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Luxury Fashion Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global luxury fashion market size reached US$ 237.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 294.7 Billion by 2028, exhibiting a growth rate (CAGR) of 3.60% during 2023-2028.

Luxury fashion is a brand characterized by non-essential, premium, elevated quality, exclusivity, and high-price tag products. It comprises premium watches, jewelry, fashion accessories, clothing, designer handbags, perfumes, and high-end cosmetics. These products are manufactured using high-grade materials and offer superior craftsmanship, high-value aesthetics, and an extended warranty period. Luxury fashion includes artistic and unique products that are highly desirable in a culture or society and serve as a status symbol. They also exhibit uniqueness and provide an unforgettable and personalized experience in terms of luxurious packaging, high-touch service, and an affluent in-store environment.

Luxury Fashion Market Trends:

The evolving fashion industry and changing aesthetic trends are among the key factors driving the market growth. In line with this, the shifting consumer preference towards high-quality and stylish products with advanced technical fabrications and craftsmanship is favoring the market growth. Moreover, the rising popularity of high-end fashion brands as a status symbol, coupled with the increasing expenditure capacities of consumers, is acting as another growth-inducing factor. Furthermore, the rising influence of social media and surging promotions and celebrity endorsements are propelling the market growth. Apart from this, key players are adopting sustainable production methods, such as utilizing ethically sourced, eco-friendly, or recycled materials, due to the rising environmental concerns, which, in turn, is providing an impetus to the market growth. Additionally, the incorporation of augmented reality (AR) in the fashion industry to provide a virtual in-shop buying experience to customers from the comfort of their homes, making it easier and more convenient, is positively influencing the market growth. Other factors, including increasing brand loyalty among customers, inflating online sales, and rising demand for premiumization and customization for superior quality and design of products, are anticipated to drive the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global luxury fashion market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product type, distribution channel and end user.

Breakup by Product Type:

  • Clothing & Apparel
    • Jackets & Coats
    • Skirts
    • Shirts & T-Shirts
    • Dresses
    • Trousers & Shorts
    • Denim
    • Underwear & Lingerie
    • Others
  • Footwear
  • Accessories
    • Gems & Jewellery
    • Belts
    • Bags
    • Watches
       

Breakup by Distribution Channel:

  • Store-Based
  • Non-Store Based
     

Breakup by End User:

  • Men
  • Women
  • Unisex
     

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Burberry Group Plc, Capri Holdings Limited, Chanel S.A., Diesel S.p.A. (OTB Group), Dolce & Gabbana S.r.l., Giorgio Armani S.p.A., Industria de Diseño Textil S.A., Kering SA, LVMH Moët Hennessy Louis Vuitton, Prada S.p.A., PVH Corp., Ralph Lauren Corporation and Rolex SA. Kindly, note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Report Features Details
Base Year of the Analysis 2022
    Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Billion
Segment Coverage Product Type, Distribution Channel, End User, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Burberry Group Plc, Capri Holdings Limited, Chanel S.A., Diesel S.p.A. (OTB Group), Dolce & Gabbana S.r.l., Giorgio Armani S.p.A., Industria de Diseño Textil S.A., Kering SA, LVMH Moët Hennessy Louis Vuitton, Prada S.p.A., PVH Corp., Ralph Lauren Corporation and Rolex SA.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

Key Questions Answered in This Report:

  • How has the global luxury fashion market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global luxury fashion market?
  • What are the key regional markets?
  • What is the breakup of the market based on the product type?
  • What is the breakup of the market based on the distribution channel?
  • What is the breakup of the market based on the end user?
  • 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 luxury fashion 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    Global Luxury Fashion Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Product Type
    6.1    Clothing & Apparel
        6.1.1 Market Trends
        6.1.2 Key Segments
           6.1.2.1 Jackets & Coats
          6.1.2.2 Skirts
          6.1.2.3 Shirts & T-Shirts
          6.1.2.4 Dresses
          6.1.2.5 Trousers & Shorts
          6.1.2.6 Denim
          6.1.2.7 Underwear & Lingerie
          6.1.2.8 Others
        6.1.3 Market Forecast
    6.2    Footwear
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    Accessories
        6.3.1 Market Trends
        6.3.2 Key Segments
           6.3.2.1 Gems & Jewellery
          6.3.2.2 Belts
          6.3.2.3 Bags
          6.3.2.4 Watches
        6.3.3 Market Forecast
7    Market Breakup by Distribution Channel
    7.1    Store-Based
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Non-Store Based
        7.2.1 Market Trends
        7.2.2 Market Forecast
8    Market Breakup by End User
    8.1    Men
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Women
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    Unisex
        8.3.1 Market Trends
        8.3.2 Market Forecast
9    Market Breakup by Region
    9.1    North America
        9.1.1 United States
           9.1.1.1 Market Trends
           9.1.1.2 Market Forecast
        9.1.2 Canada
           9.1.2.1 Market Trends
           9.1.2.2 Market Forecast
    9.2    Asia-Pacific
        9.2.1 China
           9.2.1.1 Market Trends
           9.2.1.2 Market Forecast
        9.2.2 Japan
           9.2.2.1 Market Trends
           9.2.2.2 Market Forecast
        9.2.3 India
           9.2.3.1 Market Trends
           9.2.3.2 Market Forecast
        9.2.4 South Korea
           9.2.4.1 Market Trends
           9.2.4.2 Market Forecast
        9.2.5 Australia
           9.2.5.1 Market Trends
           9.2.5.2 Market Forecast
        9.2.6 Indonesia
           9.2.6.1 Market Trends
           9.2.6.2 Market Forecast
        9.2.7 Others
           9.2.7.1 Market Trends
           9.2.7.2 Market Forecast
    9.3    Europe
        9.3.1 Germany
           9.3.1.1 Market Trends
           9.3.1.2 Market Forecast
        9.3.2 France
           9.3.2.1 Market Trends
           9.3.2.2 Market Forecast
        9.3.3 United Kingdom
           9.3.3.1 Market Trends
           9.3.3.2 Market Forecast
        9.3.4 Italy
           9.3.4.1 Market Trends
           9.3.4.2 Market Forecast
        9.3.5 Spain
           9.3.5.1 Market Trends
           9.3.5.2 Market Forecast
        9.3.6 Russia
           9.3.6.1 Market Trends
           9.3.6.2 Market Forecast
        9.3.7 Others
           9.3.7.1 Market Trends
           9.3.7.2 Market Forecast
    9.4    Latin America
        9.4.1 Brazil
           9.4.1.1 Market Trends
           9.4.1.2 Market Forecast
        9.4.2 Mexico
           9.4.2.1 Market Trends
           9.4.2.2 Market Forecast
        9.4.3 Others
           9.4.3.1 Market Trends
           9.4.3.2 Market Forecast
    9.5    Middle East and Africa
        9.5.1 Market Trends
        9.5.2 Market Breakup by Country
        9.5.3 Market Forecast
10    Drivers, Restraints, and Opportunities
    10.1    Overview
    10.2    Drivers
    10.3    Restraints
    10.4    Opportunities
11    Value Chain Analysis
12    Porters 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    Price Analysis
14    Competitive Landscape

    14.1    Market Structure
    14.2    Key Players
    14.3    Profiles of Key Players
        14.3.1    Burberry Group Plc
           14.3.1.1 Company Overview
           14.3.1.2 Product Portfolio
           14.3.1.3 Financials
           14.3.1.4 SWOT Analysis
        14.3.2    Capri Holdings Limited
           14.3.2.1 Company Overview
           14.3.2.2 Product Portfolio
           14.3.2.3 Financials
        14.3.3    Chanel S.A.
           14.3.3.1 Company Overview
           14.3.3.2 Product Portfolio
        14.3.4    Diesel S.p.A. (OTB Group)
           14.3.4.1 Company Overview
           14.3.4.2 Product Portfolio
        14.3.5    Dolce & Gabbana S.r.l.
           14.3.5.1 Company Overview
           14.3.5.2 Product Portfolio
        14.3.6    Giorgio Armani S.p.A.
           14.3.6.1 Company Overview
           14.3.6.2 Product Portfolio
        14.3.7    Industria de Diseño Textil S.A.
           14.3.7.1 Company Overview
           14.3.7.2 Product Portfolio
           14.3.7.3 Financials
           14.3.7.4 SWOT Analysis
        14.3.8    Kering SA
           14.3.8.1 Company Overview
           14.3.8.2 Product Portfolio
           14.3.8.3 Financials
           14.3.8.4 SWOT Analysis
        14.3.9    LVMH Moët Hennessy Louis Vuitton
           14.3.9.1 Company Overview
           14.3.9.2 Product Portfolio
           14.3.9.3 Financials
           14.3.9.4 SWOT Analysis
        14.3.10    Prada S.p.A.
           14.3.10.1 Company Overview
           14.3.10.2 Product Portfolio
           14.3.10.3 Financials
        14.3.11    PVH Corp.
           14.3.11.1 Company Overview
           14.3.11.2 Product Portfolio
           14.3.11.3 Financials
           14.3.11.4 SWOT Analysis
        14.3.12    Ralph Lauren Corporation
           14.3.12.1 Company Overview
           14.3.12.2 Product Portfolio
           14.3.12.3 Financials
           14.3.12.4 SWOT Analysis
        14.3.13    Rolex SA
           14.3.13.1 Company Overview
           14.3.13.2 Product Portfolio
Kindly, note that this only represents a partial list of companies, and the complete list has been provided in the report

List of Figures

Figure 1: Global: Luxury Fashion Market: Major Drivers and Challenges
Figure 2: Global: Luxury Fashion Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Luxury Fashion Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 4: Global: Luxury Fashion Market: Breakup by Product Type (in %), 2022
Figure 5: Global: Luxury Fashion Market: Breakup by Distribution Channel (in %), 2022
Figure 6: Global: Luxury Fashion Market: Breakup by End User (in %), 2022
Figure 7: Global: Luxury Fashion Market: Breakup by Region (in %), 2022
Figure 8: Global: Luxury Fashion (Clothing & Apparel) Market: Sales Value (in Million US$), 2017 & 2022
Figure 9: Global: Luxury Fashion (Clothing & Apparel) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 10: Global: Luxury Fashion (Footwear) Market: Sales Value (in Million US$), 2017 & 2022
Figure 11: Global: Luxury Fashion (Footwear) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: Global: Luxury Fashion (Accessories) Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: Global: Luxury Fashion (Accessories) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: Global: Luxury Fashion (Store-Based) Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: Global: Luxury Fashion (Store-Based) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: Global: Luxury Fashion (Non-Store Based) Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: Global: Luxury Fashion (Non-Store Based) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 18: Global: Luxury Fashion (Men) Market: Sales Value (in Million US$), 2017 & 2022
Figure 19: Global: Luxury Fashion (Men) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 20: Global: Luxury Fashion (Women) Market: Sales Value (in Million US$), 2017 & 2022
Figure 21: Global: Luxury Fashion (Women) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: Global: Luxury Fashion (Unisex) Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: Global: Luxury Fashion (Unisex) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: North America: Luxury Fashion Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: North America: Luxury Fashion Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: United States: Luxury Fashion Market: Sales Value (in Million US$), 2017 & 2022
Figure 27: United States: Luxury Fashion Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 28: Canada: Luxury Fashion Market: Sales Value (in Million US$), 2017 & 2022
Figure 29: Canada: Luxury Fashion Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 30: Asia-Pacific: Luxury Fashion Market: Sales Value (in Million US$), 2017 & 2022
Figure 31: Asia-Pacific: Luxury Fashion Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 32: China: Luxury Fashion Market: Sales Value (in Million US$), 2017 & 2022
Figure 33: China: Luxury Fashion Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 34: Japan: Luxury Fashion Market: Sales Value (in Million US$), 2017 & 2022
Figure 35: Japan: Luxury Fashion Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 36: India: Luxury Fashion Market: Sales Value (in Million US$), 2017 & 2022
Figure 37: India: Luxury Fashion Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 38: South Korea: Luxury Fashion Market: Sales Value (in Million US$), 2017 & 2022
Figure 39: South Korea: Luxury Fashion Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 40: Australia: Luxury Fashion Market: Sales Value (in Million US$), 2017 & 2022
Figure 41: Australia: Luxury Fashion Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 42: Indonesia: Luxury Fashion Market: Sales Value (in Million US$), 2017 & 2022
Figure 43: Indonesia: Luxury Fashion Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 44: Others: Luxury Fashion Market: Sales Value (in Million US$), 2017 & 2022
Figure 45: Others: Luxury Fashion Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 46: Europe: Luxury Fashion Market: Sales Value (in Million US$), 2017 & 2022
Figure 47: Europe: Luxury Fashion Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 48: Germany: Luxury Fashion Market: Sales Value (in Million US$), 2017 & 2022
Figure 49: Germany: Luxury Fashion Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 50: France: Luxury Fashion Market: Sales Value (in Million US$), 2017 & 2022
Figure 51: France: Luxury Fashion Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 52: United Kingdom: Luxury Fashion Market: Sales Value (in Million US$), 2017 & 2022
Figure 53: United Kingdom: Luxury Fashion Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 54: Italy: Luxury Fashion Market: Sales Value (in Million US$), 2017 & 2022
Figure 55: Italy: Luxury Fashion Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 56: Spain: Luxury Fashion Market: Sales Value (in Million US$), 2017 & 2022
Figure 57: Spain: Luxury Fashion Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 58: Russia: Luxury Fashion Market: Sales Value (in Million US$), 2017 & 2022
Figure 59: Russia: Luxury Fashion Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 60: Others: Luxury Fashion Market: Sales Value (in Million US$), 2017 & 2022
Figure 61: Others: Luxury Fashion Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 62: Latin America: Luxury Fashion Market: Sales Value (in Million US$), 2017 & 2022
Figure 63: Latin America: Luxury Fashion Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 64: Brazil: Luxury Fashion Market: Sales Value (in Million US$), 2017 & 2022
Figure 65: Brazil: Luxury Fashion Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 66: Mexico: Luxury Fashion Market: Sales Value (in Million US$), 2017 & 2022
Figure 67: Mexico: Luxury Fashion Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 68: Others: Luxury Fashion Market: Sales Value (in Million US$), 2017 & 2022
Figure 69: Others: Luxury Fashion Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 70: Middle East and Africa: Luxury Fashion Market: Sales Value (in Million US$), 2017 & 2022
Figure 71: Middle East and Africa: Luxury Fashion Market: Breakup by Country (in %), 2022
Figure 72: Middle East and Africa: Luxury Fashion Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 73: Global: Luxury Fashion Industry: SWOT Analysis
Figure 74: Global: Luxury Fashion Industry: Value Chain Analysis
Figure 75: Global: Luxury Fashion Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Luxury Fashion Market: Key Industry Highlights, 2022 & 2028
Table 2: Global: Luxury Fashion Market Forecast: Breakup by Product Type (in Million US$), 2023-2028
Table 3: Global: Luxury Fashion Market Forecast: Breakup by Distribution Channel (in Million US$), 2023-2028
Table 4: Global: Luxury Fashion Market Forecast: Breakup by End User (in Million US$), 2023-2028
Table 5: Global: Luxury Fashion Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 6: Global: Luxury Fashion Market: Competitive Structure
Table 7: Global: Luxury Fashion Market: Key Players


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