Luxury Retailing Market Size, Trends and Analysis by Regional and Category Performance, Brands and Forecast to 2029
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Global Luxury Retailing 2019-2029 provides analysis, trends, market forecasts, and brands in the global luxury retail market between 2019-2029
Scope
Growth of global luxury slows amid declining consumer confidence and rising economic uncertainties
Luxury market in APAC dominates but growth stalls; Americas shows robust growth driven by increasing tourism and store openings
Demand for LVMH declines despite strong growth momentum for its selective retailing business unit (Sephora, DFS, and Le Bon Marché)
Key Highlights
After a strong boost in luxury sales during 2023, the global luxury market saw a decline of 2.7% to reach $462.3 billion in 2024 due to a loss in consumer confidence caused by rising economic uncertainty and the resulting shift in consumer spending towards essentials.
Despite a decrease in regional market share from 36.3% in 2019 to 34.8% in 2024, the Asia-Pacific region remains the dominant force in the global luxury market. This area boasts a significant number of young, affluent consumers and an increase in tourist arrivals.
LVMH continues to dominate the global luxury market in 2024, securing a 24.3% share of the global luxury market despite a sales decline of 3.6% caused by a dampened demand for its fashion and leather goods.
Reasons to Buy
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Analysis of key luxury retail players operating globally
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Analysis of key international players operating in global luxury retail market — including market shares and revenues that give you a competitive edge and identify opportunities to improve your strategy
Chanel
Kering
Richemont
Hermès
Swatch
Prada
Giorgio Armani
Capri Holdings
Burberry
Coach (Tapestry)
Giorgio Armani
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