Embracing Elegance: Unveiling the Global Luxury Fashion Market's Soaring CAGR of 3.59% Towards a Staggering USD 320.8 Billion by 2030
๐๐ฎ๐ฑ๐ฎ๐ซ๐ฒ ๐ ๐๐ฌ๐ก๐ข๐จ๐ง ๐๐๐ซ๐ค๐๐ญ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌAccording to market research future insights analysis, the global Luxury Fashion Market is expected to register a CAGR of 3.59% from 2023 to 2030 and hold a value of over USD 320.8 Billion by 2030.
Various luxury fashion players are focused on strategic growth initiatives such as acquisitions and product launches to strengthen their market position and expand their consumer base. This, in turn, is driving the global market for luxury fashion. For instance, in March 2022, LIORE'e, a baby luxury accessories designer company from New York, launched a new product line of luxury baby clothes in Dubai. Similarly, in July 2021, LVMH acquired a stake in the Italian luxury fashion brand Off White to expand the existing and new product lines. Other than this, Millennials and the Gen Z population are key drivers of the luxury fashion market owing to their willingness to spend additional for premium products, focus on style and fashion and broad-mindedness towards experimenting with new things. Furthermore, an increase in the number of wealthy people is expected to fuel market expansion. To capture the attention of the millennial and Gen Z generation, businesses are tailoring their product offerings. Therefore, the market's expansion would be supported by the wealthy population's rising desire for high-end fashion goods. The demand for eco-friendly goods is projected to increase as sustainable luxury fashion production projects gain traction. The market for authentic luxury products is anticipated to be hampered by a rising trend of buying used branded goods or renting designer clothing because used goods are typically available for less than the original price of the item. Similar to the previous point, the market growth is projected to be constrained by the rising trend of counterfeiting, in which goods that resemble premium brands are sold for less money.
๐๐๐ญ ๐ ๐ ๐ซ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐ ๐ข๐ฅ๐ @ https://www.marketresearchfuture.com/sample_request/1770
๐๐๐ ๐ข๐จ๐ง๐๐ฅ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ
North America dominated the market for luxury fashion in 2021. Higher spending capacity, presence of a large number of players, tourism-based purchasing and high preference towards luxury products is pushing multinational companies to launch their products earlier in this region compared to other geographies.
Asia-Pacific is expected to witness lucrative growth in luxury fashion products. This is due to rising purchasing power, changing consumer trends, and the entry of many luxury brands across the region, leading to the growth of the luxury fashion market. In addition, the rising number of luxury brand stores and increased online presence further accelerate the market growth.
๐๐๐ซ๐ค๐๐ญ ๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ญ๐ข๐จ๐ง
The global luxury fashion market has been segmented into product type, end user, and distribution channel.
Based on product type, the market has been segmented into clothing & apparel, footwear, and accessories. The clothing & apparel segment accounted for the largest market share in 2021 owing to the increasing popularity of luxury brands, growing online presence, and increasing fashion awareness among Millenials & Gen Z population. In addition, the clothing & apparel segment is projected to witness the highest growth during the forecast period due to rising living standards and changing lifestyles.
Based on end user, the market has been segmented into men, women and unisex. The women segment accounted for the largest revenue share in 2021 in the luxury fashion market. This is due to the rising awareness of grooming and fashion sense among females, and increasing awareness of product availability is accelerating market growth. On the other hand, the unisex segment is expected to witness the highest growth during the forecast period.
Based on distribution channels, the market has been segmented into store-based and non-store based. The store-based segment is further sub-segmented as supermarkets & hypermarkets, specialty stores, and others. The store-based segment accounted for the largest share in 2021 owing to consumers' preference to try & buy high-value products. On the other hand, the non-store-based segment is expected to witness the fastest growth during the forecast period.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐ ๐จ๐ซ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ญ๐ข๐จ๐ง @ https://www.marketresearchfuture.com/ask_for_customize/1770
๐๐๐ฒ ๐๐จ๐ฆ๐ฉ๐๐ง๐ข๐๐ฌ ๐ข๐ง ๐ญ๐ก๐ ๐๐ฎ๐ฑ๐ฎ๐ซ๐ฒ ๐ ๐๐ฌ๐ก๐ข๐จ๐ง ๐๐๐ซ๐ค๐๐ญ ๐๐ง๐๐ฅ๐ฎ๐๐ -
Ralph Lauren (US)
Capri Holdings Limited (US)
PVH Corp. (US)
Kering (France)
LVMH (France)
Inditex (Spain)
Giorgio Armani S.P.A. (Italy)
Chanel S.A. (France)
Dolce & Gabbana (Italy)
Burberry Ltd. (UK)
๐๐๐๐ ๐๐จ๐ซ๐ ๐๐๐จ๐ฎ๐ญ ๐๐๐ฉ๐จ๐ซ๐ญ @ https://www.marketresearchfuture.com/reports/luxury-fashion-market-1770
๐๐ฎ๐ฑ๐ฎ๐ซ๐ฒ ๐ ๐๐ฌ๐ก๐ข๐จ๐ง ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐๐๐ฏ๐๐ฅ๐จ๐ฉ๐ฆ๐๐ง๐ญ๐ฌ -
๐๐จ๐ฏ๐๐ฆ๐๐๐ซ ๐๐๐๐:
A capsule collection and multiple in-store exhibits were used to mark the launch of Concept 019: Burberry on the New Concepts Nordstrom platform in collaboration with the British luxury brand Burberry. Classic outerwear pieces like puffer jackets and trench coats are part of the capsule collection. On the other hand, knitwear, scarves, bags, shoes, and tailoring are examples of ready-to-wear items, as well as accessories, for men, women, and kids, including graphic T-shirts.
๐๐๐ฉ๐ญ๐๐ฆ๐๐๐ซ ๐๐๐๐:
Hermรจs International SA has announced the inauguration of a new duplex store in the Union Square shopping mall in Ho Chi Minh City, Vietnam, that will sell a variety of high-end clothing.
๐ ๐๐๐ซ๐ฎ๐๐ซ๐ฒ ๐๐๐๐:
The premium brand Ralph Lauren, located in the United States, is set to be acquired by LVMH. The business plans to accelerate the development of its global brand. Ralph Lauren already has an omnichannel presence in Saudi Arabia, a developing market. This acquisition would enable brands to cater to Saudi consumers' preferences by offering new-end products that fit the region's demographic trends.
๐๐๐๐ ๐๐ฎ๐ซ ๐๐๐ฅ๐๐ญ๐๐ ๐๐๐ฉ๐จ๐ซ๐ญ -
๐๐๐ง๐ข๐ฆ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ฅ๐จ๐๐๐ฅ ๐ ๐จ๐ซ๐๐๐๐ฌ๐ญ ๐๐ข๐ฅ๐ฅ ๐๐๐๐ -
https://www.marketresearchfuture.com/reports/denim-market-7135
๐๐ซ๐จ๐ฆ ๐๐ซ๐๐ฌ๐ฌ๐๐ฌ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ฅ๐จ๐๐๐ฅ ๐ ๐จ๐ซ๐๐๐๐ฌ๐ญ ๐๐ข๐ฅ๐ฅ ๐๐๐๐ -
https://www.marketresearchfuture.com/reports/prom-dresses-market-3881
๐๐จ๐ง๐ญ๐๐๐ญ ๐ฎ๐ฌ:
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๐๐๐จ๐ฎ๐ญ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐ ๐ฎ๐ญ๐ฎ๐ซ๐:
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