Global luxury goods market revenue 2023, by segment

Data provided by Statista Market Insights are estimates.

Definition:

The conceptual key to understanding luxury in marketing is exclusivity. This exclusivity is maintained mainly by a high price point but also by consciously limiting sales volumes and outlets. In the Consumer Market Insights, Luxury Goods encompass highly exclusive personal items that convey the taste and status of their owners. The market data presented here is based on an analysis of the financial filings of a set of market leading companies that target the luxury segments within the specified categories.

Structure:

The Luxury Goods market is divided in 5 markets.

• Luxury Leather Goods covering handbags, suitcases and briefcases as well as small leather goods such as wallets.
• Luxury Watches & Jewelry referred to as “hard luxury” to differentiate them from fashion and accessories, which are made from comparatively “soft” materials the overall definition of this segment follows broadly the Consumer Market Insights Watches and Jewellery Segment in the Accessories market, while here only sales of luxury brands are considered.
• Luxury Fashion includes Luxury Apparel and Footwear including designer clothing and clothing accessories, that are made “ready-to-wear”, leather footwear, athletic footwear and sneakers as well as textile footwear, sandals and other shoes. The overall definition of this segment follows the Consumer Market Insights Apparel and Footwear markets, while here only sales of luxury brands are considered.
• Luxury Eyewear is comprised of eyewear frames and sunglasses. The overall market definition follows the Consumer Market Insights Eyewear market, while here only the super-premium to luxury price range is considered, and lenses and contact lenses are excluded.
• Prestige Cosmetics & Fragrances are comprised of Prestige Skin Care, Prestige Fragrances and Prestige Cosmetics (including the sub segments Eyes, Face and Lips all covering decorative cosmetics). The overall market definition is aligned with the Consumer Market Insights Beauty and Personal Care Cosmetics and Skin care markets, while here only the super- and ultra-premium range is considered, and hair care, oral care and personal hygiene products are excluded.

Additional Information:

The market comprises revenue and average revenue per capita, company shares and sales channels. Per capita figures refer to a countries or region’s whole population.

The most important players are shown as part of the competitive landscape and only companies with a revenue from more then 150 million US-Dollars per year are considered. Smaller companies and artisanal production unaffiliated with the covered companies are not included in the data. All market and company share data always refer to the retail value (including sales taxes). Sales of licensed brands (especially important in the Eyewear and Cosmetics segments) are attributed to the licensee, so for example, Hugo Boss fragrances are counted as Coty sales to avoid double counting.

Key players in this market include LVMH Moët Hennessy-Louis Vuitton SE, Kering SA, Compagnie Financière Richemont SA, The Estée Lauder Companies Inc. and Chanel Limited.