High End Luxury Market Scope
Luxury brands cannot be legally classified as a separate sector since the products and services they provide range from automobiles to wristwatches. Despite the fact that luxury products differ in terms of their practical applications, they always provide consumers with similar symbolic and sensory advantages – such as prestige and social status – that are mostly derived from their brands' intangible characteristics. The pandemic's worldwide impact has been unprecedented and startling, with luxury products experiencing a negative demand shock in all areas.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | LVMH Moët Hennessy-Louis Vuitton SA (France), Compagnie Financière Richemont SA (Switzerland), Kering SA (France), Chow Tai Fook Jewellery Group Limited (Hong Kong), The Estée Lauder Companies Inc. (United States), Luxottica Group SpA (Italy), Ralph Lauren Corporation (United States), Shiseido Company, Limited (Japan), Gianni Versace S.r.l. (Italy) and Guccio Gucci S.p.A. (Kering Holland NV) (Italy) |
CAGR | % |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that United States & French Vendors will contribute to the maximum growth of Global High End Luxury market throughout the predicted period.
LVMH Moët Hennessy-Louis Vuitton SA (France), Compagnie Financière Richemont SA (Switzerland), Kering SA (France), Chow Tai Fook Jewellery Group Limited (Hong Kong), The Estée Lauder Companies Inc. (United States), Luxottica Group SpA (Italy), Ralph Lauren Corporation (United States), Shiseido Company, Limited (Japan), Gianni Versace S.r.l. (Italy) and Guccio Gucci S.p.A. (Kering Holland NV) (Italy) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are The Swatch Group Ltd. (Switzerland), L’Oréal Group (France), Christian Dior SE (France), Yves Saint Laurent SAS (France) and Dolce & Gabbana S.r.l. (Italy).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global High End Luxury market by Type and Region with country level break-up.
On the basis of geography, the market of High End Luxury has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In October, 2020 - Louis Vuitton Malletier (LMVH Subsidiary) Lunched its Spring Summer 2021 Collection. The Collection Included Wide Range of Women’s Wallets, Hand Bags, Purses and Clutches. The New Collection Features Iconic Color and Designs offered in LV’s Signature Lockme, Turillion, Epi, and Mahina Leather Categories.
In April, 2021 - Hublot, TAG Heuer & Zenith launch Edgy New Editions of Their Signature Watches. These High-End Luxury Watchmakers, dDesigned a Combination of Heritage, Futuristic, And Ground-Breaking Watches to cater to Rapid Changing Consumer Demand Globally.
Influencing Trend:
Growing Fashion Awareness Among Females
Market Growth Drivers:
High Investments in Celebrity Endorsement and Increasing Disposable Income Among Females
Challenges:
Presence of Counterfeit Products and Lack of Appropriate Regulations
Restraints:
Raw Material Price Fluctuation and Import Tariffs and Custom Duty Charges
Opportunities:
Low Penetration in Emerging Regions Particularly Asia and Increasing Sales across Online Channels
Key Target Audience
Luxury Products Manufactures, New Entrants and Investors, Luxury Products Distributors and Suppliers, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others