Company Overview
               13.3.2.2 Product Portfolio 
               13.3.2.3 Financials
           13.3.3    Estee Lauder Companies 
               13.3.3.1 Company Overview
               13.3.3.2 Product Portfolio 
               13.3.2.3 Financials
           13.3.4    Giorgio Armani SpA
               13.3.4.1 Company Overview
               13.3.4.2 Product Portfolio 
           13.3.5    Kering S.A.
               13.3.5.1 Company Overview
               13.3.5.2 Product Portfolio 
               13.3.5.3 Financials
           13.3.6    Loreal 
               13.3.6.1 Company Overview
               13.3.6.2 Product Portfolio 
               13.3.6.3 Financials
           13.3.7    LVMH Moët Hennessy Louis Vuitton SE 
               13.3.7.1 Company Overview
               13.3.7.2 Product Portfolio 
               13.3.7.3 Financials
           13.3.8    Mulberry Group PLC 
               13.3.8.1 Company Overview
               13.3.8.2 Product Portfolio 
               13.3.8.3 Financials
           13.3.9    Prada Group
               13.3.9.1 Company Overview
               13.3.9.2 Product Portfolio 
               13.3.9.3 Financials
           13.3.10    Cie Financiere Richemont SA 
               13.3.10.1 Company Overview
               13.3.10.2 Product Portfolio 
               13.3.10.3 Financials
           13.3.11    The Swatch Group
               13.3.11.1 Company Overview
               13.3.11.2 Product Portfolio 
               13.3.11.3 Financials
           13.3.12    Versace
               13.3.12.1 Company Overview
               13.3.12.2 Product Portfolio 

List of Figures

Figure 1: GCC: Personal Luxury Goods Market: Major Drivers and Challenges
Figure 2: GCC: Personal Luxury Goods Market: Sales Value (in Billion US$), 2014-2019
Figure 3: GCC: Personal Luxury Goods Market: Breakup by Country (in %), 2019
Figure 4: GCC: Personal Luxury Goods Market: Breakup by Type (in %), 2019
Figure 5: GCC: Personal Luxury Goods Market: Breakup by Gender (in %), 2019
Figure 6: GCC: Personal Luxury Goods Market: Breakup by Distribution Channel (in %), 2019
Figure 7: GCC: Personal Luxury Goods Market Forecast: Sales Value (in Billion US$), 2020-2025
Figure 8: Saudi Arabia: Personal Luxury Goods Market: Sales Value (in Million US$), 2014 & 2019
Figure 9: Saudi Arabia: Personal Luxury Goods Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 10: United Arab Emirates: Personal Luxury Goods Market: Sales Value (in Million US$), 2014 & 2019
Figure 11: United Arab Emirates: Personal Luxury Goods Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 12: Qatar: Personal Luxury Goods Market: Sales Value (in Million US$), 2014 & 2019
Figure 13: Qatar: Personal Luxury Goods Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 14: Kuwait: Personal Luxury Goods Market: Sales Value (in Million US$), 2014 & 2019
Figure 15: Kuwait: Personal Luxury Goods Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 16: Oman: Personal Luxury Goods Market: Sales Value (in Million US$), 2014 & 2019
Figure 17: Oman: Personal Luxury Goods Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 18: Bahrain: Personal Luxury Goods Market: Sales Value (in Million US$), 2014 & 2019
Figure 19: Bahrain: Personal Luxury Goods Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 20: GCC: Personal Luxury Goods (Accessories) Market: Sales Value (in Million US$), 2014 & 2019
Figure 21: GCC: Personal Luxury Goods (Accessories) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 22: GCC: Personal Luxury Goods (Apparels) Market: Sales Value (in Million US$), 2014 & 2019
Figure 23: GCC: Personal Luxury Goods (Apparels) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 24: GCC: Personal Luxury Goods (Watch and Jewellery) Market: Sales Value (in Million US$), 2014 & 2019 
Figure 25: GCC: Personal Luxury Goods (Watch and Jewellery) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 26: GCC: Personal Luxury Goods (Luxury Cosmetics) Market: Sales Value (in Million US$), 2014 & 2019
Figure 27: GCC: Personal Luxury Goods (Luxury Cosmetics) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 28: GCC: Personal Luxury Goods (Other Product Types) Market: Sales Value (in Million US$), 2014 & 2019
Figure 29: GCC: Personal Luxury Goods (Other Product Types) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 30: GCC: Personal Luxury Goods (Purchase by Females) Market: Sales Value (in Billion US$), 2014 & 2019
Figure 31: GCC: Personal Luxury Goods (Purchase by Females) Market Forecast: Sales Value (in Billion US$), 2020-2025
Figure 32: GCC: Personal Luxury Goods (Purchase by Males) Market: Sales Value (in Billion US$), 2014 & 2019
Figure 33: GCC: Personal Luxury Goods (Purchase by Males) Market Forecast: Sales Value (in Billion US$), 2020-2025
Figure 34: GCC: Personal Luxury Goods Market: Sales through Mono-Brand Stores (in Million US$), 2014 & 2019
Figure 35: GCC: Personal Luxury Goods Market Forecast: Sales through Mono-Brand Stores (in Million US$), 2020-2025
Figure 36: GCC: Personal Luxury Goods Market: Sales through Specialty Stores (in Million US$), 2014 & 2019
Figure 37: GCC: Personal Luxury Goods Market Forecast: Sales through Specialty Stores (in Million US$), 2020-2025
Figure 38: GCC: Personal Luxury Goods Market: Sales through Departmental Stores (in Million US$), 2014 & 2019
Figure 39: GCC: Personal Luxury Goods Market Forecast: Sales through Departmental Stores (in Million US$), 2020-2025
Figure 40: GCC: Personal Luxury Goods Market: Sales through Online Stores (in Million US$), 2014 & 2019
Figure 41: GCC: Personal Luxury Goods Market Forecast: Sales through Online Stores (in Million US$), 2020-2025
Figure 42: GCC: Personal Luxury Goods Market: Sales through Other Distribution Channels (in Million US$), 2014 & 2019
Figure 43: GCC: Personal Luxury Goods Market Forecast: Sales through Other Distribution Channels (in Million US$), 2020-2025
Figure 44: GCC: Personal Luxury Goods Market: SWOT Analysis
Figure 45: GCC: Personal Luxury Goods Market: Value Chain Analysis
Figure 46: GCC: Personal Luxury Goods Market: Porter’s Five Forces Analysis

List of Tables


Table 1: GCC: Personal Luxury Goods Market: Key Industry Highlights, 2019 and 2025
Table 2: GCC: Personal Luxury Goods Market Forecast: Breakup by Country (in Million US$), 2020-2025
Table 3: GCC: Personal Luxury Goods Market Forecast: Breakup by Type (in Million US$), 2020-2025
Table 4: GCC: Personal Luxury Goods Market Forecast: Breakup by Gender (in Billion US$), 2020-2025
Table 5: GCC: Personal Luxury Goods Market Forecast: Breakup by Distribution Channel (in Million US$), 2020-2025
Table 6: GCC: Personal Luxury Goods Market: Competitive Structure
Table 7: GCC: Personal Luxury Goods Market: Key Players

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