Australia Luxury Goods Market Report and Forecast 2025-2034

According to this report, the Australia luxury goods market size reached around USD 7.10 billion in 2024. Aided by the rising affluence of the Australian consumer base, a growing demand for premium products, and the increasing interest in high-end lifestyle offerings, the market is projected to grow at a CAGR of 3.6% between 2025 and 2034 to attain nearly USD 10.15 billion by 2034.

Luxury goods in Australia span a wide array of categories, including fashion, jewellery, watches, beauty products, fine wines, and high-end automobiles. The growth of the Australia luxury goods market is predominantly propelled by the expanding wealth of consumers, particularly in the nation's metropolitan areas, where the demand for premium products is most pronounced.

Rising disposable income, along with Australia’s growing high-net-worth population, has made luxury goods more accessible to a broader demographic. The affluent consumer base in Australia, consisting of both domestic buyers and international visitors, has shown increasing interest in exclusive, premium products that reflect their status, success, and lifestyle.

The evolving consumer mindset plays a significant role in the Australia luxury goods market expansion. Younger generations, particularly millennials and Gen Z, are increasingly seeking products that are not just exclusive but also align with their values, such as sustainability, ethical production, and personalisation. This demographic is leading the way in the luxury market by prioritising authenticity, transparency, and the desire for products that offer both prestige and meaning. As a result, luxury brands are adapting by offering limited-edition collections, personalised services, and increasingly sustainable options to cater to these new expectations.

Luxury fashion, which encompasses high-end clothing, accessories, and footwear, remains one of the most significant drivers of the Australia luxury goods market development. As fashion-conscious consumers seek to express themselves through their wardrobe choices, the demand for luxury apparel and designer accessories has seen consistent growth. Premium fashion labels, including high-end Australian designers, have been successful in meeting the aspirations of local consumers by offering bespoke designs, exceptional craftsmanship, and rare materials.

Similarly, luxury jewellery and watches remain integral parts of the Australia luxury goods market, with consumers viewing them not only as a means of personal adornment but also as valuable investments. The growing demand for both classic and contemporary pieces, such as high-end watches and diamond jewellery, has been further fuelled by a desire for heirloom-quality items and a growing interest in asset preservation. Additionally, a shift towards ethically sourced materials has influenced consumer purchasing patterns, leading to greater demand for sustainably produced luxury jewellery.

Another key Australia luxury goods market trend is the increasing role of technology and digital platforms in the shopping experience. The rise of e-commerce, combined with luxury brands' growing investments in online retail channels, has made high-end products more accessible to a broader audience. Australian consumers are increasingly shopping for luxury goods online, benefiting from the convenience, wider selection, and ability to access international brands.

Luxury brands have responded to this shift by enhancing their online presence and offering a more personalised shopping experience through virtual consultations, customisations, and exclusive online collections. As digital platforms evolve, the ability to connect with consumers through these channels is driving the demand for luxury goods, particularly among younger, tech-savvy consumers.

Moreover, the growing interest in health and beauty products has boosted the Australia luxury goods market revenue. Australians are increasingly willing to invest in premium skincare, cosmetics, and wellness products, as part of a broader lifestyle trend that emphasizes self-care and well-being. The demand for high-end beauty products, including luxury skincare brands and premium perfumes, is growing as consumers seek products that offer superior ingredients, advanced formulations, and exceptional results. The luxury beauty market, in particular, has benefited from the increasing importance of wellness and the role of premium products in achieving a high-quality self-care routine.

The impact of sustainability and environmental responsibility is also playing a crucial role in shaping the Australia luxury goods market landscape. As consumers become more aware of environmental issues, luxury brands are under increasing pressure to adopt sustainable practices, including ethical sourcing, transparent production processes, and the use of eco-friendly materials.

Brands that align themselves with sustainability are seeing heightened demand from eco-conscious consumers, who view luxury as an investment not only in quality but also in responsible consumption. In response, many luxury goods companies in Australia have started to integrate sustainable materials into their offerings, such as vegan leather, recycled metals, and organic fabrics, and have embraced eco-friendly packaging.

Furthermore, the Australia luxury goods market is benefiting from the increasing affluence of international tourists, particularly from regions such as China and Southeast Asia. Australia's status as a luxury travel destination, combined with its strong tourism industry, provides a substantial market for luxury goods, with international visitors seeking high-end products during their stay. This influx of overseas wealth has supported the growth of luxury retail in major Australian cities like Sydney and Melbourne, where high-end shopping precincts cater to both local and international demand.

In conclusion, the Australia luxury goods market is poised for steady growth over the forecast period, driven by rising disposable income, the increasing wealth of high-net-worth individuals, and shifting consumer preferences towards exclusivity, personalisation, and sustainability. The demand for luxury fashion, jewellery, watches, beauty products, and experiences is expected to continue growing as Australian consumers increasingly seek products that reflect their elevated status and lifestyle aspirations. Furthermore, the increasing integration of digital platforms into the luxury shopping experience and the growing role of sustainability are shaping the future of the market. With these factors in mind, the market is well-positioned to thrive in the coming years, offering exciting opportunities for both local and international luxury brands.

Market Segmentation

The market can be divided based on type, end use, distribution channel, and region.

Market Breakup by Type

• Accessories
• Perfumes and Cosmetics
• Clothing
• Leather Goods
• Footwear
• Others

Market Breakup by End Use

• Women
• Men
• Unisex

Market Breakup by Distribution Channel

• Offline
• Online

Market Breakup by Region

• South Wales
• Victoria
• Queensland
• Australian Capital Territory
• Western Australia
• Others

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Australia luxury goods market. Some of the major players explored in the report are as follows:

• Louis Vuitton Australia Pty Ltd
• Guccio Gucci S.p.A.
• CHANEL
• ROLEX SA
• ZIMMERMANN Hong Kong
• Dion Lee Enterprise Pty Ltd.
• Ralph Lauren Australia Pty Ltd.
• YVES SAINT LAURENT
• Cartier SA
• Others