Global Luxury Fashion Market (2021-2026) – Key Players Include Armani, Burberry, and Chanel, Among Others – ResearchAndMarkets.com

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DUBLIN – (COMMERCIAL THREAD)–The “Luxury Fashion Market – Global Outlook and Forecasts 2021-2026” report was added to ResearchAndMarkets.com offer.

In-depth analysis and data-driven insights into the impact of COVID-19 are included in this report. The luxury fashion market size was valued at USD 110.64 billion in 2020 and is expected to reach USD 153.97 billion by 2026, with a CAGR of 5.66%.

Luxury fashion online sales are expected to experience considerable growth during the forecast period. The global luxury fashion industry is growing significantly with the increase in the number of wealthy individuals, the increasing popularity among the young population belonging to millennials and millennials, the increase of brand loyalty among customers and the growing association of luxury brands by individuals. The rapidly changing technological landscape and the increasing adoption of technologies such as augmented reality (AR) by the fashion industry, supported by the increasing penetration of digital channels in developing markets, offers new growth opportunities. to suppliers.

Key questions answered:

1. How big is the luxury fashion market?

2. Who are the end users of the luxury clothing industry?

3. Who are the key players in the luxury fashion industry?

4. What are the factors driving the luxury fashion industry?

5. Which region represents the largest share of the luxury fashion market?

The following factors are likely to contribute to the growth of the luxury fashion market

  • Take advantage of augmented reality

  • Growing inclination for sustainable products

  • Internet shapes buying behavior

  • Growing acceptance by millennials and millennials

  • High net worth individuals on the rise

  • Growth in travel and tourism

Highlights

  • Millennials and the Gen Z population are the main drivers of the luxury fashion industry. This can be attributed to their greater focus on experiences, their willingness to pay extra for high-end products, and their openness to experimenting with new things.

  • The psychographic and demographic indicators of end users have changed dramatically in recent years. Factors such as increased internet penetration, strong adoption of smartphones, and increasing number of social media users have provided end users with unparalleled access to information on the go, helping end users take action. informed purchasing decisions.

Market segmentation

Luxury fashion market segments

  • In 2020, luxury clothing was an important part of the luxury fashion industry. This is attributed to the Millennials and Gen Z population who are highly motivated by the latest fashion trends compared to any other age group.

  • In 2020, men accounted for the highest share of the luxury fashion market. Over the past decade, the men’s luxury segment has grown significantly due to increased spending on R&D and the development of new products. Online sales of men’s luxury fashion products are growing continuously with increasing confidence in online channels, improved logistics and brands providing more personalized experiences to customers.

Market segmentation by product type

  • Clothes

  • Shoe

  • Accessories

Market segmentation by end user

Market segmentation by generation

  • Generation X

  • Millennials and Generation Z

  • Baby boomers and the silent generation

Market segmentation by distribution channel

  • In line

  • Single-brand stores

  • Specialty stores

  • Department stores

  • Overpriced stores

  • Airports

Market segmentation by geography

  • APAC

  • China

  • Japan

  • India

  • South Korea

  • Rest of the APAC

  • Europe

  • Germany

  • France

  • UK

  • Italy

  • The rest of europe

  • North America

  • we

  • Canada

  • Middle East and Africa

  • United Arab Emirates

  • Saudi Arabia

  • Rest of the MEA

  • Latin America

  • Brazil

  • Mexico

  • Rest of Latin America

Key suppliers

  • Armani Group

  • Burberry

  • Chanel

  • Hermes

  • Kering

  • LVMH

  • Prada Group

Other important suppliers

  • Capri’s farms

  • Dolce & Gabbana

  • Hugo boss

  • Max Mara Group

  • MCM

  • Moncler

  • sklen

  • Salvatore Ferragamo

  • Tapestry

  • Tom ford

  • Valentino

  • Zegna

For more information on this report, visit https://www.researchandmarkets.com/r/b43y2s


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