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Luxury Goods in Italy

  • ID: 2587221
  • Report
  • December 2021
  • Region: Italy
  • 98 Pages
  • Euromonitor International
Having plunged by more than a quarter during 2020, retail current value sales of luxury goods will exhibit a modest rebound during 2021, with premium and luxury cars the top performer, followed by super premium beauty and personal care. The pandemic continued to disrupt the lifestyles of affluent Italians during 2021, particularly during the early part of the year.

The publisher's Luxury Goods in Italy 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 2025 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

EXECUTIVE SUMMARY
  • Luxury goods in 2021: The big picture
  • 2021 key trends
  • Competitive landscape
  • Retailing developments
  • What next for luxury goods?

MARKET DATA
  • Table 1 Sales of Luxury Goods by Category: Value 2016-2021
  • Table 2 Sales of Luxury Goods by Category: % Value Growth 2016-2021
  • Table 3 Inbound Receipts for Luxury Goods by Country of Origin: Value 2016-2021
  • Table 4 NBO Company Shares of Luxury Goods: % Value 2016-2020
  • Table 5 LBN Brand Shares of Luxury Goods: % Value 2017-2020
  • Table 6 Distribution of Luxury Goods by Format and Category: % Value 2021
  • Table 7 Forecast Sales of Luxury Goods by Category: Value 2021-2026
  • Table 8 Forecast Sales of Luxury Goods by Category: % Value Growth 2021-2026

DISCLAIMER
SOURCES
  • Summary 1 Research Sources

EXPERIENTIAL LUXURY IN ITALYKEY DATA FINDINGS
2021 DEVELOPMENTS
  • Restrictions on movement, economic shock and collapse of tourism weigh heavily on demand
  • International visitors, particularly from China and the US, remain very scarce
  • Number of experiential luxury venues continues to rise

PROSPECTS AND OPPORTUNITIES
  • Recovery will be sluggish
  • Plenty of room for growth – particularly for luxury hotels
  • Making guests feel safe will remain a priority

CATEGORY DATA
  • Table 9 Sales of Experiential Luxury by Category: Value 2016-2021
  • Table 10 Sales of Experiential Luxury by Category: % Value Growth 2016-2021
  • Table 11 NBO Company Shares of Experiential Luxury: % Value 2016-2020
  • Table 12 LBN Brand Shares of Experiential Luxury: % Value 2017-2020
  • Table 13 Forecast Sales of Experiential Luxury by Category: Value 2021-2026
  • Table 14 Forecast Sales of Experiential Luxury by Category: % Value Growth 2021-2026

LUXURY FOODSERVICE IN ITALYKEY DATA FINDINGS
2021 DEVELOPMENTS
  • Vaccination campaign underlines modest recovery
  • Disruption leaves luxury foodservice with bloated inventories of fine wines
  • Urban venues are harder hit than mountain and coastal locations

PROSPECTS AND OPPORTUNITIES
  • Despite rebound in international tourism, recovery will be slow and partial
  • Operators will pay more attention to local consumers
  • Growth in the number of luxury foodservice venues will be subdued

CATEGORY DATA
  • Table 15 Sales in Luxury Foodservice: Value 2016-2021
  • Table 16 Sales in Luxury Foodservice: % Value Growth 2016-2021
  • Table 17 NBO Company Shares in Luxury Foodservice: % Value 2016-2020
  • Table 18 LBN Brand Shares in Luxury Foodservice: % Value 2017-2020
  • Table 19 Forecast Sales in Luxury Foodservice: Value 2021-2026
  • Table 20 Forecast Sales in Luxury Foodservice: % Value Growth 2021-2026

LUXURY HOTELS IN ITALYKEY DATA FINDINGS
2021 DEVELOPMENTS
  • Increased tourism drives modest rebound in retail value sales
  • City hotels have been particularly hard hit
  • In spite of the exceptionally difficult environment, the number of luxury hotels continues to grow

PROSPECTS AND OPPORTUNITIES
  • Recovery will be slow and partial, while Chinese tourists in particularly set to be slow to return
  • Marriott will be the main driver of growth in outlet numbers
  • Luxury hotels will emphasise health and wellness and gastronomy and redouble their efforts to attract international weddings

CATEGORY DATA
  • Table 21 Sales in Luxury Hotels: Value 2016-2021
  • Table 22 Sales in Luxury Hotels: % Value Growth 2016-2021
  • Table 23 NBO Company Shares in Luxury Hotels: % Value 2016-2020
  • Table 24 LBN Brand Shares in Luxury Hotels: % Value 2017-2020
  • Table 25 Forecast Sales in Luxury Hotels: Value 2021-2026
  • Table 26 Forecast Sales in Luxury Hotels: % Value Growth 2021-2026

FINE WINES/CHAMPAGNE AND SPIRITS IN ITALYKEY DATA FINDINGS
2021 DEVELOPMENTS
  • Other wine fines fare better than fine champagne and luxury spirts
  • E-commerce emerges as a significant distribution channel
  • Reduced demand leads to lower unit pricing

PROSPECTS AND OPPORTUNITIES
  • Demand will return to its pre-pandemic level by 2023
  • Retailers and producers will double down on e-commerce
  • Gin will grow in popularity in luxury spirits

CATEGORY DATA
  • Table 27 Sales of Fine Wines/Champagne and Spirits by Category: Value 2016-2021
  • Table 28 Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2016-2021
  • Table 29 NBO Company Shares of Fine Wines/Champagne and Spirits: % Value 2016-2020
  • Table 30 LBN Brand Shares of Fine Wines/Champagne and Spirits: % Value 2017-2020
  • Table 31 Distribution of Fine Wines/Champagne and Spirits by Format: % Value 2016-2021
  • Table 32 Forecast Sales of Fine Wines/Champagne and Spirits by Category: Value 2021-2026
  • Table 33 Forecast Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2021-2026

PREMIUM AND LUXURY CARS IN ITALYKEY DATA FINDINGS
2021 DEVELOPMENTS
  • Demand begins to recover from COVID-19 pounding
  • Semiconductor shortage negatively affects supply during the second half of the year
  • Pandemic forces carmakers to adapt, but they remain committed to showrooms

PROSPECTS AND OPPORTUNITIES
  • Economy recovery and revival in international tourism will spur demand
  • Growth will be electric
  • Luxury carmakers will boost connectivity in an effort to increase safety and improve the driving experience

CATEGORY DATA
  • Table 34 Sales of Premium and Luxury Cars: Value 2016-2021
  • Table 35 Sales of Premium and Luxury Cars: % Value Growth 2016-2021
  • Table 36 NBO Company Shares of Premium and Luxury Cars: % Value 2016-2020
  • Table 37 LBN Brand Shares of Premium and Luxury Cars: % Value 2017-2020
  • Table 38 Forecast Sales of Premium and Luxury Cars: Value 2021-2026
  • Table 39 Forecast Sales of Premium and Luxury Cars: % Value Growth 2021-2026

PERSONAL LUXURY IN ITALYKEY DATA FINDINGS
2021 DEVELOPMENTS
  • An improved domestic economic environment and a partial recovery in tourism drive a modest rebound in demand
  • Normalisation social life boosts demand for premium beauty and personal care
  • Designer childrenswear will be the top performer

PROSPECTS AND OPPORTUNITIES
  • Sluggish rebound in international tourism will weigh on recovery in demand for personal luxury
  • Increasing importance of Millennials and Gen Z will lead personal luxury brands to focus more on sustainability and diversity
  • E-commerce will continue to grow in importance, while brands will strive to make their stores more exclusive

CATEGORY DATA
  • Table 40 Sales of Personal Luxury by Category: Value 2016-2021
  • Table 41 Sales of Personal Luxury by Category: % Value Growth 2016-2021
  • Table 42 NBO Company Shares of Personal Luxury: % Value 2016-2020
  • Table 43 LBN Brand Shares of Personal Luxury: % Value 2017-2020
  • Table 44 Distribution of Personal Luxury by Format: % Value 2016-2021
  • Table 45 Forecast Sales of Personal Luxury by Category: Value 2021-2026
  • Table 46 Forecast Sales of Personal Luxury by Category: % Value Growth 2021-2026

DESIGNER APPAREL AND FOOTWEAR (READY-TO-WEAR) IN ITALYKEY DATA FINDINGS
2021 DEVELOPMENTS
  • Demand from mon-European tourists remains subdued – particularly from the key Chinese market
  • Demand for designer childrenswear and children’s designer footwear remains relatively resilient
  • Sharp fall in international tourism hits domestic brands particularly hard

PROSPECTS AND OPPORTUNITIES
  • Slow recovery in international tourism will continue to weigh on demand
  • Italy luxury firms appear ripe for consolidation
‘Mini-me’ trend will continue to drive strong growth in demand for designer childrenswear
CATEGORY DATA
  • Table 47 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2016-2021
  • Table 48 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: % Value Growth 2016-2021
  • Table 49 NBO Company Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2016-2020
  • Table 50 LBN Brand Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2017-2020
  • Table 51 Distribution of Designer Apparel and Footwear (Ready-to-Wear) by Format: % Value 2016-2021
  • Table 52 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2021-2026
  • Table 53 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: % Value Growth 2021-2026

LUXURY EYEWEAR IN ITALYKEY DATA FINDINGS
2021 DEVELOPMENTS
  • Economic shock of pandemic continues to weigh on demand
  • Easing of face mask rules helps to drive modest increase in demand for luxury sunglasses
  • E-commerce grows in importance as a distribution channel for luxury sunglasses but not for luxury spectacle frames

PROSPECTS AND OPPORTUNITIES
  • Subdued international tourism will hamper recovery in demand for luxury eyewear
  • E-commerce will continue to grow in importance – particularly for women’s sunglasses

LVMH/Marcolin joint venture Thelios set to be a growing presence in luxury eyewear
CATEGORY DATA
  • Table 54 Sales of Luxury Eyewear by Category: Value 2016-2021
  • Table 55 Sales of Luxury Eyewear by Category: % Value Growth 2016-2021
  • Table 56 NBO Company Shares of Luxury Eyewear: % Value 2016-2020
  • Table 57 LBN Brand Shares of Luxury Eyewear: % Value 2017-2020
  • Table 58 Distribution of Luxury Eyewear by Format: % Value 2016-2021
  • Table 59 Forecast Sales of Luxury Eyewear by Category: Value 2021-2026
  • Table 60 Forecast Sales of Luxury Eyewear by Category: % Value Growth 2021-2026

LUXURY JEWELLERY IN ITALYKEY DATA FINDINGS
2021 DEVELOPMENTS
  • Successful vaccination rollout supports modest rebound
  • Revival in weddings boosts demand for luxury fine jewellery
  • Brands are paying more attention to e-commerce

PROSPECTS AND OPPORTUNITIES
  • Glut of weddings will boost demand in 2022, but overall recovery will be gradual
  • Branding will continue to grow in importance, with sustainability of growing interest to younger consumers
  • Brands will increasingly seek to mimic the in-person shopping experience online

CATEGORY DATA
  • Table 61 Sales of Luxury Jewellery by Category: Value 2016-2021
  • Table 62 Sales of Luxury Jewellery by Category: % Value Growth 2016-2021
  • Table 63 NBO Company Shares of Luxury Jewellery: % Value 2016-2020
  • Table 64 LBN Brand Shares of Luxury Jewellery: % Value 2017-2020
  • Table 65 Distribution of Luxury Jewellery by Format: % Value 2016-2021
  • Table 66 Forecast Sales of Luxury Jewellery by Category: Value 2021-2026
  • Table 67 Forecast Sales of Luxury Jewellery by Category: % Value Growth 2021-2026

LUXURY LEATHER GOODS IN ITALYKEY DATA FINDINGS
2021 DEVELOPMENTS
  • Economic stabilisation provides a modest boost to demand
  • Demand from international tourists remains muted
  • Consumers grow more comfortable shopping online

PROSPECTS AND OPPORTUNITIES
  • Revival in international tourism will be the main driver of recovery
  • Increased female labour force participation will boost demand
  • Luxury travel goods will be the top performer – but their recovery will only be partial

CATEGORY DATA
  • Table 68 Sales of Luxury Leather Goods: Value 2016-2021
  • Table 69 Sales of Luxury Leather Goods: % Value Growth 2016-2021
  • Table 70 NBO Company Shares of Luxury Leather Goods: % Value 2016-2020
  • Table 71 LBN Brand Shares of Luxury Leather Goods: % Value 2017-2020
  • Table 72 Distribution of Luxury Leather Goods by Format: % Value 2016-2021
  • Table 73 Forecast Sales of Luxury Leather Goods: Value 2021-2026
  • Table 74 Forecast Sales of Luxury Leather Goods: % Value Growth 2021-2026

LUXURY PORTABLE CONSUMER ELECTRONICS IN ITALYKEY DATA FINDINGS
2021 DEVELOPMENTS
  • Premium features on luxury mobile phones available
  • Luxury watchmakers wake up to smart wearables
  • Due to the pandemic, e-commerce has emerged as a significant distribution channel

PROSPECTS AND OPPORTUNITIES
  • 5G will provide some support to demand for luxury smartphones
  • Luxury smart wearables and personal trainers
  • Gaming sponsorship could help to make luxury mobile phone brands more visible

CATEGORY DATA
  • Table 75 Sales of Luxury Portable Consumer Electronics by Category: Value 2016-2021
  • Table 76 Sales of Luxury Portable Consumer Electronics by Category: % Value Growth 2016-2021
  • Table 77 NBO Company Shares of Luxury Portable Consumer Electronics: % Value 2016-2020
  • Table 78 LBN Brand Shares of Luxury Portable Consumer Electronics: % Value 2017-2020
  • Table 79 Distribution of Luxury Portable Consumer Electronics by Format: % Value 2016-2021
  • Table 80 Forecast Sales of Luxury Portable Consumer Electronics by Category: Value 2021-2026
  • Table 81 Forecast Sales of Luxury Portable Consumer Electronics by Category: % Value Growth 2021-2026

LUXURY TIMEPIECES IN ITALYKEY DATA FINDINGS
2021 DEVELOPMENTS
  • Pandemic continues to weigh heavily on demand
  • With physical stores forced to close, e-commerce flourishes
  • Men’s luxury timepieces continue to dominate sales

PROSPECTS AND OPPORTUNITIES
  • Weak tourist demand will slow pace of recovery in luxury timepieces
  • Retail chains will increasingly embrace e-commerce
  • New monobrand store will help to cement Rolex’s leadership position

CATEGORY DATA
  • Table 82 Sales of Luxury Timepieces by Category: Value 2016-2021
  • Table 83 Sales of Luxury Timepieces by Category: % Value Growth 2016-2021
  • Table 84 NBO Company Shares of Luxury Timepieces: % Value 2016-2020
  • Table 85 LBN Brand Shares of Luxury Timepieces: % Value 2017-2020
  • Table 86 Distribution of Luxury Timepieces by Format: % Value 2016-2021
  • Table 87 Forecast Sales of Luxury Timepieces by Category: Value 2021-2026
  • Table 88 Forecast Sales of Luxury Timepieces by Category: % Value Growth 2021-2026

LUXURY WRITING INSTRUMENTS AND STATIONERY IN ITALYKEY DATA FINDINGS
2021 DEVELOPMENTS
  • Weak international tourism continues to weigh on demand
  • In spite of the pandemic, leaders Montblanc continues to launch new products
  • Increased use of digital devices poses a growing threat

PROSPECTS AND OPPORTUNITIES
  • The digitalisation threat will only get bigger
  • More designer apparel brands could expand into luxury writing instruments and stationery
  • Marketing will increasingly stress the creativity possibilities of luxury writing instruments and stationery

CATEGORY DATA
  • Table 89 Sales of Luxury Writing Instruments and Stationery: Value 2016-2021
  • Table 90 Sales of Luxury Writing Instruments and Stationery: % Value Growth 2016-2021
  • Table 91 NBO Company Shares of Luxury Writing Instruments and Stationery: % Value 2016-2020
  • Table 92 LBN Brand Shares of Luxury Writing Instruments and Stationery: % Value 2017-2020
  • Table 93 Distribution of Luxury Writing Instruments and Stationery by Format: % Value 2016-2021
  • Table 94 Forecast Sales of Luxury Writing Instruments and Stationery: Value 2021-2026
  • Table 95 Forecast Sales of Luxury Writing Instruments and Stationery: % Value Growth 2021-2026

SUPER PREMIUM BEAUTY AND PERSONAL CARE IN ITALYKEY DATA FINDINGS
2021 DEVELOPMENTS
  • In spite of a modest rebound, demand remains subdued – particularly for colour cosmetics
  • Acne products, anti-agers, moisturisers and face masks key drivers of demand for super premium skin care
  • Beauty specialist retailers continue to lose ground to e-commerce

PROSPECTS AND OPPORTUNITIES
  • Recovery in demand will be sluggish, hampered by a lack of international tourists
  • Super premium colour cosmetics will shift towards hybrid products
  • Retail chains will grow their online sales

CATEGORY DATA
  • Table 96 Sales of Super Premium Beauty and Personal Care by Category: Value 2016-2021
  • Table 97 Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2016-2021
  • Table 98 NBO Company Shares of Super Premium Beauty and Personal Care: % Value 2016-2020
  • Table 99 LBN Brand Shares of Super Premium Beauty and Personal Care: % Value 2017-2020
  • Table 100 Distribution of Super Premium Beauty and Personal Care by Format: % Value 2016-2021
  • Table 101 Forecast Sales of Super Premium Beauty and Personal Care by Category: Value 2021-2026
  • Table 102 Forecast Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2021-2026
Note: Product cover images may vary from those shown