Luxury Fashion - Latvia

Latvia

In Latvia, the revenue generated in the Luxury Fashion market in 2024 amounts to US$30.91m.
It is projected that the market will experience an annual growth rate of 4.63% between 2024 and 2028 (CAGR 2024-2028).
When compared globally, in the United States leads in terms of revenue generation in the Luxury Fashion market, with US$27,670m in 2024.
In relation to the total population of Latvia, per person revenues of US$17.07 are generated in 2024.
This indicates the significance of the Luxury Fashion market in the country.
Despite its small market size, Latvia has a growing appetite for luxury fashion, with local consumers increasingly seeking high-end brands and exclusive shopping experiences.

Key regions: United States, Italy, Russia, France, India

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Methodology

The Luxury Fashion market is built on resources from the Statista platform as well as on in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. We evaluate the status quo of the market, monitor trends, and create an independent forecast regarding market developments of the global Luxury Fashion industry.