Luxury Fashion Market Synopsis

Luxury Fashion Market Size Was Valued at USD 129.77 Billion in 2023, and is Projected to Reach USD 209.39 Billion by 2032, Growing at a CAGR of 5.46% From 2024-2032.

The part of the fashion sector that deals with high-fashion, luxury priced clothing, accessories and footwear is referred to as luxury fashion market. Target consumers are the affluent, the fashion conscious, those who are willing to pay for the best in quality and styles on the market. There is no doubt that fashionable clothing brands: opulent, original, and fantastic, have a glorious history and the ability to use precious fabrics and stones. Since they are considered to be offering more value and as having better brand appeal, these firms often set the fashion instead of adapting to it, and these firms can afford to set higher prices. Market is characterized by exclusive distribution, low production volume; and a central focus on brand image and industry lore. Therefore the market for luxury fashion SCM affects consumer behavior across various socio economic segments and defines global trends of the fashion industry.

  • The luxury fashion industry is a dynamic sector involving chic organizations that offer products often on the list of priorities. They comprise readymade garments, accessories, shoes and etiquettes, and high fashion wears or products. Many famous companies in this industry often employ exclusivity, workmanship, heritage, and others to attract affluent customers all over the world.
  • Recent years have seen a shift in the market mainly due to the digital revolution, increased customer preferences and more consideration on sustainability. In the meantime, digital strategies are used by luxury brands increasingly for better communication with clients and efficient work. Moreover, the changing trends and popular brands embracing environment friendly approach and sustainable supply chain management system has propelled sustainability as one of the important issues.
  • Now, gross domestic product – overall, we see important effects of globalization such as the emergence of new countries China and other countries in Asia as important economic players. Therefore, product varieties and promotion strategies have become even more diverse in order to meet the local consumers’ preferences while maintaining product identity globally coherent.
  • As for the future development, advancement in material as well as technology, and in persuasive customer strategies will lead to greater change in the luxury fashion market. That is why, as a market becomes much more competitive brands that can manage these changes and stick to the key principles of their existence – being exclusive and proving the high quality of work, most likely will succeed.

Luxury Fashion Market Trend Analysis

Focus on Sustainability and Ethical Practices

  • Luxury fashion industries have awaked to sustainable and ethical behaviour due to an enhanced global perception of the environment. There is a general increase in the way people assess policies of the businesses they fund with increasing consciousness on the global climate affecting those industries that are sensitive to the environment. Once associated with opulence and sophistication, luxury fashion or luxury fashion brands nowadays are called to provide the answers to accountability and responsibility. To this brands are now using environmental friendly items such as recycled fabrics,organic cotton and other innovative fabrics that do not have adverse impacts on the environment during the production as well as during the disposal.
  • In addition, the concerns towards the society has continued to define buyers’ perception on how certain products will impact the society. Two of the most important types of ethical sourcing today are the fairly labour practices and supply chain depth. Those that place these factors first do not only gain moral customers but are also unique in a sea of competitors. Consequently, it is becoming a significant challenge for luxury fashion firms to integrate sustainability into components of organisational culture as requirements of organisational culture are shifting with the core values and procedural expectations of consumers and other market stakeholders. And therefore the sustainable luxury is not only brilliant position, adding to it more and more companies, but also the real vital necessity for the further development of luxury industries, influencing their common standards and trends with the emphasis on a conscious change for the better.

The Digital Transformation of Luxury Fashion: E-commerce and Emerging Technologies

  • The primary trends affecting the luxury fashion industry include digitalisation, which has been driven by shifts in the consumers’ attitude and innovation technology. A multiplier effect The successful operation of e-commerce as a contemporary manner of selling has made it an important sales opportunity that luxury firms can only dream of in terms of its ability to bring them global markets.. For one, to capture the attention of such customers, firms have been compelled to spend resources on their web presence, interfaces, and even marketing strategies. In addition, there has been a strengthened trend with the development of mobile commerce due to product differentiation, leading these luxury firms to build mobile sites and mobile applications to fulfill the sophisticated needs of their customer who have tight schedules.
  • Because they adapt the environment and are interactive, AR and VR assume the luxury buying experience is completely different. With the help of a smartphone application or AR-specific devices consumers are able to visualize products based within the actual environment. Not only it enhances the eCommerce shopping experience in general, but it also reduces uncertainties of the fit and appearance of the products thus enhancing customer satisfaction and trust. Virtual reality enhances the exclusivity and personalisation since clients can shop through virtual stores and fashion shows and even change the product in a virtual environment.
  • The integration of AR and VR in high-end fashion presents a slightly larger trend of enhancing consumer relations through enhanced integrated experiences. By using these technologies, brands may create exclusive and personalised environment that must attract the target clientele, comprising the wealthy clients in terms of their needs for convenience and sophistication in their shopping processes. With these technologies, they may likely hold a critical role in shaping the fashion of luxury retail in the coming years, set higher standards for customer-centricity innovations, and set higher readiness in the digital participation in the industry.

Luxury Fashion Market Segment Analysis:

Luxury Fashion Market is segmented based on Product Type, Generation, Distribution Channel and End-User.

By Product Type, Apparel segment is expected to dominate the market during the forecast period

  • This paper covers apparel one of the most basic elements in fashion industry which involves all clothing products that satisfies the needs and desire of the different customers. This market segment is crucial to the retail sector as it is a universal one penetrating all age and demo segments and proposing all from unique pieces to functional utilities. Apparel such as shirts, jeans, dresses, and coats are powerful way of personification or portraying an image apart from protecting the body.
  • The discussed apparel segment could dominate due to its faster ability to pivot regarding the fluctuations in seasonal requirements and trends. This is always the case for retailers and brands since customers will always want best value for their money and this includes combining functionality, comfort, and style. On the one hand, restrictive clothes like evening dresses and tuxedos are appropriate for various ceremonies and business events, on the other hand, trousers and T-shirts are the best examples of comfortable and casual outfits. Also, as the clothing is very flexible, one can adjust and vary its appearance in many respects; this means that the client can use this principle of choice as a means of advertising his or her preferences or, such, interests.
  • In addition to its aesthetic value and functionality, clothing is a very significant global industry, providing for the clothing manufacturing, selling, and design industries. For this purpose, brands and designers use consumer behaviour insights and trends in the respective culture, society and lifestyle related issues. This has the effect of encouraging brand allegiance and participation, in combination with keeping the customers’ attention. Nonetheless, clothing industry remains a vibrant segment in the larger fashion system and can be seen to evolve continuously to suit the prevailing trends in the fashion conscious market.

By End-User, Women segment held the largest share in 2023

  • Women’s wear remains the biggest subsector in the apparel market representing the many style, taste, occasion-specific clothing preferences and requirements of women. It is evaluated to be diverse by largest degree; targeting nearly all types of apparel, footwear, accessories for different life phases, for different body type and for different fashionable sense. Women fashion is category that goes from jeans and t-shirts to evening gowns and cocktail dresses and anything in between catering to all aspects of lifestyle that offer both beauty and utility.
  • The market leaders include women fashion because it is dynamic and can easily change depending on trends or consumers tastes and preference. Arising from this segment of designers and brands, creativity and innovation is in the seasonal collections mostly related to fashion trends, best selling trends in culture and shifting technology. This flexibility assures that women are able to get clothes and accessories that are functional as well as anything that is out there that helps them assert their voice and personality. Second, women’s fashion not only encompasses different sizes, but also styles, colors, patterns, and types of material popular for female clothing, so every woman can easily find something she will like.
  • From an economic standpoint, women’s clothing is a reason for hefty sales in the retail and fashion business at the international level. It assumes the role of the leading indicator of consumer expenditure and plays a critical role in retailing and markets. Companies seek to occupy a favorable place in terms of distribution, create unique value propositions, target marginalized audience segments and adapt groundbreaking marketing approaches with female consumers in mind. Thus, women’s fashion not only sets standards for culture, and aesthetics but is also provides the framework for how clothing is than viewed as an instrument of asserting one’s personhood.

Luxury Fashion Market Regional Insights:

Asia-Pacific is Expected to Dominate the Market Over the Forecast period

  • It is possible to say that Asia-Pacific has become a leader as concerns luxury fashion market share and demonstrates the highest growth rates. The region is expected to continue with growth at a CAGR of 6.79% for the duration of the forecast period owing to several factors. One of the main factors, is the growth in the population of billionaires in the Asia-Pacific, which has significantly raised the consumption of luxury fashion goods. This group of consumers is not only contributing to the growth of the.evaluate luxury goods such as leather products, fashion apparels, jewelry, cosmetics, perfumes and any other luxury products, but also determine the way the market for these products grows through the way they change their preferences.
  • Also, the latest statistics on increased middle-class disposable income in the fashion market have also contributed to the growth of this luxury fashion market segment. This was evident as more people over the population achieved higher purchasing ability, which would see a change of preference to luxury products understood to result in higher sales and effectively means growth in the opportunities for luxury consumption. Availability of international luxury brands has also helped greatly in influencing the consumer trends since they can easily access theThese are further compounded by the easy access through physical stores and e-Commerce sites hence consumers’ excitements and spending have also registered positive results.
  • To address such market forces, most luxury fashion brands are already in the process of increasing their exposure in the Asia-Pacific region. The region’s new luxury store openings in the first ten months of the year 2020 showed an upward of around 39% when compared to other parts of the world. Not only does this expansion strategy serve the increasing customer demand, it also allows the brands to position themselves in the region that is quickly becoming a place for luxury market. Continuing this trend of growing competition, brands are extending themselves and looking for new ways to capture and engage the luxury consumer in this fast pace growing environment.

Active Key Players in the Luxury Fashion Market

  • Armani Group
  • Burberry
  • Chanel
  • Hermes
  • Kering
  • LVMH
  • Capri Holdings
  • Moncler
  • MCM
  • OSKLEN
  • Salvatore Ferragamo
  • Tapestry
  • Tom Ford
  • Dolce & Gabbana
  • Hugo Boss
  • Max Mara Group Prada Group
  • Other Key Players

Key Industry Developments in the Luxury Fashion Market:

  • July 2023- Aza Fashions (Aza), the premier multi-designer luxury fashion retailer in India, revealed the grand opening of its new store in the center of Kolkata. With an unrivaled selection of designer clothing and accessories, Aza is poised to revolutionize the city's fashion scene.
  • February 2023- With the support of its French owner Kering, Gucci proclaimed the launch of what it claims is the first circular hub for luxury fashion in Italy. The circular center will seek to accelerate the circular transformation of the entire value chain of the Italian fashion industry, including raw materials, design, production, and logistics.

Global Luxury Fashion Market

Base Year:

2023

Forecast Period:

2024-2032

Historical Data:

2017 to 2023

Market Size in 2024:

USD 129.77 Bn.

Forecast Period 2024-32 CAGR:

5.46%

Market Size in 2032:

USD 209.39 Bn.

Segments Covered:

By Product Type

  • Apparel
  • Footwear
  • Accessories

By Generation

  • Gen X
  • Millennials and Gen Z
  • Baby Boomer and Silent Gen

By Distribution Channel

  • Online
  • Mono Brand Stores
  • Specialty Stores
  • Departmental Stores
  • Off-Price Stores
  • Airports

By End-User

  • Men
  • Women
  • Children

By Region

  • North America (U.S., Canada, Mexico)
  • Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
  • Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
  • Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
  • South America (Brazil, Argentina, Rest of SA)

Key Market Drivers:

  • Increasing Acceptance by Millennials and Generation Z

Key Market Restraints:

  • Availability of Second-hand Luxury Products

Key Opportunities:

  • Leveraging Augmented Reality

Companies Covered in the report:

  • Armani Group, Burberry, Chanel, Hermes, Kering, LVMH, Capri Holdings, Moncler, MCM, OSKLEN, Salvatore Ferragamo, Tapestry, Tom Ford, Dolce & Gabbana, Hugo Boss, Max Mara Group Prada Group and Other Major Players.

Chapter 1: Introduction
 1.1 Scope and Coverage

Chapter 2:Executive Summary

Chapter 3: Market Landscape
 3.1 Market Dynamics
  3.1.1 Drivers
  3.1.2 Restraints
  3.1.3 Opportunities
  3.1.4 Challenges
 3.2 Market Trend Analysis
 3.3 PESTLE Analysis
 3.4 Porter's Five Forces Analysis
 3.5 Industry Value Chain Analysis
 3.6 Ecosystem
 3.7 Regulatory Landscape
 3.8 Price Trend Analysis
 3.9 Patent Analysis
 3.10 Technology Evolution
 3.11 Investment Pockets
 3.12 Import-Export Analysis

Chapter 4: Luxury Fashion Market by Product Type
 4.1 Luxury Fashion Market Snapshot and Growth Engine
 4.2 Luxury Fashion Market Overview
 4.3 Apparel
  4.3.1 Introduction and Market Overview
  4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.3.3 Key Market Trends, Growth Factors and Opportunities
  4.3.4 Apparel: Geographic Segmentation Analysis
 4.4 Footwear
  4.4.1 Introduction and Market Overview
  4.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.4.3 Key Market Trends, Growth Factors and Opportunities
  4.4.4 Footwear: Geographic Segmentation Analysis
 4.5 Accessories
  4.5.1 Introduction and Market Overview
  4.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.5.3 Key Market Trends, Growth Factors and Opportunities
  4.5.4 Accessories: Geographic Segmentation Analysis

Chapter 5: Luxury Fashion Market by Generation
 5.1 Luxury Fashion Market Snapshot and Growth Engine
 5.2 Luxury Fashion Market Overview
 5.3 Gen X
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Gen X: Geographic Segmentation Analysis
 5.4 Millennials
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Millennials: Geographic Segmentation Analysis
 5.5 Gen Z
  5.5.1 Introduction and Market Overview
  5.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.5.3 Key Market Trends, Growth Factors and Opportunities
  5.5.4 Gen Z: Geographic Segmentation Analysis
 5.6 Baby Boomer
  5.6.1 Introduction and Market Overview
  5.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.6.3 Key Market Trends, Growth Factors and Opportunities
  5.6.4 Baby Boomer: Geographic Segmentation Analysis
 5.7 Silent Gen
  5.7.1 Introduction and Market Overview
  5.7.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.7.3 Key Market Trends, Growth Factors and Opportunities
  5.7.4 Silent Gen: Geographic Segmentation Analysis

Chapter 6: Luxury Fashion Market by Distribution Channel
 6.1 Luxury Fashion Market Snapshot and Growth Engine
 6.2 Luxury Fashion Market Overview
 6.3 Online
  6.3.1 Introduction and Market Overview
  6.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.3.3 Key Market Trends, Growth Factors and Opportunities
  6.3.4 Online: Geographic Segmentation Analysis
 6.4 Mono Brand Stores
  6.4.1 Introduction and Market Overview
  6.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.4.3 Key Market Trends, Growth Factors and Opportunities
  6.4.4 Mono Brand Stores: Geographic Segmentation Analysis
 6.5 Specialty Stores
  6.5.1 Introduction and Market Overview
  6.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.5.3 Key Market Trends, Growth Factors and Opportunities
  6.5.4 Specialty Stores: Geographic Segmentation Analysis
 6.6 Departmental Stores
  6.6.1 Introduction and Market Overview
  6.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.6.3 Key Market Trends, Growth Factors and Opportunities
  6.6.4 Departmental Stores: Geographic Segmentation Analysis
 6.7 Off-Price Stores
  6.7.1 Introduction and Market Overview
  6.7.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.7.3 Key Market Trends, Growth Factors and Opportunities
  6.7.4 Off-Price Stores: Geographic Segmentation Analysis
 6.8 Airports
  6.8.1 Introduction and Market Overview
  6.8.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.8.3 Key Market Trends, Growth Factors and Opportunities
  6.8.4 Airports: Geographic Segmentation Analysis

Chapter 7: Luxury Fashion Market by End-User
 7.1 Luxury Fashion Market Snapshot and Growth Engine
 7.2 Luxury Fashion Market Overview
 7.3 Men
  7.3.1 Introduction and Market Overview
  7.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  7.3.3 Key Market Trends, Growth Factors and Opportunities
  7.3.4 Men: Geographic Segmentation Analysis
 7.4 Women
  7.4.1 Introduction and Market Overview
  7.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  7.4.3 Key Market Trends, Growth Factors and Opportunities
  7.4.4 Women: Geographic Segmentation Analysis
 7.5 Children
  7.5.1 Introduction and Market Overview
  7.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  7.5.3 Key Market Trends, Growth Factors and Opportunities
  7.5.4 Children: Geographic Segmentation Analysis

Chapter 8: Company Profiles and Competitive Analysis
 8.1 Competitive Landscape
  8.1.1 Competitive Benchmarking
  8.1.2 Luxury Fashion Market Share by Manufacturer (2023)
  8.1.3 Industry BCG Matrix
  8.1.4 Heat Map Analysis
  8.1.5 Mergers and Acquisitions
  
 8.2 ARMANI GROUP
  8.2.1 Company Overview
  8.2.2 Key Executives
  8.2.3 Company Snapshot
  8.2.4 Role of the Company in the Market
  8.2.5 Sustainability and Social Responsibility
  8.2.6 Operating Business Segments
  8.2.7 Product Portfolio
  8.2.8 Business Performance
  8.2.9 Key Strategic Moves and Recent Developments
  8.2.10 SWOT Analysis
 8.3 BURBERRY
 8.4 CHANEL
 8.5 HERMES
 8.6 KERING
 8.7 LVMH
 8.8 CAPRI HOLDINGS
 8.9 MONCLER
 8.10 MCM
 8.11 OSKLEN
 8.12 SALVATORE FERRAGAMO
 8.13 TAPESTRY
 8.14 TOM FORD
 8.15 DOLCE & GABBANA
 8.16 HUGO BOSS
 8.17 MAX MARA GROUP PRADA GROUP
 8.18 OTHER ACTIVE PLAYERS

Chapter 9: Global Luxury Fashion Market By Region
 9.1 Overview
9.2. North America Luxury Fashion Market
  9.2.1 Key Market Trends, Growth Factors and Opportunities
  9.2.2 Top Key Companies
  9.2.3 Historic and Forecasted Market Size by Segments
  9.2.4 Historic and Forecasted Market Size By Product Type
   9.2.4.1 Apparel
   9.2.4.2 Footwear
   9.2.4.3 Accessories
  9.2.5 Historic and Forecasted Market Size By Generation
   9.2.5.1 Gen X
   9.2.5.2 Millennials
   9.2.5.3 Gen Z
   9.2.5.4 Baby Boomer
   9.2.5.5 Silent Gen
  9.2.6 Historic and Forecasted Market Size By Distribution Channel
   9.2.6.1 Online
   9.2.6.2 Mono Brand Stores
   9.2.6.3 Specialty Stores
   9.2.6.4 Departmental Stores
   9.2.6.5 Off-Price Stores
   9.2.6.6 Airports
  9.2.7 Historic and Forecasted Market Size By End-User
   9.2.7.1 Men
   9.2.7.2 Women
   9.2.7.3 Children
  9.2.8 Historic and Forecast Market Size by Country
   9.2.8.1 US
   9.2.8.2 Canada
   9.2.8.3 Mexico
9.3. Eastern Europe Luxury Fashion Market
  9.3.1 Key Market Trends, Growth Factors and Opportunities
  9.3.2 Top Key Companies
  9.3.3 Historic and Forecasted Market Size by Segments
  9.3.4 Historic and Forecasted Market Size By Product Type
   9.3.4.1 Apparel
   9.3.4.2 Footwear
   9.3.4.3 Accessories
  9.3.5 Historic and Forecasted Market Size By Generation
   9.3.5.1 Gen X
   9.3.5.2 Millennials
   9.3.5.3 Gen Z
   9.3.5.4 Baby Boomer
   9.3.5.5 Silent Gen
  9.3.6 Historic and Forecasted Market Size By Distribution Channel
   9.3.6.1 Online
   9.3.6.2 Mono Brand Stores
   9.3.6.3 Specialty Stores
   9.3.6.4 Departmental Stores
   9.3.6.5 Off-Price Stores
   9.3.6.6 Airports
  9.3.7 Historic and Forecasted Market Size By End-User
   9.3.7.1 Men
   9.3.7.2 Women
   9.3.7.3 Children
  9.3.8 Historic and Forecast Market Size by Country
   9.3.8.1 Bulgaria
   9.3.8.2 The Czech Republic
   9.3.8.3 Hungary
   9.3.8.4 Poland
   9.3.8.5 Romania
   9.3.8.6 Rest of Eastern Europe
9.4. Western Europe Luxury Fashion Market
  9.4.1 Key Market Trends, Growth Factors and Opportunities
  9.4.2 Top Key Companies
  9.4.3 Historic and Forecasted Market Size by Segments
  9.4.4 Historic and Forecasted Market Size By Product Type
   9.4.4.1 Apparel
   9.4.4.2 Footwear
   9.4.4.3 Accessories
  9.4.5 Historic and Forecasted Market Size By Generation
   9.4.5.1 Gen X
   9.4.5.2 Millennials
   9.4.5.3 Gen Z
   9.4.5.4 Baby Boomer
   9.4.5.5 Silent Gen
  9.4.6 Historic and Forecasted Market Size By Distribution Channel
   9.4.6.1 Online
   9.4.6.2 Mono Brand Stores
   9.4.6.3 Specialty Stores
   9.4.6.4 Departmental Stores
   9.4.6.5 Off-Price Stores
   9.4.6.6 Airports
  9.4.7 Historic and Forecasted Market Size By End-User
   9.4.7.1 Men
   9.4.7.2 Women
   9.4.7.3 Children
  9.4.8 Historic and Forecast Market Size by Country
   9.4.8.1 Germany
   9.4.8.2 UK
   9.4.8.3 France
   9.4.8.4 Netherlands
   9.4.8.5 Italy
   9.4.8.6 Russia
   9.4.8.7 Spain
   9.4.8.8 Rest of Western Europe
9.5. Asia Pacific Luxury Fashion Market
  9.5.1 Key Market Trends, Growth Factors and Opportunities
  9.5.2 Top Key Companies
  9.5.3 Historic and Forecasted Market Size by Segments
  9.5.4 Historic and Forecasted Market Size By Product Type
   9.5.4.1 Apparel
   9.5.4.2 Footwear
   9.5.4.3 Accessories
  9.5.5 Historic and Forecasted Market Size By Generation
   9.5.5.1 Gen X
   9.5.5.2 Millennials
   9.5.5.3 Gen Z
   9.5.5.4 Baby Boomer
   9.5.5.5 Silent Gen
  9.5.6 Historic and Forecasted Market Size By Distribution Channel
   9.5.6.1 Online
   9.5.6.2 Mono Brand Stores
   9.5.6.3 Specialty Stores
   9.5.6.4 Departmental Stores
   9.5.6.5 Off-Price Stores
   9.5.6.6 Airports
  9.5.7 Historic and Forecasted Market Size By End-User
   9.5.7.1 Men
   9.5.7.2 Women
   9.5.7.3 Children
  9.5.8 Historic and Forecast Market Size by Country
   9.5.8.1 China
   9.5.8.2 India
   9.5.8.3 Japan
   9.5.8.4 South Korea
   9.5.8.5 Malaysia
   9.5.8.6 Thailand
   9.5.8.7 Vietnam
   9.5.8.8 The Philippines
   9.5.8.9 Australia
   9.5.8.10 New Zealand
   9.5.8.11 Rest of APAC
9.6. Middle East & Africa Luxury Fashion Market
  9.6.1 Key Market Trends, Growth Factors and Opportunities
  9.6.2 Top Key Companies
  9.6.3 Historic and Forecasted Market Size by Segments
  9.6.4 Historic and Forecasted Market Size By Product Type
   9.6.4.1 Apparel
   9.6.4.2 Footwear
   9.6.4.3 Accessories
  9.6.5 Historic and Forecasted Market Size By Generation
   9.6.5.1 Gen X
   9.6.5.2 Millennials
   9.6.5.3 Gen Z
   9.6.5.4 Baby Boomer
   9.6.5.5 Silent Gen
  9.6.6 Historic and Forecasted Market Size By Distribution Channel
   9.6.6.1 Online
   9.6.6.2 Mono Brand Stores
   9.6.6.3 Specialty Stores
   9.6.6.4 Departmental Stores
   9.6.6.5 Off-Price Stores
   9.6.6.6 Airports
  9.6.7 Historic and Forecasted Market Size By End-User
   9.6.7.1 Men
   9.6.7.2 Women
   9.6.7.3 Children
  9.6.8 Historic and Forecast Market Size by Country
   9.6.8.1 Turkey
   9.6.8.2 Bahrain
   9.6.8.3 Kuwait
   9.6.8.4 Saudi Arabia
   9.6.8.5 Qatar
   9.6.8.6 UAE
   9.6.8.7 Israel
   9.6.8.8 South Africa
9.7. South America Luxury Fashion Market
  9.7.1 Key Market Trends, Growth Factors and Opportunities
  9.7.2 Top Key Companies
  9.7.3 Historic and Forecasted Market Size by Segments
  9.7.4 Historic and Forecasted Market Size By Product Type
   9.7.4.1 Apparel
   9.7.4.2 Footwear
   9.7.4.3 Accessories
  9.7.5 Historic and Forecasted Market Size By Generation
   9.7.5.1 Gen X
   9.7.5.2 Millennials
   9.7.5.3 Gen Z
   9.7.5.4 Baby Boomer
   9.7.5.5 Silent Gen
  9.7.6 Historic and Forecasted Market Size By Distribution Channel
   9.7.6.1 Online
   9.7.6.2 Mono Brand Stores
   9.7.6.3 Specialty Stores
   9.7.6.4 Departmental Stores
   9.7.6.5 Off-Price Stores
   9.7.6.6 Airports
  9.7.7 Historic and Forecasted Market Size By End-User
   9.7.7.1 Men
   9.7.7.2 Women
   9.7.7.3 Children
  9.7.8 Historic and Forecast Market Size by Country
   9.7.8.1 Brazil
   9.7.8.2 Argentina
   9.7.8.3 Rest of SA

Chapter 10 Analyst Viewpoint and Conclusion
10.1 Recommendations and Concluding Analysis
10.2 Potential Market Strategies

Chapter 11 Research Methodology
11.1 Research Process
11.2 Primary Research
11.3 Secondary Research
 

Global Luxury Fashion Market

Base Year:

2023

Forecast Period:

2024-2032

Historical Data:

2017 to 2023

Market Size in 2024:

USD 129.77 Bn.

Forecast Period 2024-32 CAGR:

5.46%

Market Size in 2032:

USD 209.39 Bn.

Segments Covered:

By Product Type

  • Apparel
  • Footwear
  • Accessories

By Generation

  • Gen X
  • Millennials and Gen Z
  • Baby Boomer and Silent Gen

By Distribution Channel

  • Online
  • Mono Brand Stores
  • Specialty Stores
  • Departmental Stores
  • Off-Price Stores
  • Airports

By End-User

  • Men
  • Women
  • Children

By Region

  • North America (U.S., Canada, Mexico)
  • Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
  • Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
  • Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
  • South America (Brazil, Argentina, Rest of SA)

Key Market Drivers:

  • Increasing Acceptance by Millennials and Generation Z

Key Market Restraints:

  • Availability of Second-hand Luxury Products

Key Opportunities:

  • Leveraging Augmented Reality

Companies Covered in the report:

  • Armani Group, Burberry, Chanel, Hermes, Kering, LVMH, Capri Holdings, Moncler, MCM, OSKLEN, Salvatore Ferragamo, Tapestry, Tom Ford, Dolce & Gabbana, Hugo Boss, Max Mara Group Prada Group and Other Major Players.
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Frequently Asked Questions :

What would be the forecast period in the Luxury Fashion Market research report?

The forecast period in the Luxury Fashion Market research report is 2024-2032.

Who are the key players in the Luxury Fashion Market?

Armani Group, Burberry, Chanel, Hermes, Kering, LVMH, Capri Holdings, Moncler, MCM, OSKLEN, Salvatore Ferragamo, Tapestry, Tom Ford, Dolce & Gabbana, Hugo Boss, Max Mara Group Prada Group and Other Major Players.

What are the segments of the Luxury Fashion Market?

The Luxury Fashion Market is segmented into Product Type, Generation, Distribution Channel, By End-User, and region. By Product Type, the market is categorized into Apparel, Footwear, and Accessories. By Generation, the market is categorized into Gen X, Millennials and Gen Z and Baby Boomer and Silent Gen. By Distribution Channel, the market is categorized into Online, Mono Brand Stores, Specialty Stores, Departmental Stores, Off-Price Stores, and Airports. By End-User, the market is categorized into Men, Women, and Children. By region, it is analyzed across North America (U.S.; Canada; Mexico), Europe (Germany; U.K.; France; Italy; Russia; Spain, etc.), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).

What is the Luxury Fashion Market?

The section of the fashion industry that specializes in upscale, premium-priced apparel, accessories and footwear is known as the luxury fashion market. It serves wealthy customers who value exclusivity, fine craftsmanship, and quality in their wardrobe selections. Luxurious fashion labels are renowned for their inventive designs, illustrious past, and premium materials. Due to their perceived value and strong brand equity, these companies frequently establish trends rather than following them, and they can command higher pricing. To retain exclusivity and appeal to a sophisticated audience, the market is distinguished by its exclusive distribution, limited manufacturing runs, and significant emphasis on brand image and storytelling. As a result, the market for luxury fashion has a big impact on consumer behavior in a variety of socioeconomic groups as well as setting global fashion trends.

How big is the Luxury Fashion Market?

Luxury Fashion Market Size Was Valued at USD 129.77 Billion in 2023 and is Projected to Reach USD 209.39 Billion by 2032, Growing at a CAGR of 5.46% From 2024-2032.