The increased connection between consumers and key players through social media platforms and online outlets is driving sales of the hottest luxury apparel. In recent years, the increase in Internet transactions has contributed to the growth of the luxury clothing industry. Consumer-specific offers and attractive promotions and advertisements in magazines and social media impact luxury apparel sales, as nearly half of luxury apparel buying decisions are influenced by what customers see or hear on offline and online platforms.
The Global luxury clothing market is divided into five regions: North America, Europe, Asia-Pacific, South America, Middle East and Africa.
North America is expected to account for a major share of the market owing to high consumer spending on outdoor recreation products such as sportswear, footwear, equipment, vehicle purchases, and others. in the United States and Canada. According to the Outdoor Industry Association, consumer spending on outdoor recreation products in the United States is expected to reach approximately $887 trillion in 2019. The Asia-Pacific region is expected to grow at a faster rate due to the increase in retail infrastructure associated with fashion clothing stores and shopping malls in countries such as India and China, which should support the region’s consumption of luxury clothing. For example, in February 2018, IKEA announced a $612 million investment plan in Maharashtra, India, to establish multi-format stores and experience centers. Also, supportive government policies governing FDI for textile and garment industries in countries like India and Vietnam are driving the expansion of the market. According to Invest India, the National Investment Promotion and Facilitation Agency, the Indian government launched a 100% FDL policy in July 2020 and provided USD 1 trillion to the textile and garment industry in the framework of its ATUFS plan.
Read Market Research Report, “Global Luxury Apparel Market by Product Type (Top, Bottom, One-Piece, Others), Material (Cotton, Leather, Silk, Denim, Wool, Others), Gender (Male, woman), distribution channel (Specialty stores, online stores, hypermarkets and supermarkets, others) and region – forecast and analysis 2022-2028” by SkyQuest.
The report published by SkyQuest Technology Consulting provides in-depth qualitative information, historical data and verifiable projections on the size of the market. The projections presented in the report have been derived using proven research methodologies and assumptions.
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Report scope and segmentation
|Rate of growth||CAGR of 3.5% from 2021 to 2028|
|The base year for the estimate||2021|
|Historical data||2016 – 2021|
|Forecast period||2022 to 2028|
|Report cover||Revenue Forecast, Volume Forecast, Business Ranking, Competitive Landscape, Growth Factors & Trends, Price Analysis|
|Segments Covered||Global Luxury Clothing Market by Product (Revenue, USD Billion, 2021-2028)
o Top door
o Bottom door
o One piece
Global Luxury Clothing Market by Gender (Revenue, USD Billion, 2021-2028)
Global Luxury Apparel Market by Distribution Channel (Revenue, USD Billion, 2021-2028)
o specialty stores
o online shops
o hypermarkets & supermarkets
Global Luxury Apparel Market by Material (Revenue, USD Billion, 2021-2028)
Global Luxury Apparel Market by Region (Revenue, USD Billion, 2021-2028)
o North America
The rest of Europe
Rest of Asia-Pacific
o Latin America
o Middle East and Africa
Rest of the Middle East and Africa
|Regional scope||North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East and Africa (MEA)|
|Country scope||United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, India, Japan, Brazil, GCC countries, South Africa|
|Profiled Key Companies||• Ralph Lauren
• Capri Holdings Limited
• PVH Corp.
• SPA Giorgio Armani
• Chanel S.A.
• Dolce & Gabbana
• Burberry Ltd.
• The Estee Lauder Companies Inc.
• Compagnie Financière Richemont SA
• L’Oreal Luxury
• EssilorLuxottica SA
• Chow Tai Fook Jewelry Group Limited
• The Swatch Group SA.
• Shiseido, Ltd.
• Oral International
• Luxottica SpA Group
• Sample group
• Prada SpA
|Scope of customization||Free report customization (15% free customization) with purchase. Added or changed country, region and segment scope.|
|Pricing and purchase options||Enjoy the benefits of customized purchasing options to meet your specific research needs.|
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What does this report bring?
- Market estimate for more than 20 countries
- Global Luxury Clothing Market Demand by Region, Sub-Region and Country
- Customization of segments, regions and business profiles
- 100+ tables, 150+ figures
- Global, regional and national luxury apparel market trends
- Comprehensive Parameter Mapping of the Global Luxury Apparel Market
- Attractive investment proposition in the global luxury apparel market industry
- Competitive strategies adopted by key players in the global luxury apparel market
- Drivers, Restraints, Opportunities, Challenges and Impact on Global Luxury Apparel Market Sizing
- Market growth rate to 2028
- Regulatory scenario, regional dynamics and global luxury apparel market overview of key countries in each region
- Detailed market information by region and country
- Analysis of market segmentation trends, opportunities and growth
- Porter’s five forces analysis to know the state of the market
- Global Luxury Clothing Market Price and Sales Analysis
- Parent Market Analysis
- Benchmark of the product portfolio
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