Luxury goods in Europe - statistics & facts

After 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 2022, this market was estimated to have generated about 65 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), 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 64 billion euros in 2022, around 9.8 billion euros of which was made in Europe. In comparison, sales of the Richemont Group amounted to around 19.1 billion in the 2022 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. Data also shows clothes and shoes were the most popular luxury and premium goods products European consumers such as those in France and Italy purchase the most.
This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.
Published by Tugba Sabanoglu, Nov 9, 2022

Key insights

Number of M&A deals in the fashion and luxury sector in Europe
154
Revenue of the luxury goods market in Central & Western Europe
64.8bnUSD
Revenue of the second-hand luxury goods market in Europe
4.8bn USD
Get more insights

Editor’s Picks Current statistics on this topic

Share of the personal luxury goods market worldwide in 2022, by region

Luxury Goods

Share of the luxury goods market worldwide 2022, by region

Leading 20 European luxury goods companies based on sales worldwide in 2021 (in million U.S. dollars)

Luxury Goods

Leading 20 European luxury goods companies based on sales 2021

Revenue growth of the luxury goods market in Central & Western Europe from 2015 to 2027

Apparel & Shoes

Revenue growth of luxury goods in Central & Western Europe 2015-2027

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