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Luxury goods in Europe - statistics & facts

In addition to the United States, Europe is home to some of the most mature markets for luxury goods across the world. Despite increasing competition from the Asia Pacific, Middle East and African regions, the size of this industry has continued grow in recent years. In Central and Western Europe, revenue generated in the luxury goods market has been steadily increasing in the time period of consideration. In 2020, this market generated about 53 billion U.S. dollars. By 2025, this value is projected to increase to some 72 billion U.S. dollars. Across Europe, UK, Italy, France, and Germany are among the leading personal luxury markets worldwide.

Leading European brands

Based on worldwide sales, the top three luxury goods companies in Europe are LVMH Moët Hennessy Louis Vuitton SE (France), Compagnie Financière Richemont SA (Switzerland) and Kering SA (France). LVHM is responsible for many of the most well-known luxury brands across a range of product categories, including Luis Vuitton, Christian Dior, Givenchy, Marc Jacobs and Moët & Chandon. As such, the company’s sales clearly exceed Richemont and Kering, reaching 44 billion euros in 2020, around 7.3 billion euros of which was made in Europe. In comparison, sales of the Richemont Group amounted to around 13.1 billion in the 2021 financial year, with just about a quarter of this generated in Europe.

European luxury consumers

Studies on luxury purchasing behavior in Europe have shown that a large proportion of consumers still prefer to purchase their luxury items in-store, rather than online. According to French consumers, some 39 percent of respondents answered the question "In which of these product categories do you also buy premium or luxury items?" with "Clothing & shoes ". According to the results of a consumer survey, in the wake of the coronavirus (COVID-19) pandemic across Europe, very few respondents said they would prioritize luxury purchases as a result of the pandemic.

Interesting statistics

In the following 4 chapters, you will quickly find the 29 most important statistics relating to "Luxury goods in Europe".

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