Luxury Fashion Market - Global Outlook & Forecast 2021-2026

Luxury Fashion Market - Global Outlook & Forecast 2021-2026

In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Luxury Fashion Market Report

The luxury fashion market size was valued at USD 110.64 billion in 2020 and is expected to reach USD 153.97 billion by 2026 growing at a CAGR of 5.66%.

The online sales of luxury fashion are expected to witness tremendous growth during the forecast period. The global luxury fashion industry is gaining momentum significantly with the rise in the number of high-net-worth individuals, the growing popularity among the young population belonging to the millennials and Gen Z generation, increasing brand loyalty among customers, and increasing association of luxury brands by the individuals. The rapidly changing technological landscape and the growing adoption of technology such as augmented reality (AR) by the fashion industry, supported by the growing penetration of digital channels across developing markets, provide new growth opportunities to vendors.

The following factors are likely to contribute to the growth of the luxury fashion market

  • Leveraging augmented reality
  • Growing inclination towards sustainable products
  • Internet shaping purchasing behaviour
  • Increasing acceptance by millennials & Gen Z population
  • Growing high net worth individuals
  • Growth in travel & tourism
KEY HIGHLIGHTS
  • Millennials and the Gen Z population are the key drivers of the luxury fashion industry.This can be attributed to their higher focus on experiences, willingness to pay extra for premium products, and openness to experimentation with new things.
  • Psycho-graphical and demographical indicators of end-users have changed drastically over the past few years. Factors such as increased internet penetration, strong smartphone adoption, and rising social media users have provided end-users with unmatched access to information on the go, thus helping end-users make informed purchasing decisions.
LUXURY FASHION MARKET SEGMENTATION

The luxury fashion market report has the following segments-
  • Product type
  • End-User
  • Generation
  • Distribution channel
  • Geography
LUXURY FASHION MARKET SEGMENTS
  • In 2020, luxury apparel accounted for a large share in the luxury fashion industry. This is attributed to the Millennials and Gen Z population, who are highly driven by the latest fashion trends compared to any other age group.
  • In 2020, men accounted for the highest share in the luxury fashion market. In the past decade, the men’s luxury segment has grown significantly due to increased expenditure on R&D and new product development. The online sales of men’s luxury fashion products are witnessing continuous growth with the increasing trust in online channels, improvement in logistics, and the brands offering more personalized experiences to the customers.
Market Segmentation by Product Type
  • Apparel
  • Footwear
  • Accessories
Market Segmentation by End-User
  • Men
  • Women
  • Children
Market Segmentation by Generation
  • Gen X
  • Millennials & Gen Z
  • Baby Boomer & Silent Gen
Market Segmentation by Distribution Channel
  • Online
  • Mono Brand Stores
  • Specialty Stores
  • Departmental Stores
  • Off-Price Stores
  • Airports
GEOGRAPHICAL ANALYSIS
  • APAC: The APAC region is expected to see exponential growth in the luxury fashion market year on year. This can be attributed to the continuous rise in the number of billionaires across the region who have more purchasing power than the normal population. From January to October 2020, the APAC region witnessed the highest share in the opening of luxury stores as compared to other regions.
Market Segmentation by Geography
  • APAC
  • China
  • Japan
  • India
  • South Korea
  • Rest of APAC
  • Europe
  • Germany
  • France
  • UK
  • Italy
  • Rest of Europe
  • North America
  • US
  • Canada
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Rest of MEA
  • Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
VENDOR ANALYSIS
  • The key vendors in the luxury fashion industry are Armani Group, Burberry, Chanel, Hermes, Kering, LVMH, and Prada Group.
Key Vendors
  • Armani Group
  • Burberry
  • Chanel
  • Hermes
  • Kering
  • LVMH
  • Prada Group
Other Prominent Vendors
  • Capri Holdings
  • Dolce & Gabbana
  • Hugo Boss
  • Max Mara Group
  • MCM
  • Moncler
  • Osklen
  • Salvatore Ferragamo
  • Tapestry
  • Tom Ford
  • Valentino
  • Zegna
KEY QUESTIONS ANSWERED:

1. How big is the luxury fashion market?

2. Who are the end-users in the luxury apparel industry?

3. Who are the key players in the luxury fashion industry?

4. What are the factors driving the luxury fashion industry?

5. Which region accounted for the largest share in the luxury fashion market?


1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.01.01 Inclusions
4.01.02 Exclusions
4.01.03 Market Estimation Caveats
4.2 Base Year
4.3 Scope Of The Study
4.03.01 Market Segmentation By Product Type
4.03.02 Market Segmentation By End User
4.03.03 Market Segmentation By Generation
4.03.04 Market Segmentation By Distribution Channel
4.03.05 Market Segmentation By Geography
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market at a Glance
7 Introduction
7.1 Overview
7.01.01 Sustainable Products: A Key Focus
7.01.02 High Net Worth Forecasts Providing Growth Opportunities
7.2 Influencer Role In Luxury Fashion
7.3 Value Chain Analysis
7.03.01 Raw Material And Suppliers
7.03.02 Distribution
7.03.03 Marketing & Sales
7.03.04 Service
7.4 Impact Of Covid-19
7.04.01 Supply Side
7.04.02 Demand Side
8 Market Opportunities & Trends
8.1 Leveraging Augmented Reality
8.2 Growing Inclination Toward Sustainability
8.3 Internet Shaping Purchasing Behavior
9 Market Growth Enablers
9.1 Increasing Acceptance By Millennials & Generation Z
9.2 Growing Population Of High-Net-Worth Individuals
9.3 Rise In Travel & Tourism
10 Market Restraints
10.1 Proliferation Of Counterfeit Products
10.2 Availability Of Secondhand Luxury Products
11 Market Landscape
11.1 Market Overview
11.2 Digitalization Supporting Luxury Market
11.3 Demand Insights
11.4 Market Size & Forecast
11.5 Five Forces Analysis
11.05.01 Threat Of New Entrants
11.05.02 Bargaining Power Of Suppliers
11.05.03 Bargaining Power Of Buyers
11.05.04 Threat Of Substitutes
11.05.05 Competitive Rivalry
12 Product Type
12.1 Market Snapshot & Growth Engine
12.2 Market Overview
12.3 Apparel
12.03.01 Market Overview
12.03.02 Market Size & Forecast
12.03.03 Market By Geography
12.4 Footwear
12.04.01 Market Overview
12.04.02 Market Size & Forecast
12.04.03 Market By Geography
12.5 Accessories
12.05.01 Market Overview
12.05.02 Market Size & Forecast
12.05.03 Market By Geography
13 End User
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
13.3 Men
13.03.01 Market Overview
13.03.02 Market Size & Forecast
13.03.03 Market By Geography
13.4 Women
13.04.01 Market Overview
13.04.02 Market Size & Forecast
13.04.03 Market By Geography
13.5 Children
13.05.01 Market Overview
13.05.02 Market Size & Forecast
13.05.03 Market By Geography
14 Generational Cohort
14.1 Market Snapshot & Growth Engine
14.2 Market Overview
14.3 Generation X
14.03.01 Market Overview
14.03.02 Market Size & Forecast
14.03.03 Market By Geography
14.4 Millennial & Generation Z
14.04.01 Market Overview
14.04.02 Market Size & Forecast
14.04.03 Market By Geography
14.5 Baby Boomer & Silent Generation
14.05.01 Market Overview
14.05.02 Market Size & Forecast
14.05.03 Market By Geography
15 Distribution Channel
15.1 Market Snapshot & Growth Engine
15.2 Market Overview
15.3 Online Stores
15.03.01 Market Overview
15.03.02 Direct Sales
15.03.03 Third-Party Sales
15.03.04 Market Size & Forecast
15.03.05 Market By Geography
15.4 Mono-Brand Stores
15.04.01 Market Overview
15.04.02 Market Size & Forecast
15.04.03 Market By Geography
15.5 Specialty Stores
15.05.01 Market Overview
15.05.02 Market Size & Forecast
15.05.03 Market By Geography
15.6 Departmental Stores
15.06.01 Market Overview
15.06.02 Market Size & Forecast
15.06.03 Market By Geography
15.7 Off-Price Stores
15.07.01 Market Overview
15.07.02 Market Size & Forecast
15.07.03 Market By Geography
15.8 Airport Shops
15.08.01 Market Overview
15.08.02 Market Size & Forecast
15.08.03 Market By Geography
16 Geography
16.1 Market Snapshot & Growth Engine
16.2 Geographic Overview
17 APAC
17.1 Market Overview
17.2 Market Size & Forecast
17.3 Product Type
17.03.01 Market Size & Forecast
17.4 End User
17.04.01 Market Size & Forecast
17.5 Generational Cohort
17.05.01 Market Size & Forecast
17.6 Distribution Channel
17.06.01 Market Size & Forecast
17.7 Key Countries
17.07.01 China: Market Size & Forecast
17.07.02 Japan: Market Size & Forecast
17.07.03 India: Market Size & Forecast
17.07.04 South Korea: Market Size & Forecast
17.07.05 Rest Of APAC: Market Size & Forecast
18 Europe
18.1 Market Overview
18.01.01 Western Europe
18.01.02 Eastern Europe
18.2 Market Size & Forecast
18.3 Product Type
18.03.01 Market Size & Forecast
18.4 End User
18.04.01 Market Size & Forecast
18.5 Generational Cohort
18.05.01 Market Size & Forecast
18.6 Distribution Channel
18.06.01 Market Size & Forecast
18.7 Key Countries
18.07.01 Germany: Market Size & Forecast
18.07.02 France: Market Size & Forecast
18.07.03 UK: Market Size & Forecast
18.07.04 Italy: Market Size & Forecast
18.07.05 Rest Of Europe: Market Size & Forecast
19 North America
19.1 Market Overview
19.2 Market Size & Forecast
19.3 Product Type
19.03.01 Market Size & Forecast
19.4 End User
19.04.01 Market Size & Forecast
19.5 Generational Cohort
19.05.01 Market Size & Forecast
19.6 Distribution Channel
19.06.01 Market Size & Forecast
19.7 Key Countries
19.07.01 US: Market Size & Forecast
19.07.02 Canada: Market Size & Forecast
20 Middle East & Africa
20.1 Market Overview
20.2 Market Size & Forecast
20.3 Product Type
20.03.01 Market Size & Forecast
20.4 End User
20.04.01 Market Size & Forecast
20.5 Generational Cohort
20.05.01 Market Size & Forecast
20.6 Distribution Channel
20.06.01 Market Size & Forecast
20.7 Key Countries
20.07.01 UAE: Market Size & Forecast
20.07.02 Saudi Arabia: Market Size & Forecast
20.07.03 Rest Of MEA: Market Size & Forecast
21 Latin America
21.1 Market Overview
21.2 Market Size & Forecast
21.3 Product Type
21.03.01 Market Size & Forecast
21.4 End User
21.04.01 Market Size & Forecast
21.5 Generational Cohort
21.05.01 Market Size & Forecast
21.6 Distribution Channel
21.06.01 Market Size & Forecast
21.7 Key Countries
21.07.01 Brazil: Market Size & Forecast
21.07.02 Mexico: Market Size & Forecast
21.07.03 Rest Of Latin America: Market Size & Forecast
22 Competitive Landscape
22.1 Competition Overview
23 Key Company Profiles
23.1 ARMANI Group
23.01.01 Business Overview
23.01.02 Product Offerings
23.01.03 Key Strategies
23.01.04 Key Strengths
23.01.05 Key Opportunities
23.2 BURBERRY
23.02.01 Business Overview
23.02.02 Product Offerings
23.02.03 Key Strategies
23.02.04 Key Strengths
23.02.05 Key Opportunities
23.3 CHANEL
23.03.01 Business Overview
23.03.02 Product Offerings
23.03.03 Key Strategies
23.03.04 Key Strengths
23.03.05 Key Opportunities
23.4 HERMES
23.04.01 Business Overview
23.04.02 Product Offerings
23.04.03 Key Strategies
23.04.04 Key Strengths
23.04.05 Key Opportunities
23.5 KERING
23.05.01 Kering: Business Overview
23.05.02 GUCCI: Business Overview
23.05.03 Balenciaga: Business Overview
23.05.04 Bottega Veneta: Business Overview
23.05.05 Product Offerings
23.05.06 Key Strategies
23.05.07 Key Strengths
23.05.08 Key Opportunities
23.6 LVMH
23.06.01 Business Overview
23.06.02 Product Offerings
23.06.03 Key Strategies
23.06.04 Key Strengths
23.06.05 Key Opportunities
23.7 PRADA GROUP
23.07.01 Business Overview
23.07.02 Product Offerings
23.07.03 Key Strategies
23.07.04 Key Strengths
23.07.05 Key Opportunities
24 Other Prominent Vendors
24.1 CAPRI HOLDINGS
24.01.01 Business Overview
24.01.02 Product Offerings
24.2 DOLCE & GABBANA
24.02.01 Business Overview
24.02.02 Product Offerings
24.3 HUGO BOSS
24.03.01 Business Overview
24.03.02 Product Offerings
24.4 MAX MARA GROUP
24.04.01 Business Overview
24.04.02 Product Offerings
24.5 MCM
24.05.01 Business Overview
24.05.02 Product Offerings
24.6 MONCLER
24.06.01 Business Overview
24.06.02 Product Offerings
24.7 OSKLEN
24.07.01 Business Overview
24.07.02 Product Offerings
24.8 SALVATORE FERRAGAMO
24.08.01 Business Overview
24.08.02 Product Offerings
24.9 TAPESTRY
24.09.01 Business Overview
24.09.02 Product Offerings
24.10 TOM FORD
24.10.01 Business Overview
24.10.02 Product Offerings
24.11 VALENTINO
24.11.01 Business Overview
24.11.02 Product Offerings
24.12 ZEGNA
24.12.01 Business Overview
24.12.02 Product Offerings
25 Recent Developments
25.1 Merger, Acquisition & Partnerships
25.2 New Product Launches
26 Report Summary
26.1 Key Takeaways
26.2 Strategic Recommendations
27 Quantitative Summary
27.1 Market By Geography
27.01.01 Market Size & Forecast (Value)
27.01.02 Market size & Forecast (% Revenue)
27.2 APAC
27.02.01 Product Type: Market Size & Forecast
27.02.02 End User: Market Size & Forecast
27.02.03 Generational Cohort: Market Size & Forecast
27.02.04 Distribution Channel: Market Size & Forecast
27.3 EUROPE
27.03.01 Product Type: Market Size & Forecast
27.03.02 End User: Market Size & Forecast
27.03.03 Generational Cohort: Market Size & Forecast
27.03.04 Distribution Channel: Market Size & Forecast
27.4 NORTH AMERICA
27.04.01 Product Type: Market Size & Forecast
27.04.02 End User: Market Size & Forecast
27.04.03 Generational Cohort: Market Size & Forecast
27.04.04 Distribution Channel: Market Size & Forecast
27.5 MIDDLE EAST & AFRICA
27.05.01 Product Type: Market Size & Forecast
27.05.02 End User: Market Size & Forecast
27.05.03 Generational Cohort: Market Size & Forecast
27.05.04 Distribution Channel: Market Size & Forecast
27.6 LATIN AMERICA
27.06.01 Product Type: Market Size & Forecast
27.06.02 End User: Market Size & Forecast
27.06.03 Generational Cohort: Market Size & Forecast
27.06.04 Distribution Channel: Market Size & Forecast
27.7 PRODUCT TYPE
27.07.01 Market Size & Forecast
27.8 END USER
27.08.01 Market Size & Forecast
27.9 GENERATIONAL COHORT
27.09.01 Market Size & Forecast
27.10 DISTRIBUTION CHANNEL
27.10.01 Market Size & Forecast
28 Appendix
28.1 Abbreviations

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