About Luxury Clothing
Luxury clothing refers to high-end, premium-quality garments that are associated with superior craftsmanship, exquisite materials, and exclusive design. These clothing items are often produced by prestigious fashion houses or designers known for their dedication to precision, attention to detail, and the use of luxurious fabrics. Luxury clothing is characterized by its unique and sophisticated designs, impeccable tailoring, and the incorporation of high-quality materials such as fine silks, cashmere, leather, and other premium textiles.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 6.2% |
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. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Luxury Clothing market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Kering SA (France), Ermenegildo Zegna (Italy), Kiton (Italy), Hugo Boss A.G (Germany), Hermes International S.A (France), Versace (Italy), Prada S.P.A. (Italy), Dolce and Gabbana (Italy), Burberry Group Inc. (United Kingdom) and LVMH Moet Hennessy Louis Vuitton S.E (France) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Christian Dior SE (France), Gucci (Italy), Giorgio Armani S.P.A (Italy) and Ralph Lauren Corporation (United States).
Segmentation Overview
AMA Research has segmented the market of Global Luxury Clothing market by Type (Cotton, Leather, Silk and Others) and Region.
On the basis of geography, the market of Luxury Clothing 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). If we see Market by Mode of Payment, the sub-segment i.e. Cash on delivery will boost the Luxury Clothing market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Clothing Type, the sub-segment i.e. Underwear & Upper wear will boost the Luxury Clothing market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. Online (Company Websites and E-Tailer Websites) will boost the Luxury Clothing market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Men will boost the Luxury Clothing market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Adoption of Cotton Apparels
Market Growth Drivers:
Growing Disposable Income across the Globe, Influence of Media, Celebrity Endorsement, Promotional Discount and Festive Sale and Increasing Demand for Soft, Comfortable, and Breathable Apparels
Challenges:
Volatile Consumer Demand as well as Fashion Preferences and Increasing Need for Sustainable Alternatives to Conventional Textile Manufacturing
Restraints:
High Cost Associated With the Luxury Clothing
Opportunities:
Rising Adoption of Online Sales in Apparel Industry and Surging International Trades for Luxury Apparel Market
Market Leaders and their expansionary development strategies
In October 2023, Burberry partners with Minecraft for an immersive virtual fashion experience within the game, allowing players to wear digital Burberry creations. Freedom to Go Beyond’, a physical partnered capsule collection and a range of extensions and experiences, the collaboration allows consumers to both physically and digitally immerse.
In December 2023, Balenciaga debuts Virtual Couture collection exclusively for the metaverse, blurring the lines between physical and digital fashion and catering to a tech-savvy clientele.
The United States Government’s ‘Customs and Border Protection (CBP)’ and ‘the Federal Trade Commission (FTC)’ has enforced the labeling laws and acts in the Country. In general, textile and apparel products sold in the United States must be labeled with the information regarding the fiber content, the country of origin, the manufacturer or dealer identity, and the care instructions.
Key Target Audience
Luxury Clothing Manufacturers, Luxury Clothing Distributors and Traders, Luxury Clothing Raw Material Suppliers, Government Agencies, Textile Industry Associations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.