Luxury Apparel Market Size, Industry Analysis Report By Distribution Channel (Online Retail, Offline Retail), By End User (Men, Women) & Region – Forecasts By 2023 - 2030
- PUBLISHED ON
- 2024-06-12
- NO OF PAGES
- 207
- CATEGORY
- Retails & Consumer
It is estimated for the global luxury apparel market to witness growth at a CAGR of 4.1% during the forecast period of 2022 to 2030. The market witnessed growth at a CAGR of 2.8% during the previous forecast period of 2018 to 2021. Luxury Apparel includes designer clothing and clothing accessories that are made ready-to-wear. The overall market definition follows the Consumer Market Outlook's Apparel market, while here only sales of luxury brands are considered.
Luxury Apparel Market - Growth Factors
The growth in the appeal to look good and stylish to match the peers in the society is estimated to boost the growth of the market during the forecast period. Wearing luxury apparels is considered as a matter pride and this factor is also considered to boost the growth of the market during the forecast period. The increasing disposable income is also providing people with the luxury to opt for branded apparels and this factor is also estimated to boost the growth of the market during the forecast period. The decrease in the ticket prices of various tourist destinations is also making people shop for luxury apparels as per the geographical location they are travelling to and this factor is also estimated to boost the growth of the market during the forecast period. However, the rising prices of the luxury apparels is estimated to hamper the growth of the market during the forecast period.
Luxury Apparel Market - Market Trends
• Wearing luxury apparels is considered as a matter pride and this factor is also considered to boost the growth of the market during the forecast period.
• The increasing disposable income is also providing people with the luxury to opt for branded apparels and this factor is also estimated to boost the growth of the market during the forecast period.
• The decrease in the ticket prices of various tourist destinations is also making people shop for luxury apparels as per the geographical location they are travelling to and this factor is also estimated to boost the growth of the market during the forecast period.
Luxury Apparel Market – Segmentation
The global luxury apparel market is segmented based on end user and distribution channel.
Based on the end user, the market is segmented into,
• Men
• Women
Based on the distribution channel, the market is segmented into,
• Offline Retail
• Online Retail
Luxury Apparel Market – Regional Analysis
It is estimated for the region of US to drive the growth of the market during the forecast period. The growing in the technological advancements in the food sector in the region is estimated to foster the growth of the market during the forecast period. The region of Europe is estimated to witness growth at a healthy rate during the forecast period. The Asia Pacific region is also estimated to witness a notable growth rate in the market.
Luxury Apparel Market – Key Market players
Giorgio Armani, Burberry, Dolce & Gabbana, Prada, Kate Spade, Phillip Lim, and PVH Corp. (Calvin Klein) are the major players that are driving the growth of the market during the forecast period.
Quality Assurance Process
- We Market Research’s Quality Assurance program strives to deliver superior value to our clients.
We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.
Market Research Process
We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.
To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
- Project kickoff meeting with client
- Conduct frequent client communications
- Form project steering committee
- Assign a senior SR executive as QA Executive
- Conduct internal editorial & quality reviews of project deliverables
- Certify project staff in SR methodologies & standards
- Monitor client satisfaction
- Monitor realized value post-project
Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
}})
Select a license type that suits your business needs
US $3499
Only Three Thousand Four Hundred Ninety Nine US dollar
- 1 User access
- 15% Additional Free Customization
- Free Unlimited post-sale support
- 100% Service Guarantee until achievement of ROI
US $4499
Only Four Thousand Four Hundred Ninety Nine US dollar
- 5 Users access
- 25% Additional Free Customization
- Access Report summaries for Free
- Guaranteed service
- Dedicated Account Manager
- Discount of 20% on next purchase
- Get personalized market brief from Lead Author
- Printing of Report permitted
- Discount of 20% on next purchase
- 100% Service Guarantee until achievement of ROI
US $5499
Only Five Thousand Four Hundred Ninety Nine US dollar
- Unlimited User Access
- 30% Additional Free Customization
- Exclusive Previews to latest or upcoming reports
- Discount of 30% on next purchase
- 100% Service Guarantee until achievement of ROI