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Luxury Goods in Turkey

  • ID: 2587124
  • Report
  • January 2020
  • Region: Turkey
  • 84 pages
  • Euromonitor International
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Despite luxury goods recording a decrease in growth in 2019, several factors benefited the landscape. Firstly, despite geopolitical instability, global luxury players continued to invest in the Turkish landscape, due to both consumer demand and the continued reliable performance of luxury goods in the country. Secondly, the rapid depreciation of the Turkish lira against the dollar, meant that several luxury products were a lot cheaper for tourists to purchase in Turkey

The Luxury Goods in Turkey report offers a comprehensive guide to the size and shape of the Luxury Goods market at a national level. It provides the latest retail sales data, allowing you to identify the sectors driving growth. It identifies the leading companies, the leading brands and offers strategic analysis of key factors influencing the market and their effects on Luxury Goods retailing along with the development of consumers’ shopping patterns. Forecasts to 2024 illustrate how the market is set to change.

Product coverage: Experiential Luxury, Fine Wines/Champagne and Spirits, Personal Luxury, Premium and Luxury Cars.

Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.

Why buy this report?
  • Get a detailed picture of the Luxury Goods market;
  • Pinpoint growth sectors and identify factors driving change;
  • Understand the competitive environment, the market’s major players and leading brands;
  • Use five-year forecasts to assess how the market is predicted to develop.
Note: Product cover images may vary from those shown
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List of Contents and Tables
  • Executive Summary
  • Despite A Decline in Growth, the Increase in Tourism, the Rise of Men's Apparel and the Opening of New Luxury Stores, Positively Benefited Luxury Goods
  • the Growing Health and Wellness Trend, Customisation and A Desire for Co-ordinated Outfits Shapes Luxury Offerings
  • Luxury Car Players Led the Landscape, As Competitors Launch Limited-edition Products To Gain Value Share
  • Store-based Retailing Remains the Dominant Distribution Channel, However, Internet Purchases Are on the Rise
  • Growth Is Predicted To Increase Over the Forecast Period, Driven by Women in the Workforce and Growth of Luxury Cars
  • Market Indicators
  • Table 1 Number of High Net Worth Individuals (HNWI): 2014-2019
  • Market Data
  • Table 2 Sales of Luxury Goods by Category: Value 2014-2019
  • Table 3 Sales of Luxury Goods by Category: % Value Growth 2014-2019
  • Table 4 Inbound Receipts for Luxury Goods by Country of Origin: Value 2014-2019
  • Table 5 NBO Company Shares of Luxury Goods: % Value 2014-2018
  • Table 6 LBN Brand Shares of Luxury Goods: % Value 2015-2018
  • Table 7 Distribution of Luxury Goods by Format and Category: % Value 2019
  • Table 8 Forecast Sales of Luxury Goods by Category: Value 2019-2024
  • Table 9 Forecast Sales of Luxury Goods by Category: % Value Growth 2019-2024
  • Sources
  • Summary 1 Research Sources
  • Headlines
  • Prospects
  • An Increase in Spending on Experiences Rather Than Products Drives Growth
  • Several International Luxury Restaurants Fail in the Landscape, With High Rents and Poor Location Choices Seeing Many Close Their Doors
  • the Growing Health and Wellness Trend Shapes the Landscape, As Players Respond To Consumers Health Demands
  • Competitive Landscape
  • Luxury Hotels Continue To Open in Turkey As Four Seasons Expands
  • the Luxury Collection Opens A Hotel in Izmir, the Third of Its Kind in the Country
  • Businessman Tayfun Topal Offers Italian Cuisine Through Luxury Restaurant, Galvin
  • Category Data
  • Table 10 Sales of Experiential Luxury by Category: Value 2014-2019
  • Table 11 Sales of Experiential Luxury by Category: % Value Growth 2014-2019
  • Table 12 NBO Company Shares of Experiential Luxury: % Value 2014-2018
  • Table 13 LBN Brand Shares of Experiential Luxury: % Value 2015-2018
  • Table 14 Forecast Sales of Experiential Luxury by Category: Value 2019-2024
  • Table 15 Forecast Sales of Experiential Luxury by Category: % Value Growth 2019-2024
  • Headlines
  • Prospects
  • Tourism Drives Growth in Luxury Hotels, As Istanbul's New Airport Boosts Tourism
  • Marketing and Promotional Activities Drive Sales While Focusing on New Source Countries
  • Six Senses Renovate Historic Mansions To Create A Luxury Hotel in the Bosphorus
  • Competitive Landscape
  • Competition Remains Fragmented in Luxury Hotels, But Dogus Holding As Retains Its Lead
  • Kuzu Group's Hotel Seapearl Ataköy Offers A Luxury Experience for Over 700 Residents in Istanbul
  • Titanic Group Add A Fifteenth Hotel As They Plan A New Luxury Facility for 2022
  • Category Data
  • Table 16 Sales in Luxury Hotels: Value 2014-2019
  • Table 17 Sales in Luxury Hotels: % Value Growth 2014-2019
  • Table 18 Sales in Luxury Hotels by Country of Origin: % Value 2014-2019
  • Table 19 NBO Company Shares in Luxury Hotels: % Value 2014-2018
  • Table 20 LBN Brand Shares in Luxury Hotels: % Value 2015-2018
  • Table 21 Forecast Sales in Luxury Hotels: Value 2019-2024
  • Table 22 Forecast Sales in Luxury Hotels: % Value Growth 2019-2024
  • Headlines
  • Prospects
  • Excise Taxes Hamper Sales, Whereas An Increase in Tourism Boosts Growth
  • Higher Unit Prices Drive Value Growth, But Threaten Sales Over the Forecast Period
  • Manufacturers Focus on Higher Quality Products As Consumers Demand Single Malt Whiskies and Gin
  • Competitive Landscape
  • Fine Wines/champagne and Spirits Remains A Fragmented Landscape, As Players Offer Limited Edition Bottles in An Attempt To Cut-through
  • As Advertisements for Alcoholic Drinks Are Banned in Turkey, Players Focus on Their International Websites To Boost Awareness
  • Consumers Purchase Fine Wines/champagne and Spirits in Duty-free Shops Or Abroad, To Avoid Paying High Amounts of Tax
  • Category Data
  • Table 23 Sales of Fine Wines/Champagne and Spirits by Category: Value 2014-2019
  • Table 24 Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2014-2019
  • Table 25 NBO Company Shares of Fine Wines/Champagne and Spirits: % Value 2014-2018
  • Table 26 LBN Brand Shares of Fine Wines/Champagne and Spirits: % Value 2015-2018
  • Table 27 Distribution of Fine Wines/Champagne and Spirits by Format: % Value 2014-2019
  • Table 28 Forecast Sales of Fine Wines/Champagne and Spirits by Category: Value 2019-2024
  • Table 29 Forecast Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2019-2024
  • Headlines
  • Prospects
  • Growth Decreases As the Exchange Rate Rises, Making Luxury Cars More Expensive for Consumers
  • Luxury Car Models Boost Sales and Interest in Hybrid Cars, While Suvs Are A Success in Turkey
  • Luxury Car Makers Continue To Expand Their Operations in Turkey
  • Competitive Landscape
  • Mercedes-benz Leads Luxury Cars, As the Mercedes Benz-e Model Performs Well in 2019
  • New Retail Concepts Are Used To Push Awareness and Value Sales of Luxury Cars
  • Second-hand Luxury Cars Continue To Be A Threat To the Value Sales and Growth of Luxury Cars
  • Category Data
  • Table 30 Sales of Premium and Luxury Cars: Value 2014-2019
  • Table 31 Sales of Premium and Luxury Cars: % Value Growth 2014-2019
  • Table 32 NBO Company Shares of Premium and Luxury Cars: % Value 2014-2018
  • Table 33 LBN Brand Shares of Premium and Luxury Cars: % Value 2015-2018
  • Table 34 Forecast Sales of Premium and Luxury Cars: Value 2019-2024
  • Table 35 Forecast Sales of Premium and Luxury Cars: % Value Growth 2019-2024
  • Headlines
  • Prospects
  • Younger Consumers and Digital Strategies Drive the Growth of Personal Luxury
  • Foreign Tourists Boost Value Sales of Personal Luxury As They Take Advantage of the Lower Price-points
  • Economic Downturn Is A Potential Threat To the Growth of Personal Luxury Goods
  • Competitive Landscape
  • Boyner Holding As and Investment Firm Mayhoola Terminate Their Partnership and Share Boyner Retail's Existing Portfolio
  • Leading Personal Luxury Players To Benefit From the Opening of New Outlets Across Turkey
  • the Fierce Competitive Landscape Encourages Several Players To Offer Discounts To Consumers
  • Category Data
  • Table 36 Sales of Personal Luxury by Category: Value 2014-2019
  • Table 37 Sales of Personal Luxury by Category: % Value Growth 2014-2019
  • Table 38 NBO Company Shares of Personal Luxury: % Value 2014-2018
  • Table 39 LBN Brand Shares of Personal Luxury: % Value 2015-2018
  • Table 40 Distribution of Personal Luxury by Format: % Value 2014-2019
  • Table 41 Forecast Sales of Personal Luxury by Category: Value 2019-2024
  • Table 42 Forecast Sales of Personal Luxury by Category: % Value Growth 2019-2024
  • Headlines
  • Prospects
  • Turkey Manufactures Apparel, and Also Offers A Host of Local Designers
  • Designers Collaborate With Both High-street and Luxury Offerings, Boosting Value Sales Through Innovative Ranges
  • Designer Goods for Men Drive Growth, and the Health and Wellness Trend Boosts Value Sales in Luxury Athleisure
  • Competitive Landscape
  • Several New Luxury Stores Opened Inside the New Istanbul Airport
  • Balmain and Eleventy Open Their First Stores in Turkey, Offering Luxury Items To Consumers
  • Advertising and Promotional Tools Include Social Media Campaigns and Event Sponsorship
  • Category Data
  • Table 43 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2014-2019
  • Table 44 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: % Value Growth 2014-2019
  • Table 45 NBO Company Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2014-2018
  • Table 46 LBN Brand Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2015-2018
  • Table 47 Distribution of Designer Apparel and Footwear (Ready-to-Wear) by Format: % Value 2014-2019
  • Table 48 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2019-2024
  • Table 49 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: % Value Growth 2019-2024
  • Headlines
  • Prospects
  • the Demand for Expensive Add-ons and Products Drives Up Value Sales of Luxury Eyewear
  • An Increasing Number of Consumers Are Using Sunglasses As An Accessory To Match Their Overall Outfits, Boosting Value Sales
  • Optical Shops Remain the Leading Distribution Channel However Internet Sales Are on the Rise
  • Competitive Landscape
  • Luxottica Gözlük End Ve Tic As Retains Its Lead in Luxury Eyewear, As It Confirms Its Merger With Essilor
  • Counterfeit Products Are A Major Threat, Especially When It Comes To Luxury Sunglasses
  • Elie Saab Becomes Available in Turkey, Offering Both Luxury Specialist Frames and Luxury Sunglasses
  • Category Data
  • Table 50 Sales of Luxury Eyewear by Category: Value 2014-2019
  • Table 51 Sales of Luxury Eyewear by Category: % Value Growth 2014-2019
  • Table 52 NBO Company Shares of Luxury Eyewear: % Value 2014-2018
  • Table 53 LBN Brand Shares of Luxury Eyewear: % Value 2015-2018
  • Table 54 Distribution of Luxury Eyewear by Format: % Value 2014-2019
  • Table 55 Forecast Sales of Luxury Eyewear by Category: Value 2019-2024
  • Table 56 Forecast Sales of Luxury Eyewear by Category: % Value Growth 2019-2024
  • Headlines
  • Prospects
  • Affordable Luxury Drives Growth, Especially in Time of Economic Hardship
  • Luxury Costume Jewellery Continues To Outperform Luxury Fine Jewellery
  • Players Appeal To Younger Consumers Through Showcasing Their Ethical Credentials
  • Competitive Landscape
  • Domestic Luxury Jewellery Players Benefit From Widespread Availability and Offering Quality Products
  • New Ranges From Cartier and Swarovski, With Unexpected Materials and Unique Positions
  • Competitors Focus on Ethical Issues To Gain Value Sales and Consumer Trust
  • Category Data
  • Table 57 Sales of Luxury Jewellery by Category: Value 2014-2019
  • Table 58 Sales of Luxury Jewellery by Category: % Value Growth 2014-2019
  • Table 59 NBO Company Shares of Luxury Jewellery: % Value 2014-2018
  • Table 60 LBN Brand Shares of Luxury Jewellery: % Value 2015-2018
  • Table 61 Distribution of Luxury Jewellery by Format: % Value 2014-2019
  • Table 62 Forecast Sales of Luxury Jewellery by Category: Value 2019-2024
  • Table 63 Forecast Sales of Luxury Jewellery by Category: % Value Growth 2019-2024
  • Headlines
  • Prospects
  • Women's Luxury Bags and Small Leather Goods Continues To Perform Particularly Well, As More Turkish Women Enter the Workforce
  • Luxury Travel Goods Recorded the Most Growth in 2019 As Consumers Prefer Larger Travel Bags Than Check-in Baggage
  • Foreign Tourists Increase Sales of Luxury Leather As Prices Are Much Lower Than in Europe
  • Competitive Landscape
  • the Opening of Luxury Stores Boosts Value Sales of Luxury Leather Goods in 2019
  • Counterfeit Bags and Luggage Are A Threat To the Value Sales of Luxury Leather Goods
  • Boyner Holdings and Mayhoola Terminate Their Financial Partnership and Share Boyner Retail's Existing Company Portfolio
  • Category Data
  • Table 64 Sales of Luxury Leather Goods: Value 2014-2019
  • Table 65 Sales of Luxury Leather Goods: % Value Growth 2014-2019
  • Table 66 NBO Company Shares of Luxury Leather Goods: % Value 2014-2018
  • Table 67 LBN Brand Shares of Luxury Leather Goods: % Value 2015-2018
  • Table 68 Distribution of Luxury Leather Goods by Format: % Value 2014-2019
  • Table 69 Forecast Sales of Luxury Leather Goods: Value 2019-2024
  • Table 70 Forecast Sales of Luxury Leather Goods: % Value Growth 2019-2024
  • Headlines
  • Prospects
  • Luxury Watchmakers Launch Luxury Wearables To Remain Relevant in the Landscape
  • Wealthy Tourists Buy A Significant Share of Luxury Mobile Phones Sold in Turkey
  • Luxury Wearables Continues To Evolve Into Fashionable Accessories
  • Competitive Landscape
  • Louis Vuitton Smartwatch Gets An Upgrade As Its Powered by Qualcomm's Newest Wearable Chip
  • Tag Heuer International Led Luxury Portable Consumer Electronics, Thanks To Strong Marketing Campaigns and Wide Availability
  • Following Its Tag Heuer Connected Modular 45 App for Golfers, Tag Heuer Is Set To Launch Its Next Innovation in 2020
  • Category Data
  • Table 71 Sales of Luxury Portable Consumer Electronics by Category: Value 2014-2019
  • Table 72 Sales of Luxury Portable Consumer Electronics by Category: % Value Growth 2014-2019
  • Table 73 NBO Company Shares of Luxury Portable Consumer Electronics: % Value 2014-2018
  • Table 74 LBN Brand Shares of Luxury Portable Consumer Electronics: % Value 2015-2018
  • Table 75 Distribution of Luxury Portable Consumer Electronics by Format: % Value 2014-2019
  • Table 76 Forecast Sales of Luxury Portable Consumer Electronics by Category: Value 2019-2024
  • Table 77 Forecast Sales of Luxury Portable Consumer Electronics by Category: % Value Growth 2019-2024
  • Headlines
  • Prospects
  • the Rise of Affordable Luxury Boosts Value Sales of Luxury Timepieces
  • Players Attract Millennials Through Social Media Strategies That Partner With Influencers and Bloggers
  • the Rise of Unit Prices Lead To Heightened Value Sales and Increased Growth
  • Competitive Landscape
  • New Launches in 2019 Include Unconventional Designs, Innovation and Personalisation
  • Luxury Players Focus on Their Heritage As They Tempt Consumers With Limited-edition Offerings
  • Sportspeople Wear Luxury Timepieces As Players Pay High Sums To Have Their Products Promoted
  • Category Data
  • Table 78 Sales of Luxury Timepieces by Category: Value 2014-2019
  • Table 79 Sales of Luxury Timepieces by Category: % Value Growth 2014-2019
  • Table 80 NBO Company Shares of Luxury Timepieces: % Value 2014-2018
  • Table 81 LBN Brand Shares of Luxury Timepieces: % Value 2015-2018
  • Table 82 Distribution of Luxury Timepieces by Format: % Value 2014-2019
  • Table 83 Forecast Sales of Luxury Timepieces by Category: Value 2019-2024
  • Table 84 Forecast Sales of Luxury Timepieces by Category: % Value Growth 2019-2024
  • Headlines
  • Prospects
  • Luxury Players Increase the Desire for Their Products Through Using Diamond, Gold and Platinum Features
  • Customisation and Personalisation Are Key Trends That Drive Sales in 2019
  • the Heavy Usage of Electronic Devices Such As Smartphones, Threatens Growth
  • Competitive Landscape
  • Montblanc Retained Its Lead in Luxury Writing Instruments and Stationary, Benefiting From A Strong Heritage, Reputation and Consumer Awareness
  • There Is A Rising Popularity of Limited Edition Writing Instruments As Montblanc Continued Offering Their Writer's Edition
  • New Launches From the Leading Player As Montblanc Offers Disney and the Little Prince Themed Pens
  • Category Data
  • Table 85 Sales of Luxury Writing Instruments and Stationery: Value 2014-2019
  • Table 86 Sales of Luxury Writing Instruments and Stationery: % Value Growth 2014-2019
  • Table 87 NBO Company Shares of Luxury Writing Instruments and Stationery: % Value 2014-2018
  • Table 88 LBN Brand Shares of Luxury Writing Instruments and Stationery: % Value 2015-2018
  • Table 89 Distribution of Luxury Writing Instruments and Stationery by Format: % Value 2014-2019
  • Table 90 Forecast Sales of Luxury Writing Instruments and Stationery: Value 2019-2024
  • Table 91 Forecast Sales of Luxury Writing Instruments and Stationery: % Value Growth 2019-2024
  • Headlines
  • Prospects
  • A Decrease in Value Sales From Domestic Customers was Offset by An Increase in Sales From Tourists
  • Players Focus on Eco-friendly Credentials To Respond To the Demand of Consumers
  • Luxury Cosmetic Players Keep Costs Affordable To Retain Consumers
  • Competitive Landscape
  • L'Oréal Groupe Avoids Passing on Costs To Consumers, in Favour of Maintaining High Levels of Value Sales
  • Boyner Ran A Cosmetic Campaign, Offerings High Discounts and Promotions on Well-known Luxury Players
  • Digital Promotion and E-commerce Is on the Rise, However, Online Counterfeit Items Are A Threat To Sales
  • Category Data
  • Table 92 Sales of Super Premium Beauty and Personal Care by Category: Value 2014-2019
  • Table 93 Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2014-2019
  • Table 94 NBO Company Shares of Super Premium Beauty and Personal Care: % Value 2014-2018
  • Table 95 LBN Brand Shares of Super Premium Beauty and Personal Care: % Value 2015-2018
  • Table 96 Distribution of Super Premium Beauty and Personal Care by Format: % Value 2014-2019
  • Table 97 Forecast Sales of Super Premium Beauty and Personal Care by Category: Value 2019-2024
  • Table 98 Forecast Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2019-2024
Note: Product cover images may vary from those shown
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