Sales share of the luxury goods market worldwide 2007-2013, by gender
This statistic shows the sales share of the luxury goods market worldwide from 2007 to 2012 and provides an estimate for 2013, by gender. In 2011, 60 percent of global luxury goods sales were made by women.
Luxury Goods Market
The global luxury goods industry, which includes drinks, fashion, cosmetics, fragrances, watches, jewelry, luggage and handbags, has been on an upward climb for many years. Luxury goods manufacturers meet consumer demand by focusing on brand, aesthetics, quality materials, superior craftsmanship and pricing to transform everyday objects into status symbols. The industry rises and falls with the gross domestic product (GDP), seeing demand climb in times of economic stability and plummeting in unfavorable economic climates. The United States has long been the largest regional market for luxury goods and is estimated to continue to be the leading personal luxury goods market in 2014, with a value of 64.9 billion euros.
LVMH (Louis Vuitton Moet Hennessy) is the most valuable luxury brand in the world, with a brand value of about 27.45 billion U.S. dollars in 2015. The LVMH Group's total revenue for the 2014 fiscal year was about 30.64 billion euros. The company employed over 121 thousand people; 24 percent of which were located throughout the United States.
New markets and segments are giving the industry growth points. One challenge for luxury companies is to maintain brand equity and cultivate their customer relationships. As luxury expands into more industries, expect a more mature segmented market. As a result, consumers should also become more rational.
Luxury Goods Market
The global luxury goods industry, which includes drinks, fashion, cosmetics, fragrances, watches, jewelry, luggage and handbags, has been on an upward climb for many years. Luxury goods manufacturers meet consumer demand by focusing on brand, aesthetics, quality materials, superior craftsmanship and pricing to transform everyday objects into status symbols. The industry rises and falls with the gross domestic product (GDP), seeing demand climb in times of economic stability and plummeting in unfavorable economic climates. The United States has long been the largest regional market for luxury goods and is estimated to continue to be the leading personal luxury goods market in 2014, with a value of 64.9 billion euros.
LVMH (Louis Vuitton Moet Hennessy) is the most valuable luxury brand in the world, with a brand value of about 27.45 billion U.S. dollars in 2015. The LVMH Group's total revenue for the 2014 fiscal year was about 30.64 billion euros. The company employed over 121 thousand people; 24 percent of which were located throughout the United States.
New markets and segments are giving the industry growth points. One challenge for luxury companies is to maintain brand equity and cultivate their customer relationships. As luxury expands into more industries, expect a more mature segmented market. As a result, consumers should also become more rational.
