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Report Overview
The global luxury apparel market size reached approximately USD 102.62 billion in 2023. The market is assessed to grow at a CAGR of 5.7% between 2024 and 2032 to attain a value of around USD 168.68 billion by 2032.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Competitive Landscape
Chanel S.A. is a prominent developer, manufacturer, creator, and distributor of luxury goods. It was founded in 1910 in France by Gabrielle Chanel and offers a wide assortment of apparel, cosmetics, and accessories like eyewear, leather goods, makeup, ready-to-wear clothes, watches, and jewellery, among others. Its products are recognised for their luxury and intricate craftsmanship.
LVMH Moet Hennessy-Louis Vuitton SE, formed in 1987, has established its position as a pioneer in the world of luxury. It comprises 75 Maisons, through which it develops products with unique craftsmanship, contemporary creativity, and rich heritage. With its headquarters in Paris, France, the company operates in diverse sectors, including fashion and leather goods, selective distribution, wines and spirits, jewellery and watches, and cosmetics and perfumes.
PVH Corp., headquartered in New York, the United States, is one of the largest lifestyle companies. Owner of renowned brands such as Tommy Hilfiger and Calvin Klein, the company aims to become the most desirable global lifestyle group. Founded in 1881, the company has operations in over 40 countries across the world.
Other luxury apparels market players include Ralph Lauren Corporation, Christian Dior SE, Prada S.p.A., Dolce & Gabbana S.r.l., Giorgio Armani S.p.A., Kering SA, and Burberry Group plc, among others.
Luxury Apparel Market Report Snapshots
Luxury Apparel Market Analysis
*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.*
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Key Questions Answered in the Report
In 2023, the market attained a value of nearly USD 102.62 billion.
The market is assessed to grow at a CAGR of 5.7% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 168.68 billion by 2032.
The shift towards e-commerce platforms and the increasing willingness of the millennial and Gen-Z population to try new things are the major market drivers.
The key trends aiding the market growth are the rising trend of sustainability, the increasing spending on luxury apparel by women, and the surging attempts by key players to enhance their diversity and inclusivity.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The significant distribution channels in the market are offline and online.
The major players in the market are Chanel S.A., LVMH Moet Hennessy-Louis Vuitton SE, PVH Corp., Ralph Lauren Corporation, Christian Dior SE, Prada S.p.A., Dolce & Gabbana S.r.l., Giorgio Armani S.p.A., Kering SA, and Burberry Group plc, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124