This statistic shows the estimated value of various global luxury markets in 2023, by market type. It was estimated that in 2023 the global luxury cars market was worth about 635 billion euros. The total value of the global luxury goods market was approximately 1.5 trillion euros that year. Luxury Goods IndustryThe global luxury goods industry, which includes cars, jets, drinks, fashion, cosmetics, fragrances, watches, jewelry, luggage and handbags, has been on an upward climb for many years. Although the technical term 'luxury good' is independent of the goods' quality, they are generally considered to be goods at the highest end of the market in terms of quality and price. Luxury goods manufacturers meet consumer demand by focusing on brand, aesthetics, quality materials, superior craftsmanship and pricing to transform everyday objects into status symbols. The industry rises and falls with the gross domestic product (GDP), seeing demand climb in times of economic stability and plummeting in unfavorable economic climates. The United States has long been the largest regional market for luxury goods and is estimated to continue to be the leading personal luxury goods market in 2018, with a value of 71 billion euros. Louis Vuitton was the most valuable luxury brand in the world, with a brand value of about 47.2 billion U.S. dollars in 2019. The LVMH Group's total revenue for the 2018 fiscal year was about 46.83 billion euros.New markets and segments are giving the industry growth points. One challenge for luxury companies is to maintain brand equity and cultivate their customer relationships. As luxury expands into more industries, expect a more mature segmented market. As a result, consumers should also become more rational.

This statistic shows the value of the personal luxury goods market worldwide in 2023, broken down by sales channel. In 2023, the value of the travel retail (airport) personal luxury goods market worldwide was roughly 14 billion euros.

This statistic shows the value of the personal luxury goods market worldwide from 1996 to 2023. In 2023, the value of the personal luxury goods market worldwide was estimated to be 363 billion euros. Luxury goods industryThe global luxury goods industry, which includes drinks, fashion, cosmetics, fragrances, watches, jewelry, luggage and handbags, has been on an upward climb for many years. Although the technical term 'luxury good' is independent of the goods' quality, they are generally considered to be goods at the highest end of the market in terms of quality and price. Luxury goods manufacturers meet consumer demand by focusing on brand, aesthetics, quality materials, superior craftsmanship and pricing to transform everyday objects into status symbols. The industry rises and falls with the gross domestic product (GDP), seeing demand climb in times of economic stability and plummeting in unfavorable economic climates. Most valuable luxury brandsLouis Vuitton was the most valuable luxury brand in the world, with a brand value of about 130 billion U.S. dollars in 2023. The LVMH Group's total revenue for the 2023 fiscal year was about 86 billion euros.New markets and segments are giving the industry growth points. One challenge for luxury companies is to maintain brand equity and cultivate their customer relationships. As luxury expands into more industries, expect a more mature segmented market. As a result, consumers should also become more rational.

LVMH Moët Hennessy Louis Vuitton is a public company headquartered in France with an estimated 213,000 employees. In the US, the company has a notable market share in at least three industries: Jewelry Stores, Perfume & Fragrance Stores, Online Perfume & Cosmetic Sales and Jewelry Stores. Their largest market share is in the Perfume & Fragrance Stores industry, where they account for an estimated 12.1% of total industry revenue.

In 2023, the Asia-Pacific region, including Japan, accounted for 38 percent of the French luxury group’s global revenue, while sales from the United States made up about a quarter of its revenue. The LVMH Group The French luxury goods conglomerate LVMH Group owns a broad portfolio of 75 luxury houses including Tiffany &Co., Christian Dior, and its namesake Louis Vuitton fashion house. The LVMH Group has demonstrated strong and consistent sales growth over the past decade. In 2024, the group saw an overall revenue of about 84.68 billion euros, almost three times the figure from ten years back in 2014. The number of stores owned by the group also followed a parallel growth pattern, hitting an all-time high of 6,307 stores in the same year. Louis Vuitton Louis Vuitton was by far the most valuable luxury brand in 2024, with a brand value of 129.9 billion U.S. dollars, ahead of second-ranked Hermès which was valued at around 93.7 billion dollars. The luxury fashion house was founded in 1854, and underwent a merger with Moët Hennessy in 1987, resulting in the formation of the LVMH Group. As of 2023, the LVMH empire is overseen by French tycoon Bernard Arnault, who is among the leading billionaires in the luxury industry based on wealth.

This timeline depicts the net sales of Prada worldwide from 2013 to 2023. In 2023, Prada generated global net sales of about 4.2 billion euros.PradaThe Italian fashion house, Prada, founded in 1913, specializes in luxury goods. Prada's earnings and income had been on a downward trend over the last number of years, however the company's, EBITDA and net income rose in 2019.There has been a growth in the number of Prada employees over the years, with the Milan based company employing 13,779 people in 2019.

The company specializes in luxury goods such as leather goods, clothing and footwear. In 2022, leather goods were the company’s largest category, with net sales from this category amounting to approximately 1.86 billion euros. Prada had sales in Europe of approximately 1.18 billion euros in 2022. The company had 635 owned stores and 26 franchises in 2021.

The size of the Luxury Fashion Market was valued at USD 110.13 Million in 2023 and is projected to reach USD 171.82 Million by 2032, with an expected CAGR of 6.56% during the forecast period. Luxury fashion represents the epitome of high-end clothing and accessories, characterized by exceptional quality, exclusivity, and sophisticated design. This segment of the fashion industry focuses on premium materials such as fine silk, cashmere, and high-grade leather, coupled with meticulous craftsmanship and innovative design. Brands in luxury fashion, such as Louis Vuitton, Gucci, and Chanel, are renowned for their iconic styles and timeless elegance, often setting trends and influencing broader fashion narratives. The luxury fashion market caters to a discerning clientele that values uniqueness and status. Limited-edition collections, bespoke tailoring, and personalized services are hallmarks of this sector, enhancing the exclusivity of the products. High-end fashion houses often showcase their creations at prestigious fashion weeks and through elaborate marketing campaigns, reinforcing their brand prestige and allure. Sustainability is also gaining prominence in luxury fashion, with many brands adopting eco-friendly practices and materials in response to growing consumer awareness and demand for ethical production. This evolution reflects a broader shift towards responsible luxury, where environmental and social considerations are integral to the industry’s future. Overall, luxury fashion continues to be a symbol of opulence and sophistication, driven by innovation, heritage, and an unwavering commitment to excellence. Recent developments include: November 2022: The New Concepts Nordstrom platform and the British luxury brand Burberry announced the debut of Concept 019: Burberry with the introduction of a capsule collection and several in-store installations. The capsule collection includes outerwear staples, including trench coats and puffer jackets, while ready-to-wear and accessories for men, women, and children include graphic T-shirts, knitwear, tailoring, bags, shoes, and scarves., September 2022: Hermès International S.A. announced the opening of a new duplex store offering a range of premium apparel within the Union Square shopping mall in Ho Chi Minh City, Vietnam., February 2022: LVMH announced its plans to acquire the United States-based luxury brand, Ralph Lauren. The company intends to increase its worldwide brand development. In a developing market like Saudi Arabia, where Ralph Lauren already has an omnichannel presence, this purchase will allow brands to mold themselves according to the region's demographic trends and deliver new-end products to Saudi consumers.. Key drivers for this market are: Increasing demand for certified jewelry, Increasing product development in terms of designs. Potential restraints include: Extensive availability of imitation jewelry. Notable trends are: Rise in E-commerce Boosting the Market.

In 2023, among the brands controlled by the Italian fashion company Prada Group, the brand Prada generated over 3.48 billion euros worth of sales worldwide. Miu Miu was the second most profitable brand among those controlled by Prada Group, with global net sales amounting to 649 million euros. In total, the net sales of Prada Group reached a value of 4.2 billion euros.

Prada Group

The Italian fashion group is active in the manufacturing and distribution of luxury goods such as leather goods, clothing and accessories, as well as footwear. Leather goods were the product category that generated the highest net sales. When looking at the geography of Prada’s sales, Asia-Pacific emerges as the largest market for the company. In fact, net sales in this region reached a value of over 1.23 billion euros in 2022.

Among the most valued brands

Thanks to its high quality and unique design, the Group’s products are recognized worldwide as a symbol of Italian excellence. Prada is among the leading luxury companies worldwide in terms of its brand value. In 2022, the brand has a value of 5.6 billion U.S. dollars, ranking in 10th place after other luxury names such as Rolex, YSL, and Tiffany & Co.

Vendor Performance

Category	Market Share (%)
Top 3 (Louis Vuitton, Gucci, Samsonite)	19%
Rest of Top 5 (Fossil, Herschel Supply Co.)	15%
Next 5 of Top 10 (Bellroy, Tumi, Coach, Montblanc, Secrid)	13%

By Product Type:The Market is segmented by product type into fashion apparel, jewelry & watches, personal care, wine & spirits, and luxury automotive.Fashion apparelholds the largest market share within this segmentation, attributed to its significant cultural appeal and the continuous trend-driven demand among affluent consumers. Renowned brands like Gucci, Louis Vuitton, and Chanel have established strong loyalty among luxury consumers in the USA, and their frequent collaboration with influencers and celebrities enhances the popularity of luxury fashion. This dominance is further supported by the innovation in exclusive collections and personalized shopping experiences, which elevate consumer engagement.

The luxury products for kids market is set for significant growth from 2025 to 2035, driven by rising parental spending, increasing brand consciousness, and premiumization trends. The market size is projected to expand from USD 44.1 billion in 2025 to USD 76.3 billion by 2035, registering a compound annual growth rate (CAGR) of approximately 5.8% over the forecast period.

Metric	Value
Industry Size (2025E)	USD 44.1 billion
Industry Value (2035F)	USD 76.3 billion
CAGR (2025 to 2035)	5.8%

Per Capita Spending On Luxury Products For Kids Market

Country	United States
Population (millions)	345.4
Estimated Per Capita Spending (USD)	65.20
Estimated Total Market Size (USD millions)	22,506.08

Country	China
Population (millions)	1,419.3
Estimated Per Capita Spending (USD)	52.80
Estimated Total Market Size (USD millions)	74,917.44

Country	India
Population (millions)	1,450.9
Estimated Per Capita Spending (USD)	21.50
Estimated Total Market Size (USD millions)	31,195.35

Country	Germany
Population (millions)	84.1
Estimated Per Capita Spending (USD)	59.70
Estimated Total Market Size (USD millions)	5,021.77

Country	United Kingdom
Population (millions)	68.3
Estimated Per Capita Spending (USD)	57.40
Estimated Total Market Size (USD millions)	3,921.42

Country-Wise Outlook

Country	CAGR (2025 to 2035)
United States	5.6%

Country	CAGR (2025 to 2035)
United Kingdom	4.9%

Country	CAGR (2025 to 2035)
Germany	5.3%

Country	CAGR (2025 to 2035)
India	6.7%

Country	CAGR (2025 to 2035)
China	7.0%

Competition Outlook

Company Name	Estimated Market Share (%)
LVMH Moët Hennessy - Louis Vuitton SE	15-20%
Kering SA	12-16%
Hermès International S.A.	10-14%
Burberry Group plc	8-12%
Dolce & Gabbana S.r.l.	6-10%
Other Companies (combined)	30-40%

The largest market share of a single company in China's luxury goods market in 2022 was shared by LVMH and China National Gold Group Gold Jewellery. Kering, Rolex, Richemont, and the Swatch Group all held five percent shares of the market.

This statistic shows the share of the luxury goods market worldwide in 2023, by region. In 2023, Americas held an estimated 28 percent share of the global luxury goods market. Luxury goods industryThe global luxury goods industry, which includes drinks, fashion, cosmetics, fragrances, watches, jewelry, luggage and handbags, has been on an upward climb for many years. Although the technical term 'luxury good' is independent of the goods' quality, they are generally considered to be goods at the highest end of the market in terms of quality and price. Luxury goods manufacturers meet consumer demand by focusing on brand, aesthetics, quality materials, superior craftsmanship and pricing to transform everyday objects into status symbols. The industry rises and falls with the gross domestic product (GDP), seeing demand climb in times of economic stability and plummeting in unfavorable economic climates. The United States has long been the largest regional market for luxury goods. Louis Vuitton was the most valuable luxury brand in the world, with a brand value of about 124.3 billion U.S. dollars in 2022. The LVMH Group's total revenue for the 2022 fiscal year was about 79.2 billion euros.New markets and segments are giving the industry growth points. One challenge for luxury companies is to maintain brand equity and cultivate their customer relationships. As luxury expands into more industries, expect a more mature segmented market. As a result, consumers should also become more rational.

[Keywords] Market include Revlon Inc., PDC Brands, Oriflame Holding AG, Abdul Samad Al Qurashi, Avon Products Inc.

[Keywords] Market include Herschel Supply Company, DELSEY, Samsonite International S.A., Belmil, VIP Industries

In 2023, the fashion and leather goods segment accounted for about 39 percent of LVMH's revenue in Asia, excluding Japan. The watches and jewelry segment was the largest revenue group for LVMH in Japan in 2023. About LVMH LVMH Moët Hennessy Louis Vuitton, known as LVMH, is a French conglomerate specializing in luxury goods and is a parent company to numerous luxury brands, ranging from fashion and jewelry to wines and spirits. Louis Vuitton, the eponym of the group and the most valuable luxury brand in the world, earns its biggest revenue share from Asia. LVMH in Asia Asia is the largest consumer of luxury goods, with China, Japan, and South Korea being the leaders. There is a massive demand for luxury goods from the middle class in these economies, making them important strategic markets for LVMH. Asia is home to the greatest number of LVMH stores. The first Louis Vuitton stores in Japan opened in Tokyo and Osaka in 1978, becoming a major heritage brand in the country. Stores in Singapore and Taipei followed up in 1979 and 1983, respectively. With a history of 30 years of operation in China, Louis Vuitton is the most popular luxury brand in the country.

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The menswear market size was valued at $ 153.87 bn in 2020-2024. The market is expected to witness robust growth at a CAGR of 6 % during the forecast period 2020-2024. The market sizing has been built and validated using multiple demand-side and supply-side approaches for a detailed understanding of the menswear market.

The size of the global menswear market has been derived by triangulating data from multiple sources and approaches. While arriving at the market size, we have considered data points, such as the size of the parent market and the revenues of key market participants, such as H & M Hennes & Mauritz AB, Industria de Diseño Textil SA, Kering SA, Levi Strauss & Co., LVMH Moët Hennessy - Louis Vuitton, Nike Inc., PVH Corp., Ralph Lauren Corp., The Gap Inc., and VF Corp..

According to the Cognitive Market Research Report, the Duty-Free Retailing Market size in 2023 was XX Million and is projected to have a compounded annual growth rate of XX% from 2024 to 2031. The rapid expansion of the tourism industry and Increasing incomes of the middle class, cities becoming more urbanized, and duty-free retail stores integrating technological advancements are the drivers of this industry. The perfumes hold a dominant position in the duty-free retailing market as it is sold all around the world through internationally renowned distribution systems. The airport is the most dominant among the various sales channels because of the increasing number of local and international airports across countries is boosting product sales through this distribution channel. Asia Pacific became the dominant duty-free retail market in 2023, accounting for the majority of revenue. The launch of low-cost carriers and the construction of new air routes are driving the Asia-Pacific duty-free retail sector's growth. Key businesses have implemented a variety of competitive strategies, such as new product releases and partnerships, to keep ahead of the rising rivalry. In this regard, current market changes highlight the necessity for companies to use methods to combat competitive rivalry.

Market Dynamics of Duty Free Retailing

Key Drivers

The rapid expansion of the tourism industry stimulates market expansion of duty-free retailing.

The number of inbound and departing travelers is expanding dramatically because of many reasons. Many people visit cities to experience the culture of museums, art galleries, architecture, boutiques, and restaurants. The natural scenery is also a big 'pull' for visitors, especially mountains like the Alps in Europe or stunning stretches of shoreline in the Mediterranean or Caribbean. Moreover, people today make more money than they did 20 years ago, and also full-time employees now receive paid leave for at least three weeks every year. This means they can afford to take more than one vacation each year. Furthermore, people have more flexibility in choosing where and when they want to travel as they possess more cars and feasible airplane and rail transport. This feasibility and amenities make it easy to boast in tourism. Furthermore, the use of chartered aircraft has lowered the cost of international travel. Hence, the number of airport visitors is increasing internationally. A surge in local and international business travel, as well as sports travel, is a major element driving the size of the duty-free retail industry. The Summer Olympic Games, UEFA Euro, UEFA Champions League, and Premier Leagues are just a few of the significant events that draw large crowds from all over the world. Every year, sporting events are held in various nations throughout the world, boosting the number of foreign tourists and visitors, which boosts retail sales of luxury and branded goods, particularly through duty-free businesses. All the major European nations, as well as the Asia Pacific countries, particularly Malaysia, Singapore, Japan, and Thailand, draw a considerable number of people from across the world, thereby driving the duty-free retailing market sales. For instance, Qatar Airways Group CEO Engr. Badr Mohammed Al Meer has praised Qatar Duty-Free's (QDF) performance in 2023 after the travel retailer recorded a 32% year-on-year revenue increase. The past year has been marked by a slew of new shop openings, many of which were channel 'firsts', as well as high-profile campaigns, activations, and marketing activities as QDF continued to expand its estate of more than 200 retail and dining outlets following a landmark year in 2022 for the FIFA World Cup Qatar 2022. Other highlights that raised the market growth included like the opening of Yannick Alléno's award-winning Louis Vuitton Lounge, TRBusiness was on the ground in Doha providing coverage as well as a newly opened Dolce & Gabbana boutique, a three-day World Chocolate Day campaign with Venchi, a National Lipstick Day campaign with MAC Cosmetics, and the unveiling of a brand-new food court featuring five international cuisine concepts. The travel merchant enhanced its visibility on the athletic scene by sponsoring the Qatar Grand Prix and provided a unique twist on the classic Qatari Souq experience with Souq Al Matar, which houses seven shops and two eateries. (...

The perfume market is anticipated to grow from USD 66.1 billion in 2025 to USD 112.7 billion by 2035, with a compound annual growth rate (CAGR) of 5.48%.

Metrics	Values
Industry Size (2025E)	USD 66.1 billion
Industry Value (2035F)	USD 112.7 billion
CAGR (2025 to 2035)	5.48%

Per Capita Spending

Countries	Estimated Per Capita Spending (USD)
USA	45.80
China	24.50
India	12.30
France	52.10
United Arab Emirates (UAE)	60.00

Country-Wise Outlook

Countries	CAGR (2025 to 2035)
USA	5.2%
UK	4.8%
Germany	5.5%
India	6.7%
China	7.0%

Competitive Landscape

Company Name	Estimated Share (%)
L'Oréal Groupe	15-20%
Estée Lauder Companies Inc.	12-16%
Coty Inc.	10-14%
LVMH Moët Hennessy - Louis Vuitton SE	8-12%
Chanel SA	6-10%
Other Companies (combined)	30-40%

[Keywords] Market include Safilo, Alexander Mcqueen, Marcolin, Luxottica, Louis Vuitton