- Europe, US, and UK are expected to dominate the global luxury fashion market.
- Rise in women working population across the world has boosted the luxury fashion product sales.
- The clothing and accessories segment dominates the luxury fashion market.
Globally, the market for luxury fashion has been increasing due to changing consumption patterns and growing demand for new designs and brands. Growing brand awareness and discounts on big brands online considerably supported the luxury fashion market. Enhanced product line differentiation, segmentation, improved digital marketing tools through various popular social media websites specific to regions is positively influencing the luxury fashion market. Hence, luxury fashion market is expected to grow at CAGR of more than 5% from 2016 to 2022.
This report includes a study of strategies, of major market players. It includes the product portfolios, developments of leading major players such as Louis Vuitton, Hermès, Gucci, Chanel, Rolex, Cartier, Prada, Burberry, Michael Kors, Tiffany, Zara, and Dolce & Gabbana.
- Secondary data reveals that among the various market segments accessories specifically watches and jewelry witnessed highest growth followed by clothing in the last few years
- Clothing and accessories dominates the luxury fashion market both in market volume
- Rise in women working population across the world has boosted the luxury fashion product sales to a greater extent, traction for branded items, rise in disposable incomes continue to support growth of the luxury fashion market