This statistic shows the value of the personal luxury goods market worldwide in 2021, by product type. In 2021, the market value of personal luxury apparel products reached an estimated 57 billion euros.

This statistic shows the total value of the luxury retail market worldwide from 2011 to 2021. In 2016, the retail value of the global luxury retail market amounted to about 346.5 billion U.S. dollars.

This statistic shows the value of the personal luxury goods market worldwide from 1996 to 2024. In 2024, 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 2024. The LVMH Group's total revenue for the 2024 fiscal year was about 85 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 second-hand personal luxury goods market worldwide from 2015 to 2021. In 2021, the personal luxury goods second-hand market worldwide was valued at 33 billion euros.

Over the forecast period until 2029, the online revenue share is forecast to exhibit fluctuations among the two segments. Comparing the two different segments for the year 2029, the segment 'Offline' leads the ranking with 88.25 percent. Contrastingly, 'Online' is ranked last, with 11.75 percent. Their difference, compared to Offline, lies at 76.5 percentage points. Find further statistics on other topics such as a comparison of the revenue in the United Kingdom and a comparison of the online revenue share in Singapore. The Statista Market Insights cover a broad range of additional markets.

Snapshot img

Personal Luxury Goods Market Size 2025-2029

The personal luxury goods market size is forecast to increase by USD 39.3 billion at a CAGR of 2.4% between 2024 and 2029.

The market is experiencing significant growth, driven by several key trends. One of the primary factors fueling market expansion is the increased demand for premium beauty products and cosmetics. Consumers are increasingly seeking high-quality, luxurious items to enhance their appearance and self-image. Bags, purses, and other leather goods remain staples, offering both functionality and style. Another trend shaping the market is the integration of technology, with brands utilizing advanced technologies to enhance the customer experience and differentiate their offerings.
However, the market also faces challenges, including rising labor costs and fluctuating raw material prices, which can impact profitability. To remain competitive, players In the market must stay abreast of these trends and adapt to the changing market landscape. 

What will be the Personal Luxury Goods Market Size During the Forecast Period?

Request Free Sample

The market encompasses a diverse range of premium products, including watches, jewelry, cosmetics, clothing, bags, and various other items. This market is characterized by its continuous evolution, driven by changing lifestyles, technology integration, and a rising consciousness towards sustainability. Consumers increasingly seek luxury experiences and status symbols that align with their values, leading to a growing demand for technology-embedded products. Premium watches and jewelry continue to be popular choices, with consumers drawn to their timeless appeal and craftsmanship. Cosmetics and clothing, too, have seen significant growth, as people prioritize self-care and personal expression.
The market is not limited to traditional luxury items, with an expanding range of offerings such as champagne trucks, crystal bathtubs, eco-friendly beds, and even high-end smartphones. The British auction house and luxury brands continue to shape the market with their innovative offerings. However, the market is not exclusive to high-income groups; there is a growing trend towards accessible luxury, with brands catering to a wider audience. In summary, the market is dynamic and diverse, driven by changing consumer preferences, technology integration, and a growing awareness of sustainability. It offers a wide range of premium products, from traditional items like watches and jewelry to more innovative offerings like eco-friendly beds and technology-embedded products.

How is this Personal Luxury Goods Industry segmented and which is the largest segment?

The personal luxury goods industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Distribution Channel

  Offline
  Online


Product

  Hard luxury
  Apparel
  Cosmetics and perfumes
  Accessories
  Others


Geography

  Europe

    Germany
    UK
    France


  North America

    Canada
    US


  APAC

    China
    India
    Japan


  Middle East and Africa



  South America

    Brazil

By Distribution Channel Insights

The offline segment is estimated to witness significant growth during the forecast period. Personal luxury goods, such as watches, jewelry, cosmetics, clothing, bags, and other premium items, are sold through various channels. Offline distribution includes specialty stores, including brand-owned and multi-brand outlets, apparel stores, fashion accessory stores, sports equipment stores, hypermarkets, supermarkets, and department stores. Revenues from this segment have been decreasing due to the growing trend of online shopping. To boost sales, companies are increasing their store presence in local and regional markets. Luxury brands sell their merchandise through both specialty stores and other retail formats, leading to heightened competition. Consumers from the low-income group are increasingly drawn to these items due to changing lifestyles, modern culture, and rising consciousness.

Marketing strategies, competitive advantages, and sales channels continue to evolve, with online luxury shopping gaining popularity among younger consumers. Eco-friendly products and sociopolitical issues are also influencing commercial policies. The market for personal luxury goods encompasses a wide range of items, from watches and jewelry to cosmetics, clothing, bags, and even eco-friendly beds and crystal bathtubs. Brands like OMEGA, Burberry, Reliance, and others cater to diverse target audiences. The market landscape is dynamic, with trends such as technology-embedded products and second-hand brand products gaining traction. Sales channels continue to evolve, with trucks and shopping malls emerging

The size of the Asia Pacific Luxury Goods Industry market was valued at USD 141.82 Million in 2023 and is projected to reach USD 187.38 Million by 2032, with an expected CAGR of 4.06% during the forecast period. The luxury goods industry focuses on high-end products that are distinguished by their exclusivity, superior quality, and premium pricing. This sector encompasses a wide range of items, including designer fashion, fine jewelry, luxury watches, high-end automobiles, and premium real estate. Luxury goods are often characterized by exceptional craftsmanship, the use of rare or high-quality materials, and a strong emphasis on brand heritage and prestige.The industry is driven by consumer demand for products that symbolize status and offer a unique sense of exclusivity. Brands within the luxury sector frequently engage in meticulous design and production processes to ensure that their products stand out in terms of quality and uniqueness. This often involves artisanal techniques, limited production runs, and the use of luxurious materials like fine leather, precious metals, and gemstones. Recent developments include: June 2022: Estée Lauder's Luxury debuted its Fragrance Collection in Southeast Asia. This is Southeast Asia's first travel retail launch of the Estée Lauder Luxury Fragrance Collection. Estée Lauder has partnered with King Power Duty-Free [part of the King Power International Group] for the exclusive launch of the Luxury Fragrance Collection in Thailand., December 2021: Luxury swiss watch brand Roger Dubuis launched its first standalone store in Australia in Sydney. The brand has made 28 timepieces exclusive to the Sydney store, though sells its watches in other stores in Sydney and Melbourne., May 2021: the Los Angeles-based Aaron Kirman Group launched a new Asia-Pacific division to better tap into a growing market of luxury buyers from Asia.. Key drivers for this market are: Product Innovations to Drive Demand for Watches, Rising Demand for Premium Fashion Items. Potential restraints include: Presence of Counterfeit Products. Notable trends are: Rising Trend of Personalization and Customization of Goods.

In 2021, the share of online sales for the luxury market in China amounted to about 21 percent of the total sales, excluding duty-free shopping. With duty-free shopping taken into consideration, online sales made up 26 percent of the luxury market in China that year.

The size of the Russia Luxury Goods Market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 5.60% during the forecast period. The luxury goods industry focuses on high-end products that are distinguished by their exclusivity, superior quality, and premium pricing. This sector encompasses a wide range of items, including designer fashion, fine jewelry, luxury watches, high-end automobiles, and premium real estate. Luxury goods are often characterized by exceptional craftsmanship, the use of rare or high-quality materials, and a strong emphasis on brand heritage and prestige. The industry is driven by consumer demand for products that symbolize status and offer a unique sense of exclusivity. Brands within the luxury sector frequently engage in meticulous design and production processes to ensure that their products stand out in terms of quality and uniqueness. This often involves artisanal techniques, limited production runs, and the use of luxurious materials like fine leather, precious metals, and gemstones. Recent developments include: In 2021, The Russian company Alrosa completed the consolidation of its jewelry production and launched its first online jewelry store. The company's goal is to promote origin-guaranteed Russian diamonds, improve the user's experience, and combat fraud in the market., In 2021, Russian jeweler Sokolov has planned a dual listing in New York and Moscow 2023, its co-owner told Reuters, betting on strong revenue growth and the development of its retail network as it joins a raft of Russian companies pursuing market debuts. The major strategy behind its movement toward the initial public offering (IPO) is to expand the company's business., In 2020, & Other Stories opened its first store in Russia. The strategy behind the opening of its new establishment was to cater to consumers with several types of luxury goods such as bags, jewelry, and other products.. Key drivers for this market are: Increasing Consumer Interest in Adventure Tourism, Growing Focus on Health and Wellness. Potential restraints include: High Risk and Safety Concerns, Fluctuating Weather Patterns. Notable trends are: Consumer's Willingness to Spend on Luxury Grooming.

The Report Covers Thailand Luxury Goods Market Trends & Key Players and it is Segmented by Type (Clothing and Apparel, Footwear, Bags, Jewelry, Watches, and Other Accessories); and by Distribution Channel (Single-branded Stores, Multi-brand Stores, Online Retail Stores, and Other Distribution Channels). The market size and forecasts are provided in terms of value (USD million) for the above segments.

Luxury Goods Market size was valued at USD 230.05 billion in 2021 and is poised to grow from USD 242.8 billion in 2022 to USD 369.8 billion by 2030, growing at a CAGR of 5.4% in the forecast period (2023-2030).

The size of the Luxury Goods Market in France market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 6.47% during the forecast period. Luxury goods refer to high-end products that are characterized by their exclusivity, superior quality, and high price point. These items are often associated with prestige and status, offering not only exceptional craftsmanship but also a unique experience or brand heritage. Luxury goods encompass a wide range of categories, including fashion items like designer clothing, accessories, and footwear; jewelry and watches high-end automobiles; and premium real estate. The luxury market is distinguished by its emphasis on exclusivity and exceptional quality. Materials used are often rare or of the highest grade, and production processes involve meticulous attention to detail. For instance, luxury fashion brands may use fine fabrics and artisanal techniques, while high-end watches often feature intricate mechanical movements and precious metals. This growth is fueled by a combination of elements, including the elite's disposable income, growing discretionary expenditure, expanding urbanization, and a taste for finer things. The rising desire for branded and designer goods among more affluent persons in metropolitan areas is also a contributing factor. Recent developments include: In April 2022, well-known skincare brand Shiseido declared the launch of its new skincare products in the french market., In October 2021, LVMH declared that they have acquired the French-based fragrance brand Officine Universelle Buly 1803 to sell its variety of heritage perfumes globally including in France., In October 2021, the well-known luxury footwear brand Roger Vivier declared the launch of its latest footwear and accessories under its fall '21 collection.. Key drivers for this market are: Inclination Towards Natural and Organic Formulations. Potential restraints include: Presence of Counterfeit Beauty and Personal Care Products. Notable trends are: High Affinity for Luxury Perfumes.

The size of the UAE Luxury Goods Market was valued at USD 4.19 Million in 2023 and is projected to reach USD 5.97 Million by 2032, with an expected CAGR of 5.20% during the forecast period. The luxury goods market in the UAE has become a key segment in the region’s economy, reflecting the nation’s growing affluence and status as a global luxury hub. Known for its world-class shopping destinations, high-profile events, and tax-free environment, the UAE attracts millions of tourists and affluent residents who contribute significantly to luxury sales. Dubai and Abu Dhabi, in particular, are home to flagship stores for many of the world’s top luxury brands in fashion, jewelry, watches, and cosmetics. With a strong consumer base consisting of high-net-worth individuals and a culture that values exclusivity and premium brands, the UAE market is highly resilient to global economic fluctuations. The industry’s growth is also bolstered by the UAE’s young, tech-savvy population, who drive demand for innovative, experiential, and digitally interactive luxury experiences. Additionally, the influx of expatriates and tourists plays a crucial role in sustaining demand, making the UAE one of the most important markets for international luxury brands. Recent developments include: March 2022: Kering Group's Gucci debuted its glittering high jewelry pieces encompassing necklaces, rings, and bracelets in the United Arab Emirates. The jewelry pieces are created using white gold, white diamonds, and sapphires in many hues., July 2021: Versace unveiled its new boutique at The Galleria Al Maryah Island, Abu Dhabi. The new boutique spans 152 square meters and features a full selection of Versace ready-to-wear fashion and accessories for men and women., May 2021: A new Rolex Boutique was opened at The Galleria Al Maryah Island in Abu Dhabi, the capital of the United Arab Emirates. The boutique features a "watchbar" and various seating areas where clients are welcome to sit, as well as a VIP room that proudly displays the extensive collection.. Key drivers for this market are: Growing Skin Concerns Among Men Leading to Purchase of Skincare Products, The Taming and Beard Maintenance Market Dominates the Men's Grooming Products Market. Potential restraints include: Increasing Awareness Regarding the Side Effects Associated with Chemical Cosmetic/Skincare Products. Notable trends are: Increasing Tourism and Growing Cultural Influence.

According to Cognitive Market Research, The Global Luxury Item Retail Websites Market is Growing at a Compound Annual Growth Rate (CAGR) of 4.2% from 2023 to 2030.

The demand for Luxury Item Retail Websites is rising due to increasing digital transformation.
Demand for Wedding Dress Renting service Application Luxury Item Retail Websites remains higher in the Luxury Item Retail Websites market.
The Princess Type Types held the highest Portable Beach umbrella market revenue share in 2023.
North America Luxury Item Retail Websites will continue to lead, whereas the Asia Pacific Luxury Item Retail Websites market will experience the most substantial growth until 2030.

Increasing Digital Transformation to Provide Viable Market Output

The increasing emphasis on digital transformation is a key driver for the growth of the Luxury Item Retail Websites market. As consumer behaviors evolve, luxury brands are compelled to enhance their online presence to cater to a tech-savvy audience. E-commerce platforms provide an avenue for global reach, enabling brands to engage with a wider customer base. The integration of technologies, such as AR and personalized digital experiences, enhances customer engagement. This digital shift not only meets changing consumer preferences for online shopping but also strengthens brand visibility, ultimately driving the success of luxury item retail websites.

In April 2021, the Alshaya franchise company successfully established the inaugural Aerie store in the Middle East, located in Kuwait. Aerie, a premium clothing division of American Eagle, offers a diverse range of products at the newly opened store, including clothing, women's swimwear, sweat-ready activewear, loungewear, and intimate wear.

(Source:www.alshaya.com/en/media-centre/alshaya-news/aerie-opens-its-first-store-in-the-middle-east-in-kuwait/)

Growing Personalization to Propel Market Growth

Growing personalization is a driving force in the luxury item retail websites market as consumers increasingly seek unique and tailored experiences. Luxury brands leverage data analytics and artificial intelligence to understand individual preferences, enabling them to offer personalized product recommendations, exclusive offers, and a customized shopping journey. This enhances customer satisfaction, loyalty, and engagement. The allure of a personalized and curated shopping experience not only distinguishes luxury brands online but also fosters a deeper connection between consumers and the brand, ultimately contributing to the success and growth of luxury item retail websites.

In 2021, the collaboration between Adidas Originals and designer Arwa Al Banawi led to the release of a uniquely personalized version of the iconic Forum silhouette. The Adidas Originals by Arwa Al Banawi Forum Lo Sneaker, aptly designed in sand tones, introduced a fresh and distinctive aesthetic to the classic footwear.

(Source:udaipurtimes.com/travel-and-tourism/adidas-originals-arwa-al-banawi-lo-sneaker-launched-at/cid3082301.htm)

Market Dynamics of Luxury Item Retail Websites

Growing Counterfeiting and Fraud to Restrict Market Growth

The growing challenge of counterfeiting and fraud poses a significant threat to the Luxury Item Retail Websites market. The allure of luxury items attracts counterfeiters who exploit online platforms, deceiving unsuspecting consumers with fake products. This undermines the authenticity of brands, erodes consumer trust, and tarnishes reputations. Luxury retailers must invest in advanced anti-counterfeiting technologies, robust authentication measures, and vigilant monitoring to combat fraudulent activities. Please address these challenges not only compromises brand integrity but also hamper the overall growth and success of luxury item retail websites in the fiercely competitive digital marketplace.

Impact of COVID–19 on the Luxury Item Retail Websites Market

The COVID-19 pandemic significantly impacted the luxury item retail websites market. Lockdowns and restrictions led to a surge in online shopping, prompting luxury retailers to strengthen their digital presence. Brands accelerated their e-commerce strategies to reach consumers confined to their homes. Consumer preferences shifted towards contactless and digital experiences, influencing the luxury market to adapt. While there were initial disruptions in the supply chain, the pandemic ultimately accelerated the...

In 2021, the absolute luxury fashion brands market size grew to around three billion U.S. dollars, up from 1.9 billion U.S. dollars in 2019 in the Gulf Cooperation Council (GCC).This corresponds to a growth of 55 percent from 2019 to 2021.

The size of the GCC Luxury Goods Market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 5.42% during the forecast period. The luxury goods market in the Gulf Cooperation Council (GCC) region encompasses high-end products such as fashion and accessories, beauty products, luxury watches, jewelry, and premium automobiles. These goods are characterized by their superior quality, exclusivity, and high price points, often associated with prestigious brands and exceptional craftsmanship. This growth is driven by several factors, including the region's high disposable incomes, a strong culture of luxury consumption, and the increasing influx of tourists seeking luxury shopping experience. Overall, the GCC luxury goods market is poised for steady growth, driven by the region's economic prosperity, cultural affinity for luxury, and the continuous influx of high-spending tourists. Recent developments include: March 2022: The Italian House of Gucci, a subsidiary of Kering Group, was newly launched in the United Arab Emirates. The brand's new launch featured its glittering high jewelry pieces encompassing necklaces, rings, and bracelets., July 2021: Capri Holdings's Versace opened a new store at the Galleria Al Maryah Island in Abu Dhabi, adding to the mall's diverse portfolio and solidifying its status as the city's prominent spot for luxury shopping., April 2021: The Alshaya franchise company built the first Aerie store in the Middle East in Kuwait, a premium clothing division of American Eagle. The shop sells clothing, women's swimwear, sweat-ready activewear, loungewear, and intimate wear.. Key drivers for this market are: Fast Fashion Trend, Inflating Income Level of Individuals. Potential restraints include: The Presence Of Counterfeit Products. Notable trends are: Increasing Use of E-commerce Platform for Buying Luxury Goods.

The Report Covers Global Luxury Goods Market Growth & Statistics and is segmented by Product Type (Clothing and Apparel, Footwear, Bags, Jewelry, Watches, and Other Product Types) and by Distribution Channel (Offline Retail Channel and Online Retail Channel). The report offers the market sizes and values in USD million during the forecast period for the abovementioned segments.

Malaysia Luxury Goods Market is segmented by Type (Clothing and Apparel, Footwear, Bags, Jewelry, Watches, and Other Accessories); and Distribution Channel (Single-brand Stores, Multi-brand Stores, Online Stores, and Other Distribution Channels). The report offers market size and forecasts in value (USD million) for all the above segments.

The report covers Luxury Brands in Spain and is segmented by Type (Clothing and Apparel, Footwear, Bags, Jewelry, Watches, and Other Accessories); by Distribution Channel (Single-brand Stores, Multi-brand Stores, Online Stores, and Other Distribution Channels).

The value of the luxury goods market in South Korea stood at around 22 trillion South Korean won in 2023, a further increase compared to the previous year. This continued the overall trend of the growing luxury market in South Korea. That year, retail sales of foreign luxury goods experienced a further increase, reflecting the growing interest in high-end products. Spending on luxury goods The average spending per person in department stores, where high-end products are sold in either brand corners or in the department store’s general items section, has increased significantly during recent years. Luxury brand goods still recorded the sales growth among all products sold in department stores. At the same time, the trend of increasing sales and consumption was not only found in brick-and-mortar stores, but it spilled over into the e-commerce landscape as well. Correspondingly, spending on luxury shopping platforms had almost tripled in 2021, compared to two years ago. What luxury items do South Koreans buy? The interest of South Koreans in all kinds of luxury articles has increased, but handbags were still the most likely to be purchased. They are not only seen as a fashion item but also as a possible investment. This was due to high-end brand items being less likely to lose their value, even during the financially insecure times that developed during the COVID-19 pandemic. Therefore, picking an item with a brand value that would not change for a long time was an important criterion for luxury articles. Also, many South Koreans see luxury goods as an indicator of succesfully climbing the social ladder, and as such they have become a well-established status symbol.