Luxury Goods

Personal luxury retail value sales increased by 18% in 2023 to amount to PLN6.6 billion, supporting growth recorded by leading brand providers, such as L’Oréal Polska Sp zoo, Kering SA and Chanel SA. Sales fell by 19% in 2020 due to the pandemic, but…

The collapse of Credit Suisse in March 2023 and its later purchase by rival UBS underpins the state of the Swiss market and revised perceptions of what used to be considered a stable financial centre. The instability within the Swiss financial sector…

Retail value sales of luxury goods in Taiwan grew by 9% in 2023 in current terms to amount to TWD502.9 billion. Development was still widely defined by a return to more normal consumer behaviour in terms of working, shopping, and spending on luxury…

In 2023, luxury goods in Thailand continued to see an impressive recovery from the declines it recorded during the pandemic. This resurgence can be attributed to both the increase in spending among local consumers as well as the return of…

Retail current value sales of luxury goods in the Netherlands rose by 8% in 2023 in current terms to amount to EUR9.8 billion. There was a clear focus on recovery as Coronavirus (COVID-19) restrictions lifted, with luxury shoppers keen to indulge in…

Retail value sales of luxury goods in the Philippines rose by 16% in 2023 in current terms to stand at PHP340.4 billion. The revival of shopping in person and the resurgence of travel and tourism presented favourable opportunities for consumers to…

Retail value sales of luxury goods in the United Arab Emirates rose by 9% in 2023 in current terms to reach AED47.1 billion. Growth in sales was fuelled by several factors during the post-Coronavirus (COVID-19) lockdown period. One significant driver…

Retail value sales of luxury goods in the UK grew by 7% in 2023 in current terms, to stand at GBP48.9 billion. Development was predominantly characterised by a focus on recovery and a return to customary consumer behaviour, encompassing working,…

Retail value sales of luxury goods in the US grew by 6% in 2023 in current terms, to stand at USD264.8 billion. Growth within luxury goods was positive despite headwinds caused by the cost-of-living crisis, inflation, and the war in Ukraine. The…

Retail value sales of luxury goods in Turkey went up by 36% in 2023 in current terms, to stand at TRY223.9 billion. Growth in sales was fuelled by several factors during the post-lockdown period. One significant driver was a desire amongst affluent…

Personal luxury retail value sales rose by 93% in current terms in 2023 to reach ARS114.7 billion, with the strongest growth recorded by the leading brand owners such as France Argentine Cosmetics SA and Puig Argentina SA. This very positive sales…

Personal luxury retail value sales rose by 9% in 2023 to reach AUD8.6 billion, supporting growth recorded by leading brand providers, such as Louis Vuitton Australia Pty Ltd and L’Oréal Australia Pty Ltd. 2023 value sales growth was boosted by…

Personal luxury retail sales grew by 8% in current value terms to reach BRL17.8 billion in 2023, supported by growth being recorded by leading players like Puig Brasil Comercializadora de Perfumes S/A, LVMH Fashion Group Brasil Ltda and Procosa…

Personal luxury is set to see current value growth of 6% in 2023 to total CAD11.4 billion. Growth is being supported by strong performances from leading brand providers, such as Michael Kors Canada Holdings Ltd, Canada Goose Holdings Inc and L’Oréal…

Personal luxury retail value sales grew by 15% in 2023 to amount to CNY413.1 billion, thanks to growth recorded by leading brand providers such as LVMH Fashion (Shanghai) Trading Co Ltd, Richemont SA, Cie Financière, and LVMH Moët Hennessy Louis…

Personal luxury sales increased by 8% in current value terms to reach EUR20.9 billion in 2023, supported by the strong growth being recorded by leading players such as LVMH Moët Hennessy Louis Vuitton SA, Louis Vuitton Malletier SA and Chanel SA.…

Personal luxury retail sales increased by 9% in current value terms to EUR13.9 billion in 2023, supported by growth recorded by leading players such as Louis Vuitton Deutschland GmbH. Growth in 2023 was also being fuelled by investment in luxury…

Personal luxury retail value sales rose by 12% in 2023 to reach HKD90.5 billion, supported by growth recorded by leading brand providers, such as Richemont Asia Pacific Ltd and Rolex (Hong Kong) Ltd. The resumption of international travel greatly…

Personal luxury retail sales increased by 11% in current value terms to reach INR256.2 billion in 2023, supported by growth recorded by leading players such as LVMH Watch & Jewellery India Pvt Ltd, Louis Vuitton India Retail Pvt Ltd and Hermès India…

Personal luxury retail value sales increased by 12% in 2023 to reach IDR18.7 trillion, supporting growth recorded by leading brand providers, such as Kering SA, Luvitasindo PT and Chanel SA. The category’s value sales growth in 2023 was boosted by…