Global Luxury Goods Industry - Statistics & Facts

Global Luxury Goods Industry - Statistics & Facts

Statistics and facts on the global luxury goods industry

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. The value of the global personal luxury goods market was 212 billion euros and is estimated to be worth about 217 billion euros in 2013. Although the technical term luxury good is independent of the goods' quality, they are generally considered to be goods at the highest end of the market in terms of quailty and price. The United States has been the largest regional market for luxury goods and is estimated to continue to be the leading personal luxury goods market in 2013, with a value of 62.5 billion euros.

Luxury or prestige brands are brands for which a majority of its products are luxury goods. LVMH (Louis Vuitton Moet Hennessy) is the most valuable luxury brand in the world, with a brand value of about 22.72 billion U.S. dollars. The LVMH Group's total revenue for the 2013 fiscal year was about 29.15 billion euros.

The personal luxury goods industry is expected to continue to grow, especially in Hong Kong; the market is expected to increase by 10 percent in 2013 to total about 7.7 billion euros.

Photo: / ROSIKA

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