The Europe luxury goods market was valued at USD 113.38 Billion in 2024. The industry is expected to grow at a CAGR of 3.80% during the forecast period of 2025-2034 to attain a valuation of USD 164.63 Billion by 2034.
Europe Luxury Goods Market Growth
The Europe luxury goods market growth is boosted by the different distribution channels that are available in the form of luxury malls and boutiques as offline channels.
Offline distribution channels carry opulence, affluence and the idea of being exclusive, these comprise boutique stores along prestigious streets, department stores that showcase a diverse range of high-end products, and luxury malls that offer curated selections. These offline avenues evoke a sense of tradition and heritage and appeal to consumers seeking sophistication in their shopping experiences.
Brands in the luxury goods market are constantly competing for market share owing to a steady rise in industry activity owing to many mergers and acquisitions. In August 2023 two major luxury goods brands Coach and Versace merged. In January 2021 LVMH completed the acquisition of Tiffany & Co. for USD 16.2 billion.
On the other hand, online distribution channels act as dynamic platforms reshaping the Europe luxury goods market. Luxury brands offer convenience and global access to their products via brand websites, marketplaces, and social media platforms, engaging with consumers in new and innovative ways. The digital sphere also provides opportunities for customer engagement, reflecting the evolving preferences and behaviours of luxury shoppers.
Europe Luxury Goods Market Segmentation
Europe Luxury Goods Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:
Market Breakup by Product Type:
Watches and Jewellery
Perfumes and Cosmetics
Clothing
Bags/Purse
Others
Market Breakup by End Use:
Women
Men
Market Breakup by Distribution Channel:
Offline
Online
Market Breakup by Region:
Germany
United Kingdom
France
Italy
Others
Europe Luxury Goods Market Share
Watches and jewellery lead the luxury goods market in Europe, they are the quintessential luxury items that hold aesthetic, symbolic and sentimental value representing premium craftsmanship, prestige and luxury. High-end watch brands like Rolex and Audemars Piguet are highly coveted investment-worthy accessories with high resale value and are often associated with tradition and heritage.
Leading Companies in the Europe Luxury Goods Market
The report provides a detailed analysis of the following key players in the market, covering their competitive landscape and the latest developments like mergers and acquisitions, investments, and capacity expansion.
Chanel Limited
Kering SA
Rolex SA
Hermès International S.A.
Giorgio Armani S.p.A.
Ralph Lauren Corporation
Compagnie Financière Richemont SA
Prada SpA
VALENTINO S.p.A.
Tiffany & Co.
Others
Growing outreach by major market players is largely due to the rise in digitalization and e-commerce with more consumers turning to online channels. Personalization and customization also drive customer loyalty and engagement in the industry.
- 1 Executive Summary
- 1.1 Market Size 2024-2025
- 1.2 Market Growth 2025(F)-2034(F)
- 1.3 Key Demand Drivers
- 1.4 Key Players and Competitive Structure
- 1.5 Industry Best Practices
- 1.6 Recent Trends and Developments
- 1.7 Industry Outlook
- 2 Market Overview and Stakeholder Insights
- 2.1 Market Trends
- 2.2 Key Verticals
- 2.3 Key Countries
- 2.4 Supplier Power
- 2.5 Buyer Power
- 2.6 Key Market Opportunities and Risks
- 2.7 Key Initiatives by Stakeholders
- 3 Economic Summary
- 3.1 GDP Outlook
- 3.2 GDP Per Capita Growth
- 3.3 Inflation Trends
- 3.4 Democracy Index
- 3.5 Gross Public Debt Ratios
- 3.6 Balance of Payment (BoP) Position
- 3.7 Population Outlook
- 3.8 Urbanisation Trends
- 4 Country Risk Profiles
- 4.1 Country Risk
- 4.2 Business Climate
- 5 Global Luxury Goods Market Overview
- 5.1 Key Industry Highlights
- 5.2 Global Luxury Goods Historical Market (2018-2024)
- 5.3 Global Luxury Goods Market Forecast (2025-2034)
- 5.4 Global Luxury Goods Market Share by Region
- 5.4.1 North America
- 5.4.2 Europe
- 5.4.3 Asia Pacific
- 5.4.4 Latin America
- 5.4.5 Middle East and Africa
- 6 Europe Luxury Goods Market Overview
- 6.1 Key Industry Highlights
- 6.2 Europe Luxury Goods Historical Market (2018-2024)
- 6.3 Europe Luxury Goods Market Forecast (2025-2034)
- 7 Europe Luxury Goods Market by Product Type
- 7.1 Watches and Jewellery
- 7.1.1 Historical Trend (2018-2024)
- 7.1.2 Forecast Trend (2025-2034)
- 7.2 Perfumes and Cosmetics
- 7.2.1 Historical Trend (2018-2024)
- 7.2.2 Forecast Trend (2025-2034)
- 7.3 Clothing
- 7.3.1 Historical Trend (2018-2024)
- 7.3.2 Forecast Trend (2025-2034)
- 7.4 Bags/Purse
- 7.4.1 Historical Trend (2018-2024)
- 7.4.2 Forecast Trend (2025-2034)
- 7.5 Others
- 8 Europe Luxury Goods Market by End Use
- 8.1 Women
- 8.1.1 Historical Trend (2018-2024)
- 8.1.2 Forecast Trend (2025-2034)
- 8.2 Men
- 8.2.1 Historical Trend (2018-2024)
- 8.2.2 Forecast Trend (2025-2034)
- 9 Europe Luxury Goods Market by Distribution Channel
- 9.1 Offline
- 9.1.1 Historical Trend (2018-2024)
- 9.1.2 Forecast Trend (2025-2034)
- 9.2 Online
- 9.2.1 Historical Trend (2018-2024)
- 9.2.2 Forecast Trend (2025-2034)
- 10 Europe Luxury Goods Market by Country
- 10.1 Germany
- 10.1.1 Historical Trend (2018-2024)
- 10.1.2 Forecast Trend (2025-2034)
- 10.2 United Kingdom
- 10.2.1 Historical Trend (2018-2024)
- 10.2.2 Forecast Trend (2025-2034)
- 10.3 France
- 10.3.1 Historical Trend (2018-2024)
- 10.3.2 Forecast Trend (2025-2034)
- 10.4 Italy
- 10.4.1 Historical Trend (2018-2024)
- 10.4.2 Forecast Trend (2025-2034)
- 10.5 Others
- 11 Market Dynamics
- 11.1 SWOT Analysis
- 11.1.1 Strengths
- 11.1.2 Weaknesses
- 11.1.3 Opportunities
- 11.1.4 Threats
- 11.2 Porter’s Five Forces Analysis
- 11.2.1 Supplier’s Power
- 11.2.2 Buyer’s Power
- 11.2.3 Threat of New Entrants
- 11.2.4 Degree of Rivalry
- 11.2.5 Threat of Substitutes
- 11.3 Key Indicators of Demand
- 11.4 Key Indicators of Price
- 12 Competitive Landscape
- 12.1 Supplier Selection
- 12.2 Key Global Players
- 12.3 Key Regional Players
- 12.4 Key Player Strategies
- 12.5 Company Profiles
- 12.5.1 Chanel Limited
- 12.5.1.1 Company Overview
- 12.5.1.2 Product Portfolio
- 12.5.1.3 Demographic Reach and Achievements
- 12.5.1.4 Certifications
- 12.5.2 Kering SA
- 12.5.2.1 Company Overview
- 12.5.2.2 Product Portfolio
- 12.5.2.3 Demographic Reach and Achievements
- 12.5.2.4 Certifications
- 12.5.3 Rolex SA
- 12.5.3.1 Company Overview
- 12.5.3.2 Product Portfolio
- 12.5.3.3 Demographic Reach and Achievements
- 12.5.3.4 Certifications
- 12.5.4 Hermès International S.A.
- 12.5.4.1 Company Overview
- 12.5.4.2 Product Portfolio
- 12.5.4.3 Demographic Reach and Achievements
- 12.5.4.4 Certifications
- 12.5.5 Giorgio Armani S.p.A.
- 12.5.5.1 Company Overview
- 12.5.5.2 Product Portfolio
- 12.5.5.3 Demographic Reach and Achievements
- 12.5.5.4 Certifications
- 12.5.6 Ralph Lauren Corporation
- 12.5.6.1 Company Overview
- 12.5.6.2 Product Portfolio
- 12.5.6.3 Demographic Reach and Achievements
- 12.5.6.4 Certifications
- 12.5.7 Compagnie Financière Richemont SA
- 12.5.7.1 Company Overview
- 12.5.7.2 Product Portfolio
- 12.5.7.3 Demographic Reach and Achievements
- 12.5.7.4 Certifications
- 12.5.8 Prada SpA
- 12.5.8.1 Company Overview
- 12.5.8.2 Product Portfolio
- 12.5.8.3 Demographic Reach and Achievements
- 12.5.8.4 Certifications
- 12.5.9 VALENTINO S.p.A.
- 12.5.9.1 Company Overview
- 12.5.9.2 Product Portfolio
- 12.5.9.3 Demographic Reach and Achievements
- 12.5.9.4 Certifications
- 12.5.10 Tiffany & Co.
- 12.5.10.1 Company Overview
- 12.5.10.2 Product Portfolio
- 12.5.10.3 Demographic Reach and Achievements
- 12.5.10.4 Certifications
- 12.5.11 Others
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