Luxury Fashion Market Insights 2019: Industry Research Report by Growth, Size, Share, Brand Statistics, Production, Consumption, Challenges and Future Trends 2022

Globally, luxury fashion market has been increasing due to improved offerings for affordable and lower-priced luxury fashion.

Enhanced product line differentiation, segmentation, improved digital marketing tools through various popular social media websites specific to regions is positively influencing the luxury fashion market.

Hence, luxury fashion market is expected to grow at CAGR of more than 5% from 2016 to 2022.Europe and North-America dominates the luxury fashion market share during the period 2011-2015 due to the presence of major market players in these regions.Ask for your specific company profile and country level customization on reports.This report includes a study of strategies, of major market players.

This report also helps in studying the target segments by providing views on emerging & high-growth segments and market conclusion.

Together the market data comprise and discuss with the basic assessments on the competitive scenarios & strategies, of the global luxury fashion market, including the high-growth regions, countries and their political, economic and technological environments.

Furthermore the project report also provides the views over the historical market values as well as, pricing and cost analysis of the same.Get a Sample Report @ https://www.marketresearchfuture.com/sample_request/1770Key Findings:Secondary data reveals that among the various market segments accessories specifically watches and jewelry witnessed highest growth followed by clothing in the last few yearsClothing and accessories dominates the luxury fashion market both in market volumeRise in women working population across the world has boosted the luxury fashion product sales to a greater extent, traction for branded items, rise in disposable incomes continue to support growth of the luxury fashion marketKey PlayersThe key players profiled in luxury fashion market are Louis Vuitton, Hermès, Gucci, Chanel, Rolex, Cartier, Prada, Burberry, Michael Kors, Tiffany, Zara, and Dolce & GabbanaRegional Analysis:The global luxury fashion market, by region, has been segmented into Europe, Asia Pacific, North America, and the Rest of the World (RoW).

According to a recent report published by KD Market Insights, titled, GCC Pre-Owned Luxury Goods Market 2018: Market Size, Trends, Opportunity, Forecast 2018-2024, “the GCC pre-owned luxury goods market accounted for USD 884.7 Million in 2018 and is estimated to reach USD 1,610.9 Million by 2024. Moreover, it is anticipated to flourish at a CAGR of 10.9% during the forecast period i.e. 2019-2024. Strong consumption of luxury goods in countries such as UAE and Dubai are opening new avenues for pre-owned luxury goods market in GCC region. Middle East consumers have the highest per capita spending on luxury goods in the world and are open to spend on pre-owned luxury goods due high costs of rents and education, added to the uncertainty in the job market. Pre-owned luxury start-ups are doing great in this region and are expecting a strong market growth in region in upcoming years.

GCC pre-owned luxury goods market has been segmented on the basis of product type and distribution channel. Based on the product type, this market has been segmented into clothing, footwear, bags, jewelry & watches and accessories. The market value of GCC pre-owned luxury goods market for bags segment is expected to rise at a CAGR of 10.2% over the forecast period. Further, the GCC pre-owned luxury goods market for bags segment is expected to reach USD 996.4 Million by the end of 2024.

In the distribution channel segment, the GCC pre-owned luxury goods market is sub-segmented into online stores and offline stores.

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Increasing Disposable Income

According to GCC statistical center, Saudi Arabia captured around 57.7% of the disposable income in GCC and is followed by United Arab Emirates with a percentage of 28.5. Further, with this rising disposable income in the region, the population is shifting towards the pre-owned luxury goods. Also, the consumers across the regions are adopting second-hand luxury goods in order to improvise and maintain their lifestyle. Moreover, consumers are adopting second-hand goods in order to cut their expenses on purchase of luxury items and expensive goods. This factor is expected to positively impact the growth of pre-owned luxury goods market in the upcoming years.

Major Advantages in GCC

The top countries in the Gulf Cooperation Council such as UAE, Qatar, Saudi Arabia and Kuwait are exceptionally dynamic markets which are offering high growth potential in the pre-owned luxury goods market. The visitors to Dubai and Abu Dhabi are attracted by luxury boutiques, iconic shopping malls & high-end hotels. In addition to this, the iconic luxury brands are retaining their leading position in the UAE to attract the residents and tourists. Further, these factors are expected to likely impact the growth of the pre-owned luxury goods market.

Competitive Landscape:

The report also covers detailed competitive analysis of major market players of GCC pre-owned luxury goods market, such as The Luxury Closet, Inc., The Closet, INSELLER, Bagatelle Boutique, Seconds Used Items, Garderobe, Timepiece360, So Chic Boutique, FENDI, Luxury Souq and other major and niche players. GCC pre-owned luxury goods market is witnessing a wide range of industry activities such as strategic development, expansion, acquisition, agreement, and partnership across the globe. For instance, on 12th December 2016, The Luxury Closet, Inc. launched its app to complement its existing e-commerce platform. This app seamlessly links the customer to the main site. This strategic development helped the company to strengthen its position in the pre-owned luxury goods market.

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Market HighlightsThe global luxury fashion market is projected to be valued at USD 333,775.3 million by 2028, recording a CAGR of 3.59% during the forecast period.

The global luxury fashion market has been growing over the last few years and is projected to reach USD 333,775.3 million by 2028 at a CAGR of 3.59% from 2021 to 2028.

Moreover, strategic mergers & acquisitions and increased demand for sustainable and recycled collections are expected to be prime opportunities for market players.

However, a limited customer base and the rising threat of counterfeit products are expected to hamper the market in the years to come.Strict containment measures imposed by the governments of various countries and preventive measures to control the impact of the outbreak have led to significant restrictions in transportations, driving a knock-on effect globally.

Transportation is crucial in the supply chain of any market, as it is responsible for transferring the raw materials to manufacturers and then distribute the final product from the manufacturers to the retail market.

The low efficiency of e-commerce websites and logistics companies' delivery systems and disruptions in international and modern trade has severely impacted the supply chain of the luxury fashion market.The global luxury fashion market size is projected to exhibit a CAGR of 3.59% during the forecast period of 2021 to 2028.Key PlayersMarket Research Future has recognized Ralph Lauren (US), Capri Holdings Limited (US), PVH Corp. (US), Kering (France), LVMH (France), Inditex (Spain), Giorgio Armani S.P.A. (Italy), Chanel S.A. (France), Dolce & Gabbana (Italy), and Burberry Ltd (UK)as the key players in the global luxury fashion market.Segmental AnalysisThe global luxury fashion market has been segmented based on product type, end user, distribution channel, and region.Based on product type, the global luxury fashion market has been segmented into clothing & apparel, footwear, and accessories.

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