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Europe Luxury Goods Market Size, Share, Trends, Analysis: By Product Type: Watches and Jewellery, Perfumes and Cosmetics, Clothing, Bags/Purse, Others; By End Use: Women, Men; By Distribution Channel: Offline, Online; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032
Europe Luxury Goods Market Size
The Europe luxury goods market reached USD 113.38 billion in 2023. The market is expected to grow at a CAGR of 3.8% between 2024 and 2032, reaching USD 158.33 billion by 2032.
Europe Luxury Goods Market Outlook
- As per the World Bank, income share held by the highest 10% in France, Italy and the UK in 2022 was 24.9%, 26.2% and 25% respectively.
- As per the Federal Statistical Office, in Germany, approximately 27,400 taxpayers had an income of one million euros or more.
- As per the Office for National Statistics, in 2020, average annual gross income for all individuals in the top percentile was GBP 655,553 in UK.
Europe Luxury Goods Market Growth
The Europe luxury goods market growth is boosted by the different distribution channels that are available in the form of luxury malls and boutiques as offline channels.
Offline distribution channels carry opulence, affluence and the idea of being exclusive, these comprise boutique stores along prestigious streets, department stores that showcase a diverse range of high-end products, and luxury malls that offer curated selections. These offline avenues evoke a sense of tradition and heritage and appeal to consumers seeking sophistication in their shopping experiences.
Brands in the luxury goods market are constantly competing for market share owing to a steady rise in industry activity owing to many mergers and acquisitions. In August 2023 two major luxury goods brands Coach and Versace merged. In January 2021 LVMH completed the acquisition of Tiffany & Co. for USD 16.2 billion.
On the other hand, online distribution channels act as dynamic platforms reshaping the Europe luxury goods market. Luxury brands offer convenience and global access to their products via brand websites, marketplaces, and social media platforms, engaging with consumers in new and innovative ways. The digital sphere also provides opportunities for customer engagement, reflecting the evolving preferences and behaviours of luxury shoppers.
Europe Luxury Goods Market Segmentation
Europe Luxury Goods Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Product Type
- Watches and Jewellery
- Perfumes and Cosmetics
- Clothing
- Bags/Purse
- Others
Market Breakup by End Use
- Women
- Men
Market Breakup by Distribution Channel
- Offline
- Online
Market Breakup by Country
- Germany
- United Kingdom
- France
- Italy
- Others
Europe Luxury Goods Market Share
Watches and jewellery lead the luxury goods market in Europe, they are the quintessential luxury items that hold aesthetic, symbolic and sentimental value representing premium craftsmanship, prestige and luxury. High-end watch brands like Rolex and Audemars Piguet are highly coveted investment-worthy accessories with high resale value and are often associated with tradition and heritage.
Leading Companies in the Europe Luxury Goods Market
The report provides a detailed analysis of the following key players in the market, covering their competitive landscape and the latest developments like mergers and acquisitions, investments, and capacity expansion.
- Chanel Limited
- Kering SA
- Rolex SA
- Hermès International S.A.
- Giorgio Armani S.p.A.
- Ralph Lauren Corporation
- Compagnie Financière Richemont SA
- Prada SpA
- VALENTINO S.p.A.
- Tiffany & Co.
- Others
Growing outreach by major market players is largely due to the rise in digitalization and e-commerce with more consumers turning to online channels. Personalization and customization also drive customer loyalty and engagement in the industry.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product Type |
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| Breakup by End Use |
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| Breakup by Distribution Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global Luxury Goods Market Overview
8.1 Key Industry Highlights
8.2 Global Luxury Goods Historical Market (2018-2023)
8.3 Global Luxury Goods Market Forecast (2024-2032)
8.4 Global Luxury Goods Market Share by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 Europe Luxury Goods Market Overview
9.1 Key Industry Highlights
9.2 Europe Luxury Goods Historical Market (2018-2023)
9.3 Europe Luxury Goods Market Forecast (2024-2032)
10 Europe Luxury Goods Market by Product Type
10.1 Watches and Jewellery
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Perfumes and Cosmetics
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Clothing
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Bags/Purse
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Europe Luxury Goods Market by End Use
11.1 Women
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Men
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 Europe Luxury Goods Market by Distribution Channel
12.1 Offline
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Online
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
13 Europe Luxury Goods Market by Country
13.1 Germany
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Kingdom
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 France
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Italy
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators of Demand
14.4 Key Indicators of Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Chanel Limited
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Kering SA
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Rolex SA
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Hermès International S.A.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Giorgio Armani S.p.A.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Ralph Lauren Corporation
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Compagnie Financière Richemont SA
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Prada SpA
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 VALENTINO S.p.A.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Tiffany & Co.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Luxury Goods Market: Key Industry Highlights, 2018 and 2032
2. Europe Luxury Goods Market: Key Industry Highlights, 2018 and 2032
3. Europe Luxury Goods Historical Market: Breakup by Product Type (USD Billion), 2018-2023
4. Europe Luxury Goods Market Forecast: Breakup by Product Type (USD Billion), 2024-2032
5. Europe Luxury Goods Historical Market: Breakup by End Use (USD Billion), 2018-2023
6. Europe Luxury Goods Market Forecast: Breakup by End Use (USD Billion), 2024-2032
7. Europe Luxury Goods Historical Market: Breakup by Distribution Channel (USD Billion), 2018-2023
8. Europe Luxury Goods Market Forecast: Breakup by Distribution Channel (USD Billion), 2024-2032
9. Europe Luxury Goods Historical Market: Breakup by Country (USD Billion), 2018-2023
10. Europe Luxury Goods Market Forecast: Breakup by Country (USD Billion), 2024-2032
11. Europe Luxury Goods Market Structure
Key Questions Answered in the Report
The market was valued at USD 113.38 billion in 2023.
The market is projected to grow at a CAGR of 3.8% between 2024 and 2032.
The revenue generated from the luxury goods market is expected to reach USD 158.33 billion in 2032.
The luxury goods market is categorised according to product type, which includes watches and jewellery, perfumes and cosmetics, clothing, bags/purse and others.
The luxury goods market key players are Chanel Limited, Kering SA, Rolex SA, Hermès International S.A., Giorgio Armani S.p.A., Ralph Lauren Corporation, Compagnie Financière Richemont SA, Prada SpA, VALENTINO S.p.A., and Tiffany & Co. among others.
Based on the end use, the market is divided into offline and online modes of distribution.
The market is broken down into Germany, the United Kingdom, France, and Italy among others.
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