Market Overview 2023-2028:
The global luxury footwear market is expected to exhibit a growth rate (CAGR) of 4.4% during 2023-2028.
Luxury footwear is manufactured using premium quality materials. It can be differentiated from its affordable counterparts in terms of durability, uniqueness and comfort. It is not mass-produced, which makes it exclusive, expensive and difficult to find in the market. At present, improving living standards and inflating disposable incomes are escalating the demand for luxury footwear around the world.
Luxury Footwear Market Trends:
Rapid urbanization, in confluence with the rising influence of social media and the thriving fashion industry, represents one of the primary factors impelling the global luxury footwear market growth. Moreover, the growing preference for high-end fashion brands as a status symbol is also positively influencing the sales of handcrafted luxury footwear. Additionally, several leading brands are introducing a wide product range to expand their existing consumer base. In line with this, they are entering into strategic partnerships and alliances with various manufacturers to offer customized formal luxury footwear with a wide range of selections in material, design, color, and size. Apart from this, due to the sudden spread of the coronavirus disease (COVID-19) and the implementation of lockdown restrictions, leading players are shifting their focus from offline distribution channels to online platforms. Furthermore, increasing awareness about the environmental impact of footwear is encouraging manufacturers to adopt sustainable materials to develop ecological and sustainable luxury footwear. Such innovations, along with aggressive promotional activities, are anticipated to strengthen the growth of the market in the coming years.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global luxury footwear market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product, end user and distribution channel.
Breakup by Product:
Breakup by End User:
Breakup by Distribution Channel:
Breakup by Region:
- North America
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being A.Testoni (Sitoy Group Holdings Ltd), Adidas AG, Base London, Burberry, Chanel S.A. (CHANEL International B.V.), Dr. Martens (Airwair Group Limited), Hermès International S.A., Lottusse - Mallorca, LVMH Moët Hennessy - Louis Vuitton, Prada S.p.A (LUDO srl), Salvatore Ferragamo S.P.A. and Silvano Lattanzi srl.
|Base Year of the Analysis
||Product, End User, Distribution Channel, Region
||North America, Asia Pacific, Europe, Latin America, Middle East and Africa
||United States, Canada, China, Japan, India, South Korea, Australia, Indonesia, Germany, France, United Kingdom, Italy, Spain, Russia, Brazil, Mexico
||A.Testoni (Sitoy Group Holdings Ltd), Adidas AG, Base London, Burberry, Chanel S.A. (CHANEL International B.V.), Dr. Martens (Airwair Group Limited), Hermès International S.A., Lottusse - Mallorca, LVMH Moët Hennessy - Louis Vuitton, Prada S.p.A (LUDO srl), Salvatore Ferragamo S.P.A. and Silvano Lattanzi srl
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