Luxury Fashion Market Share, Trends, Size & Growth Analysis 2028

Report Description

The global luxury fashion market is witnessing high demand owing to the rising popularity of luxury apparel, accessories and footwear among the younger population. The rising number of luxury fashion brands, with their increasing brand value, and active participation on social media platforms, are also contributing to the overall growth of the luxury fashion market around the globe. For instance, in 2020, Nike had a brand value of USD36.8, and Louis Vuitton had a brand value of USD32.3 billion. Moreover, new product launches by brands, marketing as well promotional strategies by market players as well as the growing presence of luxury brands on e-commerce platforms are further driving the growth of the global luxury fashion market worldwide.

Luxury goods are composed of high-quality materials; thus, they tend to last longer than other products. Moreover, luxury goods are gaining popularity through social media platforms among individuals and increasing company’s reach via retail stores in different countries. For instance, Gucci has nearly 501 stores worldwide, Armani has approximately 500 stores in 46 countries worldwide as of 2021. Moreover, to build a better reach among consumers, many of the brands have launched their mobile application to directly serve the customers.

Luxury clothing is mostly seen as a status symbol for individuals and encourages affluent shoppers to spend discretionary money. Since millennials are more prone than other consumer groups to be influenced by the newest fashion trends, the appeal of luxury apparel is rising among this generation, which is fueling market expansion. The expansion of the luxury apparel market over the past few years has been significantly attributed to advancements in digital marketing and an increase in the usage of digital media for product promotion in developing nations.

Moreover, the amount of convenience that e-commerce retailing offers consumers is the primary factor driving the increase in sales for luxury fashion brands. Additionally, people find it simple to select their favourite brands and obtain a broad range of clothing and associated accessories in accordance with their requirements and preferences. Online platforms offer additional options for consumers to opt from.

Additionally, new product launches in the luxury fashion market are boosting the market growth at a global level. For instance, Burberry, a British luxury brand, and the New Concepts platform at Nordstrom launched the Concept 019: Burberry, a capsule collection in 2022. The collection's offering comprises a range of ready-to-wear items and accessories for men, women, and kids, from separates like graphic T-shirts and knitwear to outerwear designs like trench coats and puffer jackets. The collection also offers, a variety of sophisticated and contemporary metallic items, such as sequined dresses, embossed shoes, accessories, and crystal-embellished jewellery.

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Sponsorships and Social Media Promotions are Propelling the Market's Expansion

The market is expanding as a result of promotions and celebrity endorsements influencing customer purchases. Celebrities are quite valuable to marketers because of their immense influence on fashion, which drives consumers to a particular brand. Celebrities are frequently employed to promote products on social media through their blogs and videos to attract consumers. Social media offers a good platform for product introductions and branding as it expands the brand’s reach to consumers. Moreover, luxury fashion brands are highly vocal about the designers in addition to posting information about their products and prices on social media to adhere to the luxury fashion industry trends. They employ their ambassadors and select a particular theme for a specific season to promote their business. The demand for luxury clothing is greatly influenced by social media, particularly among young people which are using it frequently to get information. On social media, businesses can advertise their brands on a number of sites, including Twitter, Facebook, YouTube, and Instagram. These are the factors that contribute to the expansion of the luxury fashion market share.

Rising Demand from Individuals with High-Net Worth is Driving the Market Growth

Major purchasers of luxury fashion products are high net-worth individuals as they have a greater desire for luxury fashion. As per the data published in the article of Business Insider, United States has more than 140,000 high-net-worth individuals after adding approximately 30,000 more individuals in 2021 with net worth of more than USD50 million. The rising number of net-worth individuals increases, with their strong purchasing power, and changing lifestyle will further contribute to the luxury fashion market growth.

High Prices are Restricting Market Expansion

The price increase of luxury fashion items is primarily high as they are produced using different methods and materials than rapid fashion. In contrast to fast fashion, which frequently uses low-quality printing and dyeing techniques, the luxury fashion is built on the use of high-quality textiles. At every stage of production, luxury brands make sure that their high standards are upheld. High prices limit the customer base for luxury fashion, because a majority of the people globally, who are price sensitive, prefer fast fashion, which is available at affordable prices will further hamper the luxury fashion market demand.

Additionally, the high prices of luxury products make it difficult even for their committed clients to make repeat purchases, which has a negative impact on the market's overall sales volume. Therefore, these factors, along with a small customer base hamper the global luxury fashion market demand.

Market Segmentation

The global luxury fashion market is segmented based on product type, end user and distribution channel. On the basis of product type, the market is divided into apparel, footwear, accessories. On the basis of end user, the market is divided into men, women, children. Based on distribution channel, the market is fragmented into exclusive stores, supermarket & hypermarket, departmental stores, travel retail, others (direct sales, multi branded stores).

Company Profiles

Capri Holdings Limited, Giorgio Armani S.P.A., Burberry Ltd., Chanel S.A., Dolce & Gabbana S.r.l., Tom Ford International LLC, Hugo Boss AG, The Shiseido Company, Ltd., EssilorLuxottica SA, Luxottica Group S.p.A are among the major market players in the global luxury fashion market.

Recent Development

The launch of virtual goods on the metaverse is becoming a big priority for many luxury fashion firms in order to attract a larger audience and increase market sales. Numerous luxury brands, including Gucci, Louis Vuitton, Nike, Adidas, Prada, Ralph Lauren, and others, are observing enormous financial growth due to the integration of artificial intelligence and machine learning, which is increasing audience engagement. Furthermore, in 2021, On the 200th anniversary of the founding of Louis Vuitton, the company developed a mobile game called "Louis the Game" in collaboration with digital artists Beeple. The game allowed players to customize their avatars with a variety of Louis Vuitton prints and other collectibles that surfaced during gameplay.
In 2020, Hermes opened its first digital flagship stores in Saudi Arabia (KSA) and the United Arab Emirates. This allows customers to view the brand's luxury collections. In addition, the website offers a variety of other elements, such as short films, essays that explore the Hermes universe, and the most recent round of fashion shows.
In 2021, tt their Alta Moda couture presentation in Venice, the Italian design brand Dolce & Gabbana unveiled Dolce & Gabbana Casa, their first-ever home decor collection. It included everything from furniture for dining and seating to cabinets is decorated with one of four distinctive patterns: Mediterranean Blue, Carretto, Leo, and Zebra.

Attribute	Details
Base Year	2022
Historical Years	2018 – 2021
Estimated Year	2023
Forecast Period	2024 – 2028
Quantitative Units	Revenue in USD Billion and CAGR for 2018-2022 and 2023-2028
Report Coverage	Revenue forecast, company share, competitive landscape, growth factors, and trends
Segments Covered	Product Type End User Distribution Channel Region
Regional Scope	North America, Europe, Asia-Pacific, Middle East & Africa and South America
Country Scope	United States; Canada; Mexico; France; Germany; Spain; Netherlands; United Kingdom; China; India; Japan; Vietnam; South Korea; Indonesia, Saudi Arabia; South Africa; UAE; Turkey; Brazil; Argentina; Colombia
Key Companies Profiled	Capri Holdings Limited, Giorgio Armani S.P.A., Burberry Ltd., Chanel S.A., Dolce & Gabbana S.r.l., Tom Ford International LLC, Hugo Boss AG, The Shiseido Company, Ltd., EssilorLuxottica SA, Luxottica Group S.p.A
Customization Scope	10% free report customization with purchase. Addition or alteration to country, regional & segment scope.
Pricing and Purchase Options	Avail of customized purchase options to meet your exact research needs. Explore purchase options
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)

Report Scope:

In this report, the global luxury fashion market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Luxury Fashion Market, By Product Type:

Apparel
Footwear
Accessories

Luxury Fashion Market, By End User:

Men
Women
Children

Luxury Fashion Market, By Distribution Channel:

Exclusive Stores
Supermarket & Hypermarket
Departmental Stores
Travel Retail
Others

Global Luxury Fashion Market, By Region:

North America

United States
Canada
Mexico

Europe

France
Germany
Spain
Netherlands
United Kingdom

Asia-Pacific

China
India
Japan
Vietnam
South Korea
Indonesia

Middle East & Africa

Saudi Arabia
South Africa
UAE
Turkey

South America

Brazil
Argentina
Colombia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the global luxury fashion market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Table of content

1. Introduction

1.1. Product Overview

1.2. Key Highlights of the Report

1.3. Market Coverage

1.4. Market Segments Covered

1.5. Research Tenure Considered

2. Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validation

2.7. Assumptions and Limitations

3. Executive Summary

3.1. Market Overview

3.2. Market Forecast

3.3. Key Regions

3.4. Key Segments

4. Voice of Customer Analysis (B2C Model Analysis)

4.1. Sample Size Determination

4.2. Respondent Demographics

4.2.1. By Gender

4.2.2. By Age

4.2.3. By Occupation

4.3. Brand Awareness

4.4. Frequency of Purchase

4.5. Factors Influencing Purchase Decision

4.6. Customer Satisfaction

5. Global Luxury Fashion Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value

5.2. Market Share & Forecast

5.2.1. By Product Type Market Share Analysis (Apparel, Footwear, Accessories)

5.2.2. By End User Market Share Analysis (Men, Women, Children)

5.2.3. By Distribution Channel Market Share Analysis (Exclusive Stores, Supermarket & Hypermarket, Departmental Stores, Travel Retail, (Direct Sales, Multi Branded Stores)

5.2.4. By Regional Market Share Analysis

5.2.4.1. North America Market Share Analysis

5.2.4.2. South America Market Share Analysis

5.2.4.3. Middle East & Africa Market Share Analysis

5.2.4.4. Europe Market Share Analysis

5.2.4.5. Asia -Pacific Market Share Analysis

5.2.5. By Company Market Share Analysis

5.3. Global Luxury Fashion Market Mapping & Opportunity Assessment

5.3.1. By Product Type Market Mapping & Opportunity Assessment

5.3.2. By End User Market Mapping & Opportunity Assessment

5.3.3. By Distribution Channel Market Mapping & Opportunity Assessment

5.3.4. By Regional Market Mapping & Opportunity Assessment

6. North America Luxury Fashion Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Product Type Market Share Analysis

6.2.2. By End User Market Share Analysis

6.2.3. By Distribution Channel Market Share Analysis

6.2.4. By Country Market Share Analysis

6.2.4.1. United States Luxury Fashion Market Outlook

6.2.4.1.1. Market Size & Forecast

6.2.4.1.1.1. By Value

6.2.4.1.2. Market Share & Forecast

6.2.4.1.2.1. By Product Type Market Share Analysis

6.2.4.1.2.2. By End User Market Share Analysis

6.2.4.1.2.3. By Distribution Channel Market Share Analysis

6.2.4.2. Canada Luxury Fashion Market Outlook

6.2.4.2.1. Market Size & Forecast

6.2.4.2.1.1. By Value

6.2.4.2.2. Market Share & Forecast

6.2.4.2.2.1. By Product Type Market Share Analysis

6.2.4.2.2.2. By End User Market Share Analysis

6.2.4.2.2.3. By Distribution Channel Market Share Analysis

6.2.4.3. Mexico Luxury Fashion Market Outlook

6.2.4.3.1. Market Size & Forecast

6.2.4.3.1.1. By Value

6.2.4.3.2. Market Share & Forecast

6.2.4.3.2.1. By Product Type Market Share Analysis

6.2.4.3.2.2. By End User Market Share Analysis

6.2.4.3.2.3. By Distribution Channel Market Share Analysis

7. Europe Luxury Fashion Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Product Type Market Share Analysis

7.2.2. By End User Market Share Analysis

7.2.3. By Distribution Channel Market Share Analysis

7.2.4. By Country Market Share Analysis

7.2.4.1. France Luxury Fashion Market Outlook

7.2.4.1.1. Market Size & Forecast

7.2.4.1.1.1. By Value

7.2.4.1.2. Market Share & Forecast

7.2.4.1.2.1. By Product Type Market Share Analysis

7.2.4.1.2.2. By End User Market Share Analysis

7.2.4.1.2.3. By Distribution Channel Market Share Analysis

7.2.4.2. Germany Luxury Fashion Market Outlook

7.2.4.2.1. Market Size & Forecast

7.2.4.2.1.1. By Value

7.2.4.2.2. Market Share & Forecast

7.2.4.2.2.1. By Product Type Market Share Analysis

7.2.4.2.2.2. By End User Market Share Analysis

7.2.4.2.2.3. By Distribution Channel Market Share Analysis

7.2.4.3. Spain Luxury Fashion Market Outlook

7.2.4.3.1. Market Size & Forecast

7.2.4.3.1.1. By Value

7.2.4.3.2. Market Share & Forecast

7.2.4.3.2.1. By Product Type Market Share Analysis

7.2.4.3.2.2. By End User Market Share Analysis

7.2.4.3.2.3. By Distribution Channel Market Share Analysis

7.2.4.4. Netherlands Luxury Fashion Market Outlook

7.2.4.4.1. Market Size & Forecast

7.2.4.4.1.1. By Value

7.2.4.4.2. Market Share & Forecast

7.2.4.4.2.1. By Product Type Market Share Analysis

7.2.4.4.2.2. By End User Market Share Analysis

7.2.4.4.2.3. By Distribution Channel Market Share Analysis

7.2.4.5. United Kingdom Luxury Fashion Market Outlook

7.2.4.5.1. Market Size & Forecast

7.2.4.5.1.1. By Value

7.2.4.5.2. Market Share & Forecast

7.2.4.5.2.1. By Product Type Market Share Analysis

7.2.4.5.2.2. By End User Market Share Analysis

7.2.4.5.2.3. By Distribution Channel Market Share Analysis

8. Asia-Pacific Luxury Fashion Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Product Type Market Share Analysis

8.2.2. By End User Market Share Analysis

8.2.3. By Distribution Channel Market Share Analysis

8.2.4. By Country Market Share Analysis

8.2.4.1. China Luxury Fashion Market Outlook

8.2.4.1.1. Market Size & Forecast

8.2.4.1.1.1. By Value

8.2.4.1.2. Market Share & Forecast

8.2.4.1.2.1. By Product Type Market Share Analysis

8.2.4.1.2.2. By End User Market Share Analysis

8.2.4.1.2.3. By Distribution Channel Market Share Analysis

8.2.4.2. Japan Luxury Fashion Market Outlook

8.2.4.2.1. Market Size & Forecast

8.2.4.2.1.1. By Value

8.2.4.2.2. Market Share & Forecast

8.2.4.2.2.1. By Product Type Market Share Analysis

8.2.4.2.2.2. By End User Market Share Analysis

8.2.4.2.2.3. By Distribution Channel Market Share Analysis

8.2.4.3. India Luxury Fashion Market Outlook

8.2.4.3.1. Market Size & Forecast

8.2.4.3.1.1. By Value

8.2.4.3.2. Market Share & Forecast

8.2.4.3.2.1. By Product Type Market Share Analysis

8.2.4.3.2.2. By End User Market Share Analysis

8.2.4.3.2.3. By Distribution Channel Market Share Analysis

8.2.4.4. Vietnam Luxury Fashion Market Outlook

8.2.4.4.1. Market Size & Forecast

8.2.4.4.1.1. By Value

8.2.4.4.2. Market Share & Forecast

8.2.4.4.2.1. By Product Type Market Share Analysis

8.2.4.4.2.2. By End User Market Share Analysis

8.2.4.4.2.3. By Distribution Channel Market Share Analysis

8.2.4.5. South Korea Luxury Fashion Market Outlook

8.2.4.5.1. Market Size & Forecast

8.2.4.5.1.1. By Value

8.2.4.5.2. By Product Type Market Share Analysis

8.2.4.5.3. By End User Market Share Analysis

8.2.4.5.4. By Distribution Channel Market Share Analysis

8.2.4.6. Indonesia Luxury Fashion Market Outlook

8.2.4.6.1. Market Size & Forecast

8.2.4.6.1.1. By Value

8.2.4.6.2. Market Share & Forecast

8.2.4.6.2.1. By Product Type Market Share Analysis

8.2.4.6.2.2. By End User Market Share Analysis

8.2.4.6.2.3. By Distribution Channel Market Share Analysis

9. Middle East & Africa Luxury Fashion Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Product Type Market Share Analysis

9.2.2. By End User Market Share Analysis

9.2.3. By Distribution Channel Market Share Analysis

9.2.4. By Country Market Share Analysis

9.2.4.1. South Africa Luxury Fashion Market Outlook

9.2.4.1.1. Market Size & Forecast

9.2.4.1.1.1. By Value

9.2.4.1.2. Market Share & Forecast

9.2.4.1.2.1. By Product Type Market Share Analysis

9.2.4.1.2.2. By End User Market Share Analysis

9.2.4.1.2.3. By Distribution Channel Market Share Analysis

9.2.4.2. Saudi Arabia Luxury Fashion Market Outlook

9.2.4.2.1. Market Size & Forecast

9.2.4.2.1.1. By Value

9.2.4.2.2. Market Share & Forecast

9.2.4.2.2.1. By Product Type Market Share Analysis

9.2.4.2.2.2. By End User Market Share Analysis

9.2.4.2.2.3. By Distribution Channel Market Share Analysis

9.2.4.3. UAE Luxury Fashion Market Outlook

9.2.4.3.1. Market Size & Forecast

9.2.4.3.1.1. By Value

9.2.4.3.2. Market Share & Forecast

9.2.4.3.2.1. By Product Type Market Share Analysis

9.2.4.3.2.2. By End User Market Share Analysis

9.2.4.3.2.3. By Distribution Channel Market Share Analysis

9.2.4.4. Turkey Luxury Fashion Market Outlook

9.2.4.4.1. Market Size & Forecast

9.2.4.4.1.1. By Value

9.2.4.4.2. Market Share & Forecast

9.2.4.4.2.1. By Product Type Market Share Analysis

9.2.4.4.2.2. By End User Market Share Analysis

9.2.4.4.2.3. By Distribution Channel Market Share Analysis

10. South America Luxury Fashion Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1. By Product Type Market Share Analysis

10.2.2. By End User Market Share Analysis

10.2.3. By Distribution Channel Market Share Analysis

10.2.4. By Country Market Share Analysis

10.2.4.1. Argentina Luxury Fashion Market Outlook

10.2.4.1.1. Market Size & Forecast

10.2.4.1.1.1. By Value

10.2.4.1.2. Market Share & Forecast

10.2.4.1.2.1. By Product Type Market Share Analysis

10.2.4.1.2.2. By End User Market Share Analysis

10.2.4.1.2.3. By Distribution Channel Market Share Analysis

10.2.4.2. Colombia Luxury Fashion Market Outlook

10.2.4.2.1. Market Size & Forecast

10.2.4.2.1.1. By Value

10.2.4.2.2. Market Share & Forecast

10.2.4.2.2.1. By Product Type Market Share Analysis

10.2.4.2.2.2. By End User Market Share Analysis

10.2.4.2.2.3. By Distribution Channel Market Share Analysis

10.2.4.3. Brazil Luxury Fashion Market Outlook

10.2.4.3.1. Market Size & Forecast

10.2.4.3.1.1. By Value

10.2.4.3.2. Market Share & Forecast

10.2.4.3.2.1. By Product Type Market Share Analysis

10.2.4.3.2.2. By End User Market Share Analysis

10.2.4.3.2.3. By Distribution Channel Market Share Analysis

11. Market Dynamics

11.1. Drivers

11.1.1. Rising Net-worth of Individuals

11.1.2. Increasing Brand Sponsorship and Social Media Presence

11.1.3. Growing Popularity of Luxury Products

11.2. Challenges

11.2.1. High Product Prices

11.2.2. Presence of Counterfeit Products

12. Impact of COVID-19 on Global Luxury Fashion Market

12.1. Impact Assessment Model

12.1.1. Key Segments Impacted

12.1.2. Key Regions Impacted

12.1.3. Key Countries Impacted

12.1.4. Key Distribution Channel Impacted

13. Market Trends & Developments

13.1. Rising Demand through Online Channels

13.2. Shifting Trend Towards Sustainable Products

13.3. High Demand from Female Population

13.4. Increasing Preference for Branded Products

14. Porter’s Five Forces Model

14.1. Competitive Rivalry

14.2. Bargaining Power of Buyers

14.3. Bargaining Power of Suppliers

14.4. Threat of New Entrants

14.5. Threat of Substitutes

15. SWOT Analysis

15.1. Strengths

15.2. Weaknesses

15.3. Opportunities

15.4. Threats

16. Competitive Landscape

16.1. Company Profiles

16.1.1. Capri Holdings Limited

16.1.1.1. Company Details

16.1.1.2. Product & Services

16.1.1.3. Financials (As Per Availability)

16.1.1.4. Key Market Focus & Geographical Presence

16.1.1.5. Recent Developments

16.1.1.6. Key Management Personnel

16.1.2. Giorgio Armani S.P.A.

16.1.2.1. Company Details

16.1.2.2. Product & Services

16.1.2.3. Financials (As Per Availability)

16.1.2.4. Key Market Focus & Geographical Presence

16.1.2.5. Recent Developments

16.1.2.6. Key Management Personnel

16.1.3. Burberry Ltd.,

16.1.3.1. Company Details

16.1.3.2. Product & Services

16.1.3.3. Financials (As Per Availability)

16.1.3.4. Key Market Focus & Geographical Presence

16.1.3.5. Recent Developments

16.1.3.6. Key Management Personnel

16.1.4. Chanel S.A.,

16.1.4.1. Company Details

16.1.4.2. Product & Services

16.1.4.3. Financials (As Per Availability)

16.1.4.4. Key Market Focus & Geographical Presence

16.1.4.5. Recent Developments

16.1.4.6. Key Management Personnel

16.1.5. Dolce & Gabbana S.r.l

16.1.5.1. Company Details

16.1.5.2. Product & Services

16.1.5.3. Financials (As Per Availability)

16.1.5.4. Key Market Focus & Geographical Presence

16.1.5.5. Recent Developments

16.1.5.6. Key Management Personnel

16.1.6. Tom Ford International LLC

16.1.6.1. Company Details

16.1.6.2. Product & Services

16.1.6.3. Financials (As Per Availability)

16.1.6.4. Key Market Focus & Geographical Presence

16.1.6.5. Recent Developments

16.1.6.6. Key Management Personnel

16.1.7. Hugo Boss AG

16.1.7.1. Company Details

16.1.7.2. Product & Services

16.1.7.3. Financials (As Per Availability)

16.1.7.4. Key Market Focus & Geographical Presence

16.1.7.5. Recent Developments

16.1.7.6. Key Management Personnel

16.1.8. The Shiseido Company, Ltd.,

16.1.8.1. Company Details

16.1.8.2. Product & Services

16.1.8.3. Financials (As Per Availability)

16.1.8.4. Key Market Focus & Geographical Presence

16.1.8.5. Recent Developments

16.1.8.6. Key Management Personnel

16.1.9. EssilorLuxottica SA

16.1.9.1. Company Details

16.1.9.2. Product & Services

16.1.9.3. Financials (As Per Availability)

16.1.9.4. Key Market Focus & Geographical Presence

16.1.9.5. Recent Developments

16.1.9.6. Key Management Personnel

16.1.10. Luxottica Group S.p.A

16.1.10.1. Company Details

16.1.10.2. Product & Services

16.1.10.3. Financials (As Per Availability)

16.1.10.4. Key Market Focus & Geographical Presence

16.1.10.5. Recent Developments

16.1.10.6. Key Management Personnel

17. Strategic Recommendations/Action Plan

17.1. Key Focus Areas

17.2. Target Regions & Countries

17.3. Target Product Type

18. About Us & Disclaimer

Figures and Tables

Frequently asked questions

Is the luxury fashion market growing?

Yes, the luxury fashion market is growing at a high rate. Millennials, who are more influenced by the most recent fashion trends than any other age group, are driving the market expansion in the apparel sector. The luxury fashion sector is also expanding as a result of consumers becoming more aware of their appearance and sense of style.

In end user which segment will dominate the global luxury fashion market?

Due to the growing awareness of product availability among women, the women's sector held the largest market share in the end user segment. In order to boost their self-confidence and looks, women are increasingly incorporating personal fashion products into their everyday routines, which is significantly boosting the segment's growth. As women are more concerned with their appearance and fashion, the female luxury fashion market is expected to rise during the projected period.

Which is the target market for luxury fashion brands?

The target market for luxury fashion brands today includes consumers in the range of 25 -44 years. They make up 64% of the customers, owing to increasing social media advertisements by luxury brands' which are raising their level of awareness. Moreover, the increasing penetration of e-commerce in different countries is boosting the demand for luxury fashion among millennials.

What makes a fashion brand luxury?

Luxury is something that is expensive, of a top quality, durable, but futuristic. Though distinctive, it has an appealing appearance. Moreover, the service provided by luxury brands is of premium quality as they believe consumer can only be attracted through best quality and services.

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