This report offers an analysis of both the historic and forecast data of the global luxury apparel market through to 2028. It provides a brief of the key trends along with sales and growth across different regions and category groups. It also highlights the global luxury apparel brands and their current competitive position.
In 2023, after two years of impressive growth propelled by pent-up demand post-pandemic, the global luxury apparel market began to taper as economic challenges in Europe and the US began to hit aspirational shoppers. The market is forecast to have reached $201.6bn, with the resilience of the ultra-wealthy allowing sales growth to remain respectable, at 9.5%. However, 2024 is expected to be an even bigger challenge, with forecast growth of just 4.2%, as consumer confidence remains low, however, luxury will still outperform the total apparel market.
Scope
- Global luxury apparel market to grow at a CAGR of 5.9% between 2023 and 2028, with accessories and Asia Pacific expected to outperform.
- The market will refocus on its core customer of ultra-welathy shoppers as aspirational shoppers are feeling the impact of high inflation and other macroeconomic woes.
- Hermès leads the way within the luxury apparel market, while Gucci continue to see its market share fall.
Reasons to Buy
- Gain an understanding of the drivers of the global luxury apparel market along with data, forecasts along with a region-wise and category-wise analysis
Table of Contents
- Executive Summary
- Key Trends in the Global Luxury Apparel Market
- Global Luxury Apparel Market Drivers
- Global Luxury Market Inhibitors
- The rising quiet luxury trend is boosting the popularity of discreet brands
- Luxury players collaborate with sports brands to attract younger shoppers
- Luxury marketplaces fall into disarray due to cooling online demand
- Strategies for Success
- Global Market Size to 2028
- Global Luxury Apparel Market 2018-2028
- Global Luxury Apparel Market Value 2018-2028
- Global Luxury Apparel Market by Price Positioning Share 2018-2028
- Global Luxury Apparel Market by Price Positioning Growth 2023-2028
- Regional Performance to 2028
- Global Luxury Apparel Market by Regional Share, 2018-2028
- Global Luxury Apparel Market by Regional Growth 2023-2028
- Top 10 Luxury Apparel Markets by Value, 2018-2028
- Top 10 Luxury Apparel Markets by Forecast CAGR, 2023-2028
- Category Performance to 2028
- Global Luxury Apparel Market by Category Share 2018-2028
- Global Luxury Apparel Market by Category Growth 2023-2028
- Global Luxury Apparel Market by Category Value, 2018-2028
- Competitive Landscape: Top 10 Market Shares and Brand Profiles
- Top 10 Brands 2021-2023
- Winners & Losers Outlook
- Brands in Focus: Louis Vuitton
- Brands in Focus: Gucci
- Brands in Focus: Loewe
- Brands in Focus: Miu Miu & Chloé
- Brands to Watch
- Methodology
- Contact the Publisher
- Global Luxury Apparel Market Value, 2018, 2023 & 2028 ($ bn) with five-year CAGR (%)
- Global Luxury Apparel Market Value ($ bn) 2018-2028, and Annual Growth (%)
- Price Positioning Share (%) within the Global Apparel Market, 2018, 2023 & 2028
- Price Positioning Growth (%) within the Global Apparel Market, 2023-2028
- Regional Share (%) within the Global Luxury Apparel Market, 2018, 2023 & 2028
- Regional Growth (%) within the Global Luxury Apparel Market, 2023-2028
- Top 10 Global Luxury Apparel Markets by Value ($ bn) 2018, 2023, 2024 & 2028 with Forecast CAGR (%) 2023-2028
- Top 10 Global Luxury Apparel Markets by Forecast CAGR (%) 2023-2028
- Category Share (%) within the Global Luxury Apparel Market, 2018, 2023 & 2028
- Category Growth (%) within the Global Luxury Apparel Market, 2018-2028
- Global Luxury Apparel Categories by Value ($ bn), 2018, 2023, 2024 & 2028 with Forecast CAGR (%) 2023-2028
- Top 10 Luxury Apparel Brands by Market Share (%), 2021-2023 with Change in Share 2021-2023
- Louis Vuitton’s Luxury Apparel Market Share (%) 2018-2023(f)
- Gucci’s Luxury Apparel Market Share (%) 2018-2023(f)
- Loewe’s Luxury Apparel Market Share (%) 2018-2023(f)
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Hermès
- Gucci
- Louis Vuitton
- Chanel
- Burberry
- Balenciaga
- Jacquemus
- The Row
- Matches
- Farfetch
- Loro Piana
- LVMH
- Khaite
- Nike
- Adidas
- StockX
- Miu Miu
- New Balance
- Yoox-Net-a-Porter
- MyTheresa
- Saint Laurent
- Dior
- Prada
- Fendi
- Moncler
- Loewe
- Chloé
- Coperni
- Di Petsa
- 16Arlington
- Totême
