Asia-Pacific (APAC) Luxury Retail Market Size, Trends, Regional and Category Performance, Brands and Forecast to 2027

Powered by

All the vital news, analysis, and commentary curated by our industry experts.

APAC Luxury Retail Market Overview

The APAC luxury retail market was valued at $145.7 billion in 2022. The market is forecast to witness significant growth at a compound annual growth rate (CAGR) of more than 7% between 2022 and 2027, driven by rising income levels, especially in major markets such as China, Japan, and South Korea.

APAC Luxury Retail Market Outlook 2022-2027 ($ Billion)

APAC Luxury Retail Market Outlook 2022-2027 ($ Billion)

Buy the Full Report for More Insights into The APAC Luxury Retail Market Forecast, Download a Free Report Sample

The APAC luxury retail market research report provides a comprehensive understanding of the revenue growth through its market size forecasting up to 2027 and a historical overview of the region’s luxury retail market. It further gives a deep-dive analysis of the industry, including the regional demand outlook. The report also covers market trends, consumer insights, and key players.

Market Size (2022) $145.7 billion
CAGR (2022-2027) >7%
Key Categories ·       Clothing

·       Jewelry & Watches

·       Accessories

·       Personal Care

·       Drinks

·       Luggage

Key Countries ·       China

·       Japan

·       South Korea

·       Hong Kong

·       Australia

·       India

·       Thailand

·       Singapore

Leading Players ·       LVMH

·       Richemont

·       Kering

·       Chanel

·       Swatch

Enquire and Decide Discover the perfect solution for your business needs. Enquire now and let us help you make an informed decision before making a purchase.

APAC Luxury Retail Market Drivers

Asia has a large youth population between the ages of 15 to 24, accounting for over 60% of the youth in the world.  These youngsters are often aspirational and seek to indulge in the luxury goods sported by their favorite celebs and influencers, thus driving demand for the luxury market. Additionally, the region is witnessing a surge in the number of high-net-worth individuals, especially in China and India. For this reason, global luxury brands are expanding their presence to capitalize on the region’s potential for growth. For instance, China’s repealing of COVID-19 restrictions saw existing brands such as Chanel announce expansion while new luxury houses such as By Far opened flagship stores. Similarly, Valentino and Balenciaga announced plans to enter India in partnership with Reliance Brands.

Additionally, luxury brands have pivoted to digital channels to spur brand visibility through compelling online narratives. They are integrating their online and offline channels to provide immersive shopping experiences by developing mobile apps and optimizing websites for seamless transactions. This drive towards an omnichannel presence has been led by the surge in online shopping.

APAC Luxury Retail Market Segmentation by Countries

The key countries in the APAC luxury retail market are China, Japan, South Korea, Hong Kong, Australia, India, Thailand, and Singapore. China remains the largest market in the APAC luxury retail market in 2022. China’s reopening after the rollback of COVID-19 related restrictions has revived sales in 2022, led by its affluent youth population who increasingly enjoy indulging in luxury goods.

Meanwhile, India will be the fastest-growing market for luxury retailing in the region. Luxury brands such as Cartier, Louis Vuitton, and Gucci are taking notice of the opportunities offered by the country’s rising wealthy population and have signed on leading Indian actors to be brand ambassadors.

APAC Luxury Retail Market Analysis, by Countries 2022 (%)

APAC Luxury Retail Market Analysis, by Countries 2022 (%)

Buy the Full Report for More Information on The APAC Luxury Retail Market Segments, Download a Free Report Sample

APAC Luxury Retail Market Segmentation by Category

The APAC luxury retail market is categorized into clothing, jewelry & watches, accessories, personal care, drinks, and luggage among others. The clothing was the largest category in the APAC luxury retail market in 2022, followed by jewelry & watches, and accessories.

APAC Luxury Retail Market Analysis, by Category 2022 (%)

APAC Luxury Retail Market Analysis, by Category 2022 (%)

Buy the Full Report for More Information on The APAC Luxury Retail Market Segments, Download a Free Report Sample

APAC Luxury Retail Market - Competitive Landscape

The leading players in the APAC luxury retail market are LVMH, Richemont, Kering, Chanel, and Swatch among others. LVMH’s revenue improved during 2021-2022, solidifying its position as the largest brand in Asia-Pacific’s luxury retail market. Asia remains LVMH’s major market, while fashion & leather goods are the most sold category for the luxury house.

APAC Luxury Retail Market Analysis, by Brands 2022(%)

APAC Luxury Retail Market Analysis, by Brands 2022(%)

Buy the Full Report for More Information on The APAC Luxury Retail Market Brands, Download a Free Report Sample

APAC Luxury Retail Market Segmentation

APAC Luxury Retail Market Outlook by Category (Value, $ Billion, 2022-2027)

  • Clothing
  • Jewelry & Watches
  • Accessories
  • Personal Care
  • Drinks
  • Luggage

APAC Luxury Retail Market Outlook by Countries (Value, $ Billion, 2022-2027)

  • China
  • Japan
  • South Korea
  • Hong Kong
  • Australia
  • India
  • Thailand
  • Singapore

Key Highlights

  • Gain a comprehensive knowledge of the APAC Luxury retail market and develop a competitive advantage
  • Investigate current trends in the APAC luxury retail market to identify the best opportunities to exploit
  • Analysis of key luxury retail players operating in APAC
  • Explore novel opportunities that will allow you to align your product offerings and strategies to meet demand by analyzing the key consumer and technology trends influencing the luxury fashion market in the APAC region

Reasons to Buy

The report will help:

  • Gain a comprehensive understanding of the APAC Luxury retail market and insight into the competitive landscape of the market.
  • Identify market trends in the APAC luxury retail market.
  • Analyze the leading luxury retail players operating in the APAC.
  • Explore opportunities to align product offerings and strategies accordingly.

LVMH
Richemont
Kering
Chanel
Swatch
Hermes
Giorgio Armani,Coach
Prada
Burberry

Table of Contents

Executive Summary, Drivers and Inhibitors, Key Trends in the Luxury Retail Market, APAC Market Size & Forecasts 2017–2027, Regional Performance & Forecasts 2017-2027, Category Performance & Forecasts 2017-2027, Competitive Landscape: Top 10 Brands, Competitive Landscape: Brand Profiles, Methodology

Frequently asked questions

Asia-Pacific (APAC) Luxury Retail Market Size, Trends, Regional and Category Performance, Brands and Forecast to 2027 thematic reports
Currency USD
$4,950

Can be used by individual purchaser only

$14,850

Can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company


Undecided about purchasing this report?

Enquire Before Buying Request a Free Sample

Get in touch to find out about multi-purchase discounts

reportstore@globaldata.com
Tel +44 20 7947 2745

Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.

Sample Report

Asia-Pacific (APAC) Luxury Retail Market Size, Trends, Regional and Category Performance, Brands and Forecast to 2027 was curated by the best experts in the industry and we are confident about its unique quality. However, we want you to make the most beneficial decision for your business, so we offer free sample pages to help you:

  • Assess the relevance of the report
  • Evaluate the quality of the report
  • Justify the cost

Download your copy of the sample report and make an informed decision about whether the full report will provide you with the insights and information you need.

Below is a sample report to understand what you are buying

See what our customers are saying

“The GlobalData platform is our go-to tool for intelligence services. GlobalData provides an easy way to access comprehensive intelligence data around multiple sectors, which essentially makes it a one-for-all intelligence platform, for tendering and approaching customers.

GlobalData is very customer orientated, with a high degree of personalised services, which benefits everyday use. The highly detailed project intelligence and forecast reports can be utilised across multiple departments and workflow scopes, from operational to strategic level, and often support strategic decisions. GlobalData Analytics and visualisation solutions has contributed positively when preparing management presentations and strategic papers.”

Business Intelligence & Marketing Manager, SAL Heavy Lift

“COVID-19 has caused significant interference to our business and the COVID-19 intelligence from GlobalData has helped us reach better decisions around strategy. These two highlights have helped enormously to understand the projections into the future concerning our business units, we also utilise the project database to source new projects for Liebherr-Werk to use as an additional source to pitch for new business.”

Market Analyst & Management, Liebherr-Werk

Your daily news has saved me a lot of time and keeps me up-to-date with what is happening in the market, I like that you almost always have a link to the source origin. We also use your market data in our Strategic Business Process to support our business decisions. By having everything in one place on the Intelligence Center it has saved me a lot of time versus looking on different sources, the alert function also helps with this.

Head of Key Accounts, Saab AB

Having used several other market research companies, I find that GlobalData manages to provide that ‘difficult-to-get’ market data that others can’t, as well as very diverse and complete consumer surveys.

Marketing Intelligence Manager, Portugal Foods

Our experience with GlobalData has been very good, from the platform itself to the people. I find that the analysts and the account team have a high level of customer focus and responsiveness and therefore I can always rely on. The platform is more holistic than other providers. It is convenient and almost like a one stop shop. The pricing suite is highly competitive and value for our organisation.

I like reports that inform new segments such as the analysis on generation Z, millennials, the impact of COVID 19 to our banking customers and their new channel habits. Secondly the specialist insight on affluent sector significantly increases our understanding about this group of customers. The combination of those give us depth and breadth of the evolving market.

I’m in the business of answering and helping people make decisions so with the intelligence center I can do that, effectively and efficiently. I can share quickly key insights that answer and satisfy our country stakeholders by giving them many quality studies and primary research about competitive landscape beyond the outlook of our bank. It helps me be seen as an advisory partner and that makes a big difference. A big benefit of our subscription is that no one holds the whole data and because it allows so many people, so many different parts of our organisation have access, it enables all teams to have the same level of knowledge and decision support.

Head of Customer Insight and Research, Standard Chartered

“I know that I can always rely on Globaldata’s work when I’m searching for the right consumer and market insights. I use Globaldata insights to understand the changing market & consumer landscape and help create better taste & wellbeing solutions for our customers in food, beverage and healthcare industries.

Globaldata has the right data and the reports are of very high quality compared to your competitors. Globaldata not only has overall market sizes & consumer insights on food & beverages but also provides insights at the ingredient & flavour level. That is key for B2B companies like Givaudan. This way we understand our customers’ business and also gain insight to our unique industry”

Head of Consumer Sensory Insights, Givaudan

GlobalData provides a great range of information and reports on various sectors that is highly relevant, timely, easy to access and utilise.  The reports and data dashboards help engagement with clients; they provide valuable industry and market insights that can enrich client conversations and can help in the shaping of value propositions. Moreover, using GlobalData products has helped increase my knowledge of the finance sector, the players within it, and the general threats and opportunities.

I find the consumer surveys that are carried out to be extremely beneficial and not something I have seen anywhere else. They provided an insightful view of why and which consumers take (or don’t) particular financial products. This can help shape conversations with clients to ensure they make the right strategic decisions for their business.

One of the challenges I have found is that data in the payments space is often piecemeal. With GD all of the data I need is in one place, but it also comes with additional market reports that provide useful extra context and information. Having the ability to set-up alerts on relevant movements in the industry, be it competitors or customers, and have them emailed directly to me, ensures I get early sight of industry activity and don’t have to search for news.

Senior Account Manager, TSYS
Go even deeper with GlobalData Intelligence Center

Every Company Report we produce is powered by the GlobalData Intelligence Center.

Subscribing to our intelligence platform means you can monitor developments at Asia-Pacific (APAC) Luxury Retail Market Size, Trends, Regional and Category Performance, Brands and Forecast to 2027 in real time.

  • Access a live Asia-Pacific (APAC) Luxury Retail Market Size, Trends, Regional and Category Performance, Brands and Forecast to 2027 dashboard for 12 months, with up-to-the-minute insights.
  • Fuel your decision making with real-time deal coverage and media activity.
  • Turn insights on financials, deals, products and pipelines into powerful agents of commercial advantage.