Global Luxury Apparels Market was valued US$ XX Bn in 2019 and is expected to reach US$ 2.63 Bn by 2026, at a XX % CAGR of around during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
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Global Luxury Apparels Market Dynamics:
Growth in the online mode of sale, rapid urbanization, and change in lifestyle owing to the increased disposable income of the consumers drive the luxury apparels market growth. Moreover, growing attraction of luxury lifestyle and the influence of celebrity endorsement is boosting the market growth. The high cost of raw materials hampers the luxury apparels market growth.
Based on the mode of sale, online platforms provide more options to choose and it is convenient for consumers. Increased preference of consumers for luxury products through online mode is encouraged many new market players to launch their own e-commerce sites. Thus, the online sales platform is expected to exhibit the high growth rate in the luxury apparels market. As offline retail stores have limited growth potential over online retail stores, it is likely to influence sales of luxury apparels in online retail stores during the forecast period.
In terms of material type, denim is the most worn fabric apparel among global consumers and offers a wide range of products than other materials. Apparels, such as denim jackets, jeans, dresses, shirts, shorts, skirts, and tops, are some of the popular and preferred denim apparels used as regular wear. Moreover, unique weaving pattern of raw denim showcases it as a luxury apparel.
Cotton is believed as one of the luxury apparels extensively employed as natural clothing in the textile market all over the world. Pure cotton is believed to be the real luxury due to the kind of weave, namely twill and plain weave utilized. More than 50% of the users all over the world demand for cotton dresses, shirts, and tops, due to its need low maintenance, durability, and cooling capability. Hence, the cotton fabric material made the most income for the global luxury apparels market.
The leather is the second high growing material in luxury apparels market during the forecast period and is expected to exhibit a growth of the market during the forecast period.
Based on gender, it is bifurcated into male and female. Fashion designers are always experimenting with women fashion in terms of material, design, and pallet. Thus, the female segment is dominated not only the global fashion market but also the luxury apparel market. Women in entertainment, modeling, and sports prefer premium fabric clothing made of satin, lace, fur, and polyester that provides them comfort dominating the global luxury apparels market.
Region-wise, North America is likely to hold significant market share in luxury apparels industry followed by Europe region over the forecast period due to increased demand of luxury goods including luxury apparels in the region. The growing attraction of luxury lifestyle, high purchasing power, and the influence of celebrity endorsement is driving the market growth in North America. Asia-Pacific region is estimated to witness a significant growth rate during the forecast period owing to improving distribution network across the region. However, value-added taxes imposed on luxury apparels market by governments and high dominance of key players is restraining the market growth in developing economies.
Global Luxury Apparels Market Regional Analysis:
The objective of the report is to present a comprehensive analysis of the Global Luxury Apparels Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Luxury Apparels Market dynamics, structure by analyzing the market segments and project the Global Luxury Apparels Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Luxury Apparels Market make the report investor’s guide.
Global Luxury Apparels Market, Key Highlights:
• Global Luxury Apparels Market analysis and forecast, in terms of value.
• Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Luxury Apparels Market
• Global Luxury Apparels Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.
• Global Luxury Apparels Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.
• Global Luxury Apparels Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.
• Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.
• Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Luxury Apparels Market are also profiled.
The report has considered the base year of 2019 and past four years trend. 2020 figures are at actuals, however due to different dynamics of year 2020, market forecast is not only dependent upon 2020, but on the basis of 2016-2020.
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Global Luxury Apparels Market, by Material Type:
• Cotton
• Silk
• Leather
• Denim
Global Luxury Apparels Market, by Gender:
• Male
• Female
Global Luxury Apparels Market, by Mode of sale:
• Offline
• Online
Global Luxury Apparels Market, by Region
• North America
• Europe
• Middle East & Africa
• Asia Pacific
• South America
Global Luxury Apparels Market,Key Players
• Kering
• Versace
• Prada
• Dolce and Gabbana
• Burberry
• LVMH
• Giorgio Armani
• Ralph Lauren
• Hugo Boss
• Kiton
• Ermenegildo Zegna
• Chanel
• Christian Dior
• Coach, Inc.
• Michael Kors
• Hermes International, Inc.
• Nike, Inc.
• Tommy Hilfiger USA Inc.
• PVH Corp.
• Phillip Lim
• Kate Spade
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