The European luxury market was estimated to have grown between 5 and 7 percent in the second half of 2023. In 2024, the luxury market is projected to see a growth rate of between 4 and 6 percent in China.
Estimated luxury fashion year-on-year sales growth worldwide from 1st half 2020 to 2024, by region
2023 and 2024 figures were estimates. Estimates were based on McKinsey scenarios, McKinsey analysis and expert interviews. Growth figures reflected inflation, calculated on actual figures expressed in own currencies.
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McKinsey & Company. (November 29, 2023). Estimated luxury fashion year-on-year sales growth worldwide from 1st half 2020 to 2024, by region [Graph]. In Statista. Retrieved December 04, 2024, from https://www.statista.com/statistics/1314120/luxury-fashion-sales-growth/
McKinsey & Company. "Estimated luxury fashion year-on-year sales growth worldwide from 1st half 2020 to 2024, by region." Chart. November 29, 2023. Statista. Accessed December 04, 2024. https://www.statista.com/statistics/1314120/luxury-fashion-sales-growth/
McKinsey & Company. (2023). Estimated luxury fashion year-on-year sales growth worldwide from 1st half 2020 to 2024, by region. Statista. Statista Inc.. Accessed: December 04, 2024. https://www.statista.com/statistics/1314120/luxury-fashion-sales-growth/
McKinsey & Company. "Estimated Luxury Fashion Year-on-year Sales Growth Worldwide from 1st Half 2020 to 2024, by Region." Statista, Statista Inc., 29 Nov 2023, https://www.statista.com/statistics/1314120/luxury-fashion-sales-growth/
McKinsey & Company, Estimated luxury fashion year-on-year sales growth worldwide from 1st half 2020 to 2024, by region Statista, https://www.statista.com/statistics/1314120/luxury-fashion-sales-growth/ (last visited December 04, 2024)
Estimated luxury fashion year-on-year sales growth worldwide from 1st half 2020 to 2024, by region [Graph], McKinsey & Company, November 29, 2023. [Online]. Available: https://www.statista.com/statistics/1314120/luxury-fashion-sales-growth/