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Luxury Footwear Market Size, Share & Trends Analysis Report by Product (Formal Shoes, Casual Shoes), by End Use (Men, Women, Children), by Distribution Channel (Offline, Online), by Region, and Segment Forecasts, 2020 - 2027

  • ID: 5144620
  • Report
  • August 2020
  • Region: Global
  • 80 pages
  • Grand View Research

FEATURED COMPANIES

  • Adidas A.G.
  • Burberry
  • Chanel S.A.
  • Guccio Gucci
  • John Lobb Bootmaker
  • Lottusse - Mallorca
Luxury Footwear Market Growth & Trends

The global luxury footwear market size is anticipated to reach USD 49.01 billion by 2027, expanding at a CAGR of 5.6% from 2020 to 2027. The rising number of millennials across the globe has been a prominent reason for fueling the market growth. According to the Wealth-X report, in 2018, the global high net worth millionaires hold over USD 61 trillion in combined wealth. Moreover, the population of millionaires rose by 1.9% in 2018 compared to the previous year to reach 22.4 million.

Formal shoe luxury footwear led the market and accounted for 58.3% share of the global revenue in 2019. With the growing demand for luxury shoes among the millennial population worldwide, many luxury footwear brands have started catering to the casual shoe category to gain the attention of the consumers. For instance, in 2018, KIZIK design, a luxury footwear brand, announced the launch of its patented hands-free technology that offers automatic fit to the wearer. The shoes come without shoelace and when worn, the technology ensures that shoes are flexibly opened to let the foot go in without the involvement of the hands.

The casual shoe segment is anticipated to be the fastest-growing segment with a CAGR of 5.8% from 2020 to 2027. New product launches in sustainable space, latest styles, fashion shows by famous personalities, and celebrity endorsements in luxury footwear are among the major reasons attracting varied set of consumers worldwide.

The COVID-19 (coronavirus) outbreak is likely to reduce the demand for luxury footwear across the globe. Store closures due to lockdown measures have resulted in grim consequences, with sales of footwear and accessories from both offline and online channels declining consistently. For instance, sales data reported for Amazon between mid-February and mid-March 2020 showed that apparel and footwear sales fell by an average of 40 percentage points. Consumers have become more conscious of their spending habits and tend to avoid buying frivolous or luxury products, which is a major challenge for the market.

The women segment led the market and accounted for 47.2% share of the global revenue in 2019. The increasing participation of women in corporate roles has raised the number of first-time buyers of luxury footwear across the globe. According to the data from the United States Department of Labor, in 2018, close to 45% of the workforce in the U.S. were women. A large number of women are opting for unique and luxury footwear to experience products of high quality and portray a certain image in the society.

Offline distribution channels dominated the market and accounted for a 75.9% share of the global revenue in 2019. Wide product range, offers, and discounts attracting a larger number of consumers are the key strategies opted by such channels to increase revenue and footfall in any store. In addition, consumers have the propensity of physically verifying the making, durability, and the uniqueness of the luxury footwear in person by visiting a store as these examinations offer them more confidence to buy the product.

The online distribution channel is expected to witness the fastest growth over the forecast period. The rising popularity of e-commerce channels among the manufacturers and high internet penetration has been driving the sales through this channel. In addition, an increase in the number of luxury private sales websites, such as gilt.com, ruelala.com, and hautelook.com, has been boosting the segment growth.

North America dominated the market for luxury footwear and accounted for 29.1% share of the global revenue in 2019. Growth in the market is powered by the strong presence of high net worth individuals (HNW) in the region. According to a report by Wealth-X, in 2018, New York was the home to the most HNW individuals in the world that is 65% larger than the second city in the world. The people in this region have high disposable income and affluence for luxury products, which is fueling the regional market growth.

Luxury Footwear Market Report Highlights
  • By product, formal shoe luxury footwear led the market and accounted for 58.3% share of the global revenue in 2019. The rising importance of luxury footwear as a reflection of one’s professionalism at the workplace, particularly in corporate and fashion industries, is expected to remain a prominent factor augmenting product demand.
  • By distribution channel, the online segment is expected to witness the fastest growth throughout the forecast period. The increasing availability of a wide range of luxury footwear of different brands, free delivery, and seasonal discount on e-retailer platforms are among the major reasons driving the segment.
  • Asia Pacific is expected to register the fastest CAGR of 6.0% from 2020 to 2027. Social media marketing campaigns, growing preference for luxury footwear by millennials, and increasing disposable income have been boosting the number of first-time buyers, thus driving the market in the region.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Adidas A.G.
  • Burberry
  • Chanel S.A.
  • Guccio Gucci
  • John Lobb Bootmaker
  • Lottusse - Mallorca
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing

Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segmental Outlook
2.3. Competitive Insights

Chapter 3. Luxury Footwear Market Variables, Trends & Scope
3.1. Market Introduction
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Sales/Retail Channel Analysis
3.3.2. Profit Margin Analysis
3.4. Market Dynamics
3.4.1. Market Driver Analysis
3.4.2. Market Restraint Analysis
3.4.3. Industry Challenges
3.4.4. Industry Opportunities
3.5. Business Environment Analysis
3.5.1. Industry Analysis – Porter’s
3.5.1.1. Supplier Power
3.5.1.2. Buyer Power
3.5.1.3. Substitution Threat
3.5.1.4. Threat from New Entrant
3.5.1.5. Competitive Rivalry
3.6. Roadmap of Luxury Footwear Market
3.7. Market Entry Strategies
3.8. Impact of COVID-19 Pandemic on Luxury footwear Market

Chapter 4. Consumer Behavior Analysis
4.1. Consumer Trends and Preferences
4.2. Factors Affecting Buying Decision
4.3. Consumer Product Adoption
4.4. Observations & Recommendations

Chapter 5. Luxury Footwear Market: Product Estimates & Trend Analysis
5.1. Product Analysis & Market Share, 2019 & 2027
5.2. Formal shoes
5.2.1. Market estimates and forecast, 2016-2027 (USD Billion)
5.3. Casual shoes
5.3.1. Market estimates and forecast, 2016-2027 (USD Billion)

Chapter 6. Luxury Footwear Market: End-use Estimates & Trend Analysis
6.1. End–use Analysis & Market Share, 2019 & 2027
6.2. Men
6.2.1. Market estimates and forecast, 2016-2027 (USD Billion)
6.3. Women
6.3.1. Market estimates and forecast, 2016-2027 (USD Billion)
6.4. Children
6.4.1. Market estimates and forecast, 2016-2027 (USD Billion)

Chapter 7. Luxury Footwear Market: Distribution Channel Estimates & Trend Analysis
7.1. Distribution Channel Analysis & Market Share, 2019 & 2027
7.2. Online
7.2.1. Market estimates and forecast, 2016-2027 (USD Billion)
7.3. Offline
7.3.1. Market estimates and forecast, 2016-2027 (USD Billion)

Chapter 8. Luxury Footwear Market: Regional Estimates & Trend Analysis
8.1. Regional Movement Analysis & Market Share, 2019 & 2027
8.2. North America
8.2.1. Market estimates and forecast, 2016-2027 (USD Billion)
8.2.2. Market estimates and forecast, by product, 2016-2027 (USD Billion)
8.2.3. Market estimates and forecast, by end use, 2016-2027 (USD Billion)
8.2.4. Market estimates and forecast, by distribution channel, 2016-2027 (USD Billion)
8.2.5. The U.S.
8.2.5.1. Market estimates and forecast, 2016-2027 (USD Billion)
8.2.5.2. Market estimates and forecast, by product, 2016-2027 (USD Billion)
8.2.5.3. Market estimates and forecast, by end use, 2016-2027 (USD Billion)
8.2.5.4. Market estimates and forecast, by distribution Channel, 2016-2027 (USD Billion)
8.3. Europe
8.3.1. Market estimates and forecast, 2016-2027 (USD Billion)
8.3.2. Market estimates and forecast, by product, 2016-2027 (USD Billion)
8.3.3. Market estimates and forecast, by end use, 2016-2027 (USD Billion)
8.3.4. Market estimates and forecast, by distribution channel, 2016-2027 (USD Billion)
8.3.5. Germany
8.3.5.1. Market estimates and forecast, 2016-2027 (USD Billion)
8.3.5.2. Market estimates and forecast, by product, 2016-2027 (USD Billion)
8.3.5.3. Market estimates and forecast, by end use, 2016-2027 (USD Billion)
8.3.5.4. Market estimates and forecast, by distribution channel, 2016-2027 (USD Billion)
8.3.6. Italy
8.3.6.1. Market estimates and forecast, 2016-2027 (USD Billion)
8.3.6.2. Market estimates and forecast, by product, 2016-2027 (USD Billion)
8.3.6.3. Market estimates and forecast, by end use, 2016-2027 (USD Billion)
8.3.6.4. Market estimates and forecast, by distribution channel, 2016-2027 (USD Billion)
8.3.7. France
8.3.7.1. Market estimates and forecast, 2016-2027 (USD Billion)
8.3.7.2. Market estimates and forecast, by product, 2016-2027 (USD Billion)
8.3.7.3. Market estimates and forecast, by end use, 2016-2027 (USD Billion)
8.3.7.4. Market estimates and forecast, by distribution channel, 2016-2027 (USD Billion)
8.4. Asia Pacific
8.4.1. Market estimates and forecast, 2016-2027 (USD Billion)
8.4.2. Market estimates and forecast, by product, 2016-2027 (USD Billion)
8.4.3. Market estimates and forecast, by end use, 2016-2027 (USD Billion)
8.4.4. Market estimates and forecast, by distribution channel, 2016-2027 (USD Billion)
8.4.5. China
8.4.5.1. Market estimates and forecast, 2016-2027 (USD Billion)
8.4.5.2. Market estimates and forecast, by product, 2016-2027 (USD Billion)
8.4.5.3. Market estimates and forecast, by end use, 2016-2027 (USD Billion)
8.4.5.4. Market estimates and forecast, by distribution channel, 2016-2027 (USD Billion)
8.4.6. Japan
8.4.6.1. Market estimates and forecast, 2016-2027 (USD Billion)
8.4.6.2. Market estimates and forecast, by product, 2016-2027 (USD Billion)
8.4.6.3. Market estimates and forecast, by end use, 2016-2027 (USD Billion)
8.4.6.4. Market estimates and forecast, by distribution channel, 2016-2027 (USD Billion)
8.5. Central & South America
8.5.1. Market estimates and forecast, 2016-2027 (USD Billion)
8.5.2. Market estimates and forecast, by product, 2016-2027 (USD Billion)
8.5.3. Market estimates and forecast, by end use, 2016-2027 (USD Billion)
8.5.4. Market estimates and forecast, by distribution channel, 2016-2027 (USD Billion)
8.5.5. Brazil
8.5.5.1. Market estimates and forecast, 2016-2027 (USD Billion)
8.5.5.2. Market estimates and forecast, by product, 2016-2027 (USD Billion)
8.5.5.3. Market estimates and forecast, by end use, 2016-2027 (USD Billion)
8.5.5.4. Market estimates and forecast, by distribution channel, 2016-2027 (USD Billion)
8.6. Middle East & Africa (MEA)
8.6.1. Market estimates and forecast, 2016-2027 (USD Billion)
8.6.2. Market estimates and forecast, by product, 2016-2027 (USD Billion)
8.6.3. Market estimates and forecast, by end use, 2016-2027 (USD Billion)
8.6.4. Market estimates and forecast, by distribution channel, 2016-2027 (USD Billion)

Chapter 9. Competitive Analysis
9.1. Key global players, recent developments & their impact on the industry
9.2. Key Company/Competition Categorization (Key innovators, Market leaders, Emerging players)
9.3. Vendor Landscape
9.3.1. Key company market share analysis, 2019

Chapter 10. Company Profiles
10.1. LVMH
10.1.1. Company Overview
10.1.2. Financial Performance
10.1.3. Product Benchmarking
10.1.4. Strategic Initiatives
10.2. Guccio Gucci
10.2.1. Company Overview
10.2.2. Financial Performance
10.2.3. Product Benchmarking
10.2.4. Strategic Initiatives
10.3. Chanel S.A.
10.3.1. Company Overview
10.3.2. Financial Performance
10.3.3. Product Benchmarking
10.3.4. Strategic Initiatives
10.4. Burberry
10.4.1. Company Overview
10.4.2. Financial Performance
10.4.3. Product Benchmarking
10.4.4. Strategic Initiatives
10.5. Prada s.p.a
10.5.1. Company Overview
10.5.2. Financial Performance
10.5.3. Product Benchmarking
10.5.4. Strategic Initiatives
10.6. Silvano Lattanzi
10.6.1. Company Overview
10.6.2. Financial Performance
10.6.3. Product Benchmarking
10.6.4. Strategic Initiatives
10.7. Salvatore Ferragamo
10.7.1. Company Overview
10.7.2. Financial Performance
10.7.3. Product Benchmarking
10.7.4. Strategic Initiatives
10.8. John Lobb Bootmaker
10.8.1. Company Overview
10.8.2. Financial Performance
10.8.3. Product Benchmarking
10.8.4. Strategic Initiatives
10.9. Lottusse-Mallorca
10.9.1. Company Overview
10.9.2. Financial Performance
10.9.3. Product Benchmarking
10.9.4. Strategic Initiatives
10.10. Adidas A.G.
10.10.1. Company Overview
10.10.2. Financial Performance
10.10.3. Product Benchmarking
10.10.4. Strategic Initiatives
Note: Product cover images may vary from those shown
  • LVMH
  • Guccio Gucci
  • Chanel S.A.
  • Burberry
  • Prada s.p.a
  • Silvano Lattanzi
  • Salvatore Ferragamo
  • John Lobb Bootmaker
  • Lottusse - Mallorca
  • Adidas A.G.
Note: Product cover images may vary from those shown

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