Uncertain global economy, terrorist attacks, currency fluctuations and dwindling international tourists led to a challenging environment for the luxury market over the past five years. Luxury sales registered a negative CAGR of 0.1% during the period 2012-2017 to reach US$104.7bn in 2017 from US$105.0bn in 2012.
However, sales are forecast to grow at a CAGR of 3.5% during 2017-2022 to reach US$124.4 billion by 2022 against the backdrop of improving global economy, and an increasing number of international tourists, especially Chinese tourists. Additionally, new store openings, renovation of existing stores, online expansion and innovations in product offerings by major luxury retailers are the major growth drivers for the European luxury market.
Italy remained the largest market in 2017, accounting for 21% of the luxury goods retail sales in Europe. Luxury sales in the country are forecast to register a steady CAGR during 20170-2022. On the other hand, in 2017, France accounted for 20.9% of the total luxury goods retail sales in Europe and is expected to grow at a CAGR of 3.2% till 2022. The attractiveness of Paris as a fashion hub, a growing number of tourists, improving economy and ensuing rise in local consumption are projected to aid the growth of luxury sales in the country. By 2022, France’s luxury market is projected to be the largest market in Europe, ahead of Italy, albeit by a small margin.
Clothing continues to remain as the largest category in luxury sales in Europe. Increasing demand for fashion and new ranges from popular brands and international designers drive the sales of clothing products in the region. Additionally, increasing adoption by millennials is also projected to drive sales.
The "Luxury Goods Retailing in Europe, 2017-2022", report provides analysis of current and forecast market data for luxury goods retail sales in different product categories across Europe.
- Luxury goods retail sales in Europe to reach US$124.4 billion by 2022.
- France to emerge as the largest market for luxury by 2022 overtaking Italy.
- Clothing is the largest product category in luxury sales in Europe.
- Personal care category set to grow the fastest over forecast period 2017-2022.
- Current market sizes and forecasts to 2022 by country and 12 categories, including clothing, consumer electronics, drinks, footwear, homewares, jewelry, watches and accessories, luggage and leather goods, personal care, communication equipment, stationery, tobacco, and others.
- Market insights based on consumer trends and changing economic and demographic factors.
- Luxury goods retail sales and fastest-growing markets for Luxury goods channel.
- Category level retail sales and forecast growth rates.
- Competitive landscape covering market share of major Luxury goods operators and their Luxury goods sales and trading update analysis, recent key events.
Reasons to Buy
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- Reliable Luxury goods retail sales data in Europe for 2017 with forecasts for 2022 with information on largest and fastest-growing markets to inform market expansion and to manage risk
- Explore an in-depth analysis of Luxury goods retail sales data for major markets to identify target categories and develop growth plans
- Learn from Luxury goods retail trends and market drivers to customize your entry/expansion approach depending on the Luxury goods retail landscape
- Choose partners, understand the competition, with data and analysis of major Luxury goods retailers, including market shares, trading performance, locations, travel retail strategy for each.
Table of ContentsExecutive Summary
Overview & Regional Analysis
Mergers & Acquisitions
A selection of companies mentioned in this report includes:
- Ralph Lauren Corporation
- Michael Kors Holdings Ltd.
- Kering S.A.
- Compagnie Financière
- Richemont SA
- Burberry Group PLC
- Tiffany & Co.
- Hermes International S.A.
- Prada S.p.A.,Tod’s S.p.A