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Luxury Apparels Market - Global Industry Analysis

Luxury Apparels Market by Distribution Channel (Online and Offline), by End User (Men, Women And Children): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028

Published Date: 09-Jun-2021 Category: Consumer Goods Report Format : PDF Pages: 110 Report Code: ZMR-2565 Status : Published

The global luxury apparels market accounted for USD 72,071.5 Million in 2020 and is expected to reach USD 101,461.9 Million by 2028, growing at a CAGR of 4.4% from 2021 to 2028.

Description

Market Overview

The global luxury apparels market accounted for USD 72,071.5 Million in 2020 and is expected to reach USD 101,461.9 Million by 2028, growing at a CAGR of 4.4% from 2021 to 2028.

Luxury apparels comprise of designer clothing and accessories (Hats, scarves, belts) that are typically made of high-end, pure materials such as cotton, leather, silk, denim and others. They are typically characterized by high price points, justified by the unique designs and higher quality materials and craftsmanship employed for production.

Rise in disposable income clubbed with a shift in the lifestyle patterns of millennials can be attributed as one of the driving forces of this market. One of the recent trends has been the surge in e-commerce of luxury apparels. Several brands have now resorted to the online medium for marketing as well as sales of their products through their websites and social media platforms. Sales and discount offers offered online have now become ubiquitous, which are almost non-existent in the offline mode. Another rising trend among luxury brands is the adoption of sustainable materials for production, as the Millennials and Generation Z are becoming more conscious of the environmental impact of luxury apparels, for instance those made of pure leather and others such materials.  

COVID-19 Impact Analysis

The luxury apparels market is anticipated to witness a checkered growth, as a result of the unprecedented supply chain disruptions caused by the COVID-19 pandemic. A possible decline is mainly attributable to the disruptions caused in crucial export markets such as India and China. In the offline mode, duty free shops at airports and luxury stores at malls have been hit hard due to the restrictions imposed on international travel and mall visits. However, with consumers forced to stay at home, online retail sales increased exponentially, further accelerated by active digital campaigns initiated by luxury brands. For instance, Prada and Dolce & Gabanna in collaboration with Alibaba launched their own video boutiques to enhance the online shopping experience.

Growth Factors

A major growth driver in this market recently has been the increased communication on social media platforms through influencers and bloggers, who are influencing the sales of luxury apparels as majority customers rely on credible reviews and word of mouth before investing in such expensive products

Being the major driver of luxury sales, Millennial and Gen Z consumers are expected to augment this market due to their changing lifestyle patterns, caused by rapid urbanization and rising income levels. Companies such as Louis Vuitton and Christian Dior are actively coming up with engaging digital campaigns and celebrity collaborations to attract this segment. 

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Distribution Channel Segment Analysis Preview

Online segment held a share of around 30% in 2020. This is attributable to the disruption in offline sales caused by the Covid-19 outbreak. Lockdowns and other restrictions have propelled online sales as people continue to stay at home. Online platforms also provide several options too choose from along with the added benefit of seasonal sales and discount offers. The comfort of shopping from home and delivery of high quality luxury products at the doorstep may also augment this segment.

End User Segment Analysis Preview

Women segment will grow at a CAGR of over 3.1% from 2021 to 2028. This is attributable to a wide range of products available in female fashion items in terms of color pallets, styles, designs and materials. Increasing fashion awareness among women through digital media clubbed with a rising disposable income is also anticipated to drive this segment.

Regional Analysis Preview

The European region held a share of 36.25% in 2020. This is attributable to the presence of globally leading luxury brands such as Louis Vuitton, Versace, Burberry and Christian Dior among others. Moreover, growing appeal of a luxurious lifestyle, high buying power, and celebrity endorsements are expected to generate demand in this region.

The Asia Pacific region is projected to grow at a CAGR of 3.6% over the forecast period. This surge is due to a developing standard of living and purchasing power, causing an increased brand awareness and consciousness especially in countries such as China, India and South Korea. A number of luxury brands are expected to increase their retail footprint in these countries to attract the well to do millennials. For instance, industry leader LVMH over the past 10 years has gradually shifted its retail center of gravity towards Asia Pacific. This region (excluding Japan) now accounts for almost 30 per cent of the conglomerate’s retail footprint.

Key Market Players & Competitive Landscape

Some of key players in the luxury apparels market are LVMH Moet Hennessy Louis Vuitton SE, Christian Dior, Ralph Lauren Corporation, Prada, Giorgio Armani S.P.A., Gianni Versace, Hermes International, Gucci, Burberry Group, and Tommy Hilfiger among others. 

With the growth of the online medium, luxury brands will now have to start offering bespoke and exclusive online experiences to customers such as video boutiques, virtual catwalks, private viewings and other customized services. Digitalization and e-commerce penetration are expected to become main stream as Covid-19 continues to exist.          

The global luxury apparels market is segmented as follows:

By Distribution Channel

  • Online
  • Offline

By End User

  • Men
  • Women
  • Children

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter No. 1 Introduction
    • 1.1. Report Description
      • 1.1.1. Purpose of the Report
      • 1.1.2. USP & Key Offerings
    • 1.2. Key Benefits for Stakehulders
    • 1.3. Target Audience
    • 1.4. Report Scope
  • Chapter No. 2 Executive Summary
    • 2.1. Key Findings
      • 2.1.1. Top Investment Pockets
        • 2.1.1.1. Market Attractiveness Analysis, By Distribution Channel
        • 2.1.1.2. Market Attractiveness Analysis, By End User
        • 2.1.1.3. Market Attractiveness Analysis, By Region
    • 2.2. Market Snapshot
    • 2.3. Global Luxury apparels Market, 2016 – 2028 (USD Million)
    • 2.4. Insights from Primary Respondents
  • Chapter No. 3 COVID 19 Impact Analysis
    • 3.1. Impact Assessment of COVID-19 Pandemic, By Region
      • 3.1.1. North America
      • 3.1.2. Europe
      • 3.1.3. Asia Pacific
      • 3.1.4. Latin America
      • 3.1.5. The Middle-East and Africa
    • 3.2. Quarterly Market Revenue and Forecast by Region 2020 & 2021
    • 3.3. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Million)
    • 3.4. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Million)
    • 3.5. Key Strategies Undertaken by Companies to Tackle COVID-19
      • 3.5.1. Company Quarterly Revenue Analysis, 2019 & 2020
    • 3.6. Short Term Dynamics
    • 3.7. Long Term Dynamics
  • Chapter No. 4 Luxury apparels Market – Distribution Channel Segment Analysis
    • 4.1. Overview
      • 4.1.1. Market Revenue Share, By Distribution Channel, 2020 & 2028
  • Chapter No. 5 Luxury apparels Market – End User Segment Analysis
    • 5.1. Overview
      • 5.1.1. Market Revenue Share, By End User, 2020 & 2028
  • Chapter No. 6 Luxury apparels Market – Regional Analysis
    • 6.1. Overview
      • 6.1.1. Global Market Revenue Share, By Region, 2020 & 2028
      • 6.1.2. Global Market Revenue, By Region, 2016 – 2028 (USD Million)
    • 6.2. North America
      • 6.2.1. North America Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 6.2.2. North America Market Revenue, By Distribution Channel, 2016 – 2028
      • 6.2.3. North America Market Revenue, By End User, 2016 – 2028
      • 6.2.4. U.S.
        • 6.2.4.1. U.S. Market Revenue, By Distribution Channel, 2016 – 2028
        • 6.2.4.2. U.S. Market Revenue, By End User, 2016 – 2028
      • 6.2.5. Canada
        • 6.2.5.1. Canada Market Revenue, By Distribution Channel, 2016 – 2028
        • 6.2.5.2. Canada Market Revenue, By End User, 2016 – 2028
      • 6.2.6. Mexico
        • 6.2.6.1. Mexico Market Revenue, By Distribution Channel, 2016 – 2028
        • 6.2.6.2. Mexico Market Revenue, By End User, 2016 – 2028
    • 6.3. Europe
      • 6.3.1. Europe Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 6.3.2. Europe Market Revenue, By Distribution Channel, 2016 – 2028
      • 6.3.3. Europe Market Revenue, By End User, 2016 – 2028
      • 6.3.4. Germany
        • 6.3.4.1. Germany Market Revenue, By Distribution Channel, 2016 – 2028
        • 6.3.4.2. Germany Market Revenue, By End User, 2016 – 2028
      • 6.3.5. France
        • 6.3.5.1. France Market Revenue, By Distribution Channel, 2016 – 2028
        • 6.3.5.2. France Market Revenue, By End User, 2016 – 2028
      • 6.3.6. U.K.
        • 6.3.6.1. U.K. Market Revenue, By Distribution Channel, 2016 – 2028
        • 6.3.6.2. U.K. Market Revenue, By End User, 2016 – 2028
      • 6.3.7. Italy
        • 6.3.7.1. Italy Market Revenue, By Distribution Channel, 2016 – 2028
        • 6.3.7.2. Italy Market Revenue, By End User, 2016 – 2028
      • 6.3.8. Spain
        • 6.3.8.1. Spain Market Revenue, By Distribution Channel, 2016 – 2028
        • 6.3.8.2. Spain Market Revenue, By End User, 2016 – 2028
      • 6.3.9. Rest of Europe
        • 6.3.9.1. Rest of Europe Market Revenue, By Distribution Channel, 2016 – 2028
        • 6.3.9.2. Rest of Europe Market Revenue, By End User, 2016 – 2028
    • 6.4. Asia Pacific
      • 6.4.1. Asia Pacific Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 6.4.2. Asia Pacific Market Revenue, By Distribution Channel, 2016 – 2028
      • 6.4.3. Asia Pacific Market Revenue, By End User, 2016 – 2028
      • 6.4.4. China
        • 6.4.4.1. China Market Revenue, By Distribution Channel, 2016 – 2028
        • 6.4.4.2. China Market Revenue, By End User, 2016 – 2028
      • 6.4.5. Japan
        • 6.4.5.1. Japan Market Revenue, By Distribution Channel, 2016 – 2028
        • 6.4.5.2. Japan Market Revenue, By End User, 2016 – 2028
      • 6.4.6. India
        • 6.4.6.1. India Market Revenue, By Distribution Channel, 2016 – 2028
        • 6.4.6.2. India Market Revenue, By End User, 2016 – 2028
      • 6.4.7. South Korea
        • 6.4.7.1. South Korea Market Revenue, By Distribution Channel, 2016 – 2028
        • 6.4.7.2. South Korea Market Revenue, By End User, 2016 – 2028
      • 6.4.8. South-East Asia
        • 6.4.8.1. South-East Asia Market Revenue, By Distribution Channel, 2016 – 2028
        • 6.4.8.2. South-East Asia Market Revenue, By End User, 2016 – 2028
      • 6.4.9. Rest of Asia Pacific
        • 6.4.9.1. Rest of Asia Pacific Market Revenue, By Distribution Channel, 2016 – 2028
        • 6.4.9.2. Rest of Asia Pacific Market Revenue, By End User, 2016 – 2028
    • 6.5. Latin America
      • 6.5.1. Latin America Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 6.5.2. Latin America Market Revenue, By Distribution Channel, 2016 – 2028
      • 6.5.3. Latin America Market Revenue, By End User, 2016 – 2028
      • 6.5.4. Brazil
        • 6.5.4.1. Brazil Market Revenue, By Distribution Channel, 2016 – 2028
        • 6.5.4.2. Brazil Market Revenue, By End User, 2016 – 2028
      • 6.5.5. Argentina
        • 6.5.5.1. Argentina Market Revenue, By Distribution Channel, 2016 – 2028
        • 6.5.5.2. Argentina Market Revenue, By End User, 2016 – 2028
      • 6.5.6. Rest of Latin America
        • 6.5.6.1. Rest of Latin America Market Revenue, By Distribution Channel, 2016 – 2028
        • 6.5.6.2. Rest of Latin America Market Revenue, By End User, 2016 – 2028
    • 6.6. The Middle-East and Africa
      • 6.6.1. The Middle-East and Africa Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 6.6.2. The Middle-East and Africa Market Revenue, By Distribution Channel, 2016 – 2028
      • 6.6.3. The Middle-East and Africa Market Revenue, By End User, 2016 – 2028
      • 6.6.4. GCC Countries
        • 6.6.4.1. GCC Countries Market Revenue, By Distribution Channel, 2016 – 2028
        • 6.6.4.2. GCC Countries Market Revenue, By End User, 2016 – 2028
      • 6.6.5. South Africa
        • 6.6.5.1. South Africa Market Revenue, By Distribution Channel, 2016 – 2028
        • 6.6.5.2. South Africa Market Revenue, By End User, 2016 – 2028
      • 6.6.6. Rest of Middle-East Africa
        • 6.6.6.1. Rest of Middle-East Africa Market Revenue, By Distribution Channel, 2016 – 2028
        • 6.6.6.2. Rest of Middle-East Africa Market Revenue, By End User, 2016 – 2028
  • Chapter No. 7 Luxury apparels Market – Industry Analysis
    • 7.1. Introduction
    • 7.2. Market Drivers
      • 7.2.1. Driving Factor 1 Analysis
      • 7.2.2. Driving Factor 2 Analysis
    • 7.3. Market Restraints
      • 7.3.1. Restraining Factor Analysis
    • 7.4. Market Opportunities
      • 7.4.1. Market Opportunity Analysis
    • 7.5. Porter’s Five Forces Analysis
    • 7.6. PEST Analysis
    • 7.7. Regulatory Landscape
    • 7.8. Technology Landscape
    • 7.9. Regional Market Trends
      • 7.9.1. North America
      • 7.9.2. Europe
      • 7.9.3. Asia Pacific
      • 7.9.4. Latin America
      • 7.9.5. The Middle-East and Africa
    • 7.10. Pricing Analysis
    • 7.11. Value Chain Analysis
    • 7.12. Downstream Buyers
    • 7.13. Distributors/Traders List
  • Chapter No. 8 Competitive Landscape
    • 8.1. Company Market Share Analysis – 2019
      • 8.1.1. Global Luxury apparels Market: Company Market Share, 2019
      • 8.1.2. Global Luxury apparels Market, Company Market Revenue, 2016 – 2019 (USD Million)
      • 8.1.3. Global Luxury apparels Market, Company Y-o-Y Growth, 2017 – 2019 (%)
      • 8.1.4. Global Luxury apparels Market: Radar Determinant Chart, 2019
    • 8.2. Strategic Developments
      • 8.2.1. Acquisitions & Mergers
      • 8.2.2. New Product Launch
      • 8.2.3. Regional Expansion
    • 8.3. Company Strategic Developments – Heat Map Analysis
  • Chapter No. 9 Company Profiles
    • 9.1. LVMH Moet Hennessy Louis Vuitton SE
      • 9.1.1. Company Overview
      • 9.1.2. Key Executives
      • 9.1.3. Product Portfolio
      • 9.1.4. Financial Overview
      • 9.1.5. Operating Business Segments
      • 9.1.6. Business Performance
      • 9.1.7. Recent Developments
    • 9.2. Christian Dior
    • 9.3. Ralph Lauren Corporation
    • 9.4. Prada
    • 9.5. Girogio Armani S.P.A.
    • 9.6. Gianni Versace
  • Chapter No. 10 Marketing Strategy Analysis
    • 10.1. Marketing Channel
    • 10.2. Direct Marketing
    • 10.3. Indirect Marketing
    • 10.4. Marketing Channel Development Trends
    • 10.5. Economic/Pulitical Environmental Change
  • Chapter No. 11 Research Methodology
    • 11.1. Research Methodology
    • 11.2. Phase I - Secondary Research
    • 11.3. Phase II - Data Modeling
      • 11.3.1. Company Share Analysis Model
      • 11.3.2. Revenue Based Modeling
    • 11.4. Phase III - Primary Research
    • 11.5. Research Limitations
      • 11.5.1. Assumptions

List of Figures 

FIG NO. 1. Market Attractiveness Analysis, By Distribution Channel
FIG NO. 2. Market Attractiveness Analysis, By End User
FIG NO. 3. Market Attractiveness Analysis, By Region
FIG NO. 4. Global Luxury apparels Market Revenue, 2016 – 2028 (USD Million)
FIG NO. 5. Impact of COVID-19 Pandemic in North America Countries
FIG NO. 6. Market Revenue Share, By Distribution Channel, 2020 & 2028
FIG NO. 7. Market Revenue Share, By End User, 2020 & 2028
FIG NO. 8. Global Luxury apparels Market Revenue Share, By Region, 2020 & 2028
FIG NO. 9. North America Luxury apparels Market Revenue, 2016 - 2028 (USD Million)
FIG NO. 10. Porter’s Five Forces Analysis for Global Luxury apparels Market
FIG NO. 11. PEST Analysis for Global Luxury apparels Market
FIG NO. 12. Pricing Analysis for Global Luxury apparels Market
FIG NO. 13. Value Chain Analysis for Global Luxury apparels Market
FIG NO. 14. Company Share Analysis, 2019
FIG NO. 15. Radar Determinant Chart, 2019
FIG NO. 16. Company Strategic Developments – Heat Map Analysis
FIG NO. 17. LVMH Moet Hennessy Louis Vuitton SE Business Segment Revenue Share, 2020 (%)
FIG NO. 18. LVMH Moet Hennessy Louis Vuitton SE Geographical Segment Revenue Share, 2020 (%)
FIG NO. 19. Market Channels
FIG NO. 20. Marketing Channel Development Trend
FIG NO. 21. Growth in World Gross Product, 2008-2018
FIG NO. 22. Research Methodology – Detailed View
FIG NO. 23. Research Methodology


List of Tables

TABLE NO. 1. Global Luxury apparels Market: Snapshot
TABLE NO. 2. Quarterly Luxury apparels Market Revenue by Region, 2020
TABLE NO. 3. Quarterly Luxury apparels Market Revenue Forecast by Region, 2021
TABLE NO. 4. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Million)
TABLE NO. 5. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Million)
TABLE NO. 6. Global Luxury apparels Market Revenue, By Region, 2016 – 2028 (USD Million)
TABLE NO. 7. North America Luxury apparels Market Revenue, By Country, 2016 – 2028 (USD Million)
TABLE NO. 8. North America Luxury apparels Market Revenue, By Distribution Channel, 2016 – 2028 (USD Million)
TABLE NO. 9. North America Luxury apparels Market Revenue, By End User, 2016 – 2028 (USD Million)
TABLE NO. 10. U.S. Luxury apparels Market Revenue, By Distribution Channel, 2016 – 2028 (USD Million)
TABLE NO. 11. U.S. Luxury apparels Market Revenue, By End User, 2016 – 2028 (USD Million)
TABLE NO. 12. Canada Luxury apparels Market Revenue, By Distribution Channel, 2016 – 2028 (USD Million)
TABLE NO. 13. Canada Luxury apparels Market Revenue, By End User, 2016 – 2028 (USD Million)
TABLE NO. 14. Mexico Luxury apparels Market Revenue, By Distribution Channel, 2016 – 2028 (USD Million)
TABLE NO. 15. Mexico Luxury apparels Market Revenue, By End User, 2016 – 2028 (USD Million)
TABLE NO. 16. Drivers for the Luxury apparels Market: Impact Analysis
TABLE NO. 17. Restraints for the Luxury apparels Market: Impact Analysis
TABLE NO. 18. Major Buyers of Luxury apparels
TABLE NO. 19. Distributors/Traders List of Luxury apparels
TABLE NO. 20. Global Luxury apparels Market, Company Market Revenue, 2016 – 2019 (USD Million)
TABLE NO. 21. Global Luxury apparels Market, Company Y-o-Y Growth, 2017 – 2019 (USD Million)
 

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FrequentlyAsked Questions

The global luxury apparels market was valued at USD 72,071.5 Million in 2020.

The global luxury apparels market is expected to reach USD 101,461.9 Million by 2028, growing at a CAGR of 4.4% between 2021 to 2028.

Some of the key factors driving the global luxury apparels market growth are changing lifestyle patterns, surge in e-commerce, growing brand awareness and disposable income of consumers.

Europe region held a substantial share of the luxury apparels market in 2020. This is attributable to the presence of major players such as Louis Vuitton, Versace, Burberry and Christian Dior among others. Asia Pacific region is projected to grow at a significant rate owing to the rising demand for luxury apparels in developing economies such as China and India.

Some of the major companies operating in the luxury apparels market are LVMH Moet Hennessy Louis Vuitton SE, Christian Dior, Ralph Lauren Corporation, Prada, Girogio Armani S.P.A., Gianni Versace, Hermes International, Gucci, Burberry Group, and Tommy Hilfiger among others.

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