In 2020, the United States was the top ranked personal luxury goods market with an estimated market value of about ** billion euros.Luxury GoodsThe 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.As of 2020, LVMH (Louis Vuitton Moet Hennessy) was the most valuable luxury brand in the world, with a brand value of about ***** billion U.S. dollars.

Comparing the ** selected regions regarding the revenue in the luxury goods market, China is leading the ranking (** billion U.S. dollars) and is followed by Japan with **** billion U.S. dollars. At the other end of the spectrum is Pakistan with *** billion U.S. dollars, indicating a difference of **** billion U.S. dollars to China. Find other insights concerning similar markets and segments, such as a ranking by country regarding revenue in the luxury leather goods segment of the luxury goods market and a ranking by country regarding revenue in the luxury watches & jewelry segment of the luxury goods market. The Statista Market Insights cover a broad range of additional markets.

Over the last *** observations, the revenue is forecast to significantly increase in all regions. From the selected regions, the ranking by revenue in the luxury goods market is forecast to be led by China with ***** billion U.S. dollars. In contrast, the ranking is trailed by Germany with **** billion U.S. dollars, recording a difference of ***** billion U.S. dollars to China. Find other insights concerning similar markets and segments, such as a comparison of revenue in Asia and a comparison of revenue in Singapore. The Statista Market Insights cover a broad range of additional markets.

Concerning the five selected segments, the segment Luxury Watches & Jewelry has the largest revenue with ***** billion U.S. dollars. Contrastingly, Luxury Eyewear is ranked last, with ***** billion U.S. dollars. Their difference, compared to Luxury Watches & Jewelry, lies at ****** billion U.S. dollars. Find other insights concerning similar markets and segments, such as a ranking by country regarding revenue in the luxury watches & jewelry segment of the luxury goods market and a ranking by country regarding revenue in the luxury leather goods segment of the luxury goods market.The Statista Market Insights cover a broad range of additional markets.

From the selected regions, the ranking by revenue in the 'Luxury Fashion' segment of the luxury goods market is led by China with ** billion U.S. dollars and is followed by Japan (*** billion U.S. dollars). In contrast, the ranking is trailed by Pakistan with ****** million U.S. dollars, recording a difference of **** billion U.S. dollars to China. Find other insights concerning similar markets and segments, such as a ranking by country regarding revenue in the prestige cosmetics & fragrances segment of the luxury goods market and a ranking by country regarding revenue in the luxury leather goods segment of the luxury goods market. The Statista Market Insights cover a broad range of additional markets.

The Tata Group of companies was the most valuable brand in India with a value of around **** billion U.S. dollars in 2025. At over ** billion dollars, Infosys came ****** in the ranking, followed by HDFC Bank. Tata Group's dominance in the market was evident in its ability to consistently rank among the 100 leading brands in the world and remain India's most valuable brand over the years. Brand value versus brand strength While brand revenue is an important indicator for a company, the brand strength index is a crucial driver of the brand value. Also known as BSI, the brand strength index is calculated using a scorecard of metrics assessing the company's marketing investment, stakeholder equity and overall business performance. On that front India’s telecom services disruptor, Reliance Jio, was the country’s strongest brand in 2019 with a brand strength index of ** points out of 100. Part of the Reliance Group, Jio was a new entrant in the listing, and yet managed to be the biggest contender to other more established brands in the country. The strongest brands lie in engineering With Jio’s challenging lead, the telecom sector rounded up the *** most valuable brands in India. Engineering and construction companies took over ** percent of the total brand value share, while the banking sector claimed stakes to **** percent of the Indian market. Globally, the Italian luxury sports car manufacturer, Ferrari claimed the title of the world’s strongest brand, with a score of **** out of 100 and an AAA+ rating.

The per capita consumer spending on clothing and footwear ranking is led by Luxembourg with ******** U.S. dollars, while Norway is following with ******** U.S. dollars. In contrast, Burundi is at the bottom of the ranking with **** U.S. dollars, showing a difference of ******** U.S. dollars to Luxembourg. Consumer spending, in this case per capita spending concerning clothing and footwear, refers to the domestic demand of private households and non-profit institutions serving households (NPISHs). Spending by corporations and the state is not included. The forecast has been adjusted for the expected impact of COVID-19.Consumer spending is the biggest component of the gross domestic product as computed on an expenditure basis in the context of national accounts. The other components in this approach are consumption expenditure of the state, gross domestic investment as well as the net exports of goods and services. Consumer spending is broken down according to the United Nations' Classification of Individual Consumption By Purpose (COICOP).The shown data adheres broadly to group **. As not all countries and regions report data in a harmonized way, all data shown here has been processed by Statista to allow the greatest level of comparability possible. The underlying input data are usually household budget surveys conducted by government agencies that track spending of selected households over a given period.The data is shown in nominal terms which means that monetary data is valued at prices of the respective year and has not been adjusted for inflation. For future years the price level has been projected as well. The data has been converted from local currencies to US$ using the average exchange rate of the respective year. For forecast years, the exchange rate has been projected as well. The timelines therefore incorporate currency effects.

According to the ranking of the most valuable clothing and apparel brands in the world, Louis Vuitton ranked first in 2024. The French company's brand value amounted to approximately 2.4 billion U.S. dollars more than second-placed Nike. French luxury With five out of the 10 most valuable clothing brands, France was represented more than any other country in the ranking, with none other having more than one brand in the top 10. All five of the French brands operate within the luxury segment, the largest being Moët Hennessy Louis Vuitton (LVMH). This kind of dominance is what earned France its position at the top of a ranking of the leading countries for the fashion industry in 2022. Uniqlo Most of the 10 brands in the ranking grew their value from 2022 to 2024. The Japanese fast fashion retailer, Uniqlo, however, dropped out of the top ten. Uniqlo provides the vast majority of Fast Retailing’s sales, generating a revenue of approximately 890 billion Japanese yen in the financial year 2023.

This statistic depicts the brand value of the leading 10 most valuable luxury brands worldwide in 2024. In that year, Chanel was the third most valuable luxury brand worldwide with a brand value of about ** billion U.S. dollars.Luxury goodsThe 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 and it was estimated to continue to be the leading personal luxury goods market in 2024, with a value of ** billion euros. LVMH (Louis Vuitton Moet Hennessy) was the most valuable luxury brand in the world, with a brand value of about *** billion U.S. dollars in 2024. The LVMH Group's total revenue for the 2023 fiscal year was about ** billion euros. Moët Hennessy Louis Vuitton, more commonly referred to as LVMH Group, is a French luxury goods conglomerate. The company is primarily known for its fashion house, known as Louis Vuitton, named after its founder. The conglomerate operates globally, selling luxury leather goods, handbags, ready-to-wear fashion, and other fashion accessories. Since 1989, the company has been run by Frenchman Bernard Arnault, following the merger of the luxury goods producer with champagne producer Moët & Chandon and cognac manufacturer Hennessy.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.

The most popular luxury brands among Great Britain adults as of the first quarter of 2025 were British heritage brand for fashion and outerwear Barbour, receiving a ** percent approval rate from respondents. How is the luxury goods sector shaped in the UK? UK's luxury goods market had an estimated revenue of ** billion euros in 2024. Luxury fashion makes up the largest revenue, and is projected to grow from 6*** billion euros in 2024 to *****billion euros by 2029. That said, the UK is not among the top five countries where the luxury goods revenues are the highest. Luxury goods purchasing behavior in Europe Among affluent luxury shoppers across Europe (including the UK, both physical stores of brands and online channels were equally key purchase channels. In a survey conducted in the fourth quarter of 2022, physical stores were still found to be the primary channel for luxury brand and service purchases. Increasingly, for the same consumer, sustainability is becoming a key factor when buying goods and services from luxury companies. Around ** percent of consumers saw sustainable luxury, or brands adoptiong ESG principles as important.

According to the latest results of IFDAQ's Global Cities Consumer IPX (Index), by 2030 Paris is expected to become the leading city for fashion, with an index value of ***** points. IFDAQ's forecast for 2030 put New York and London in the second and third place, respectively.The index measures global cities taking into account factors such as GDP, brand presence, wealth, consumption and creative power.

In a survey conducted with global consumers in early 2022, Chanel came out as the most sustainable luxury fashion brand. In addition to around 18 percent of consumers who viewed Chanel as a sustainable brand, one third of surveyed consumers thought Chanel's ESG efforts made the brand a leader in the luxury fashion industry.

Sustainability and the luxury consumers

With the climate crisis looming, sustainability and environmental awareness is becoming important topics for both luxury brands and luxury consumers. For example, the results of a recent survey showed that for over half of the luxury shoppers in Europe, the adoption of sustainable luxury policies (such as environmental protection, social responsibility, and ethical behavior) by luxury brands was very important. Moreover, Asian luxury consumers were willing to pay more for products that position themselves as sustainable luxury compared to mainstream products. However, over a third of consumers worldwide still does not believe that luxury brands are more respectful of the environment than other brands in the apparel, fashion, and accessories industry.

A changing economic landscape

Sustainability concerns of the consumers are changing the economic landscape of luxury goods shopping as more and more consumers are opting for renting or buying secondhand luxury goods. The total value of the secondhand luxury goods market was around five billion U.S. dollars in 2021. According to the forecasts, this market could grow substantially in the coming years.

Moët Hennessy Louis Vuitton (LVMH) was the leading company in France by market capitalization as of October 2024, with a valuation of approximately ***** billion U.S. dollars. Hermès and L'Oréal followed, with market capitalizations of ****** billion and ****** billion U.S. dollars, respectively. Luxury goods market in France France is globally renowned for its rich history and numerous high-end fashion brands in the luxury goods market. For example, Chanel was among the world’s most recognized luxury brands in 2022, among other French brands such as Louis Vuitton, Dior, and Hermes. Moreover, France ranks among the biggest five markets for luxury goods in the world, and the sector’s revenue in the country is expected to exceed ** billion U.S. dollars by 2025. LVMH: the world’s leading luxury company LVMH is a French luxury goods conglomerate operating across various sectors, including fashion and leather goods, perfumes and cosmetics, jewelry and watches, and wines and spirits. As the largest French company in the world, LVMH group's total revenue was over ** billion euros in 2023. Almost half of the revenue came from their business in the fashion and leather segment, which amounted to 42.16 billion euros in 2023.

According to the latest results of IFDAQ's Global Fashion & Luxury Cities index, New York was the leading fashion and luxury city worldwide in the first quarter of 2021, with an index value of ******. Paris and Milan followed New York in the list, with index values of ****** and ******, respectively.

In 2024, the European Union was the leading importer of apparel worldwide, with an import value of around 210 billion U.S. dollars. The United States, ranked second, imported approximately 92 billion U.S. dollars worth of apparel that year. How much is the global apparel market worth? The revenue of the global apparel market stood at an estimated 1.8 trillion U.S. dollars in 2024, and is forecast to grow continuously between 2024 and 2029 by a total of 250 billion dollars – an increase of about 14 percent. The United States was the world’s largest consumer of fashion goods in the same year, with an overall revenue of about 359 billion U.S. dollars. China, followed closely with around 328 billion dollars. In Europe, the United Kingdom took the cake at around 86 billion dollars, while Germany led within the European Union at 73.5 billion dollars. Top fashion brands worldwide Nike took the top spot in 2023 as the most valuable apparel company worldwide, boasting an estimated brand value of 31.3 billion U.S. dollars. This figure placed Nike approximately five billion dollars ahead of second-ranked French luxury fashion house Louis Vuitton. Known for its iconic ‘Swoosh’ logo and ‘Just Do It’ slogan, Nike generated a whopping 51.4 billion U.S. dollars globally in 2024, a new record-breaking figure in its history. Over 40 percent of these sales came from the United States, which remains its core market.

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.

As of August 2024, the sales value of clothing in Thailand amounted to approximately *** billion Thai baht. In comparison, the sales value of purses in the country amounted to around ** million Thai baht for that same period. Consumers in Thailand are more inclined to make purchases through online channels for apparel and accessories. Fashion trends in Thailand Apparel and fashion become significant forms of self-expression among Thai consumers, allowing them to convey their individuality through fashion that fits their lifestyles. For instance, as Thai consumers are becoming more aware of health and physical wellness, the demand for fashionable sportswear increases. Whereas the demand for luxury items is also on the rise as Thailand ranked ***** for sales value of luxury fashion in the Asia Pacific region. On the other hand, some Thai consumers are moving towards more sustainable brands of clothing. Traditional Thai textile materials such as Thai silk have been incorporated into luxury brands. The role of the internet for the apparel industry Online activities have played a major role in driving the demand and supply of apparel sales in Thailand. Major brands take advantage of online marketing through social media platforms. ********* led with the highest share of influencer marketing campaigns by the fashion and beauty industry in Thailand. Thai influencers have played a major part in motivating consumers to purchase clothes and apparel, while also acting as a source for beauty trends. Additionally, e-commerce has provided consumers with convenient channels to purchase apparel and accessories online. The e-commerce revenue of apparel and footwear combined almost reached * billion U.S. dollars in 2023.

All the listed major luxury fashion labels saw their sales in Russia decline in 2022, as some of them limited their operations in Russia due to the war in Ukraine. In 2023, Hugo Boss led the ranking with a revenue of around *** billion Russian rubles, followed by Bogner. Chanel's revenue was measured at *********** Russian rubles, down ** percent from the previous year.

In Europe, LVMH was the leading consumer goods company based on market capitalization, whose market cap reached *** billion US dollars in March 31, 2024. Textile, cosmetics and luxury lift the European consumer goods landscapeNext to LVMH, Hermés is another luxury brand that ranks among the top five European companies in terms of market capitalization. The French luxury group had a market cap of *** billion euros by the end of March 2024. Spain's Inditex also performed highly in the market, reaching over *** billion euros. Inditex's global revenue soared in 2023. LVMH deep diveIn April 2023, LVMH Group had become the first European company to exceed a market cap of *** billion euros. Since then the market value of the company stabilized below that level, but the luxury conglomorate continues to be the most successful consumer business in the continent. Parent to many luxury brands including Louis Vitton, Möet, Givency and Christion Dior, LMVH generates the highest revenue from its fashion and leather products. Other than this, the group's product range include cosmetics, wines and spirits, watches and jewelry.