全球奢侈品市场前景及投资研究报告-培训课件外文版2024.5爱马仕

INDUSTRIES

&

MARKETSLuxury

Goods:

market

data

&analysisMarket

InsightsreportOctober2023Table

of

ContentsMarket

OutlookOverviewLuxuryEyewear839848PrestigeCosmetics&FragrancesMarketSizeAppendixMarketInsightsMarketDriversConsumerInsightsTrends1218233134ProductOverviewAuthor114115KeyPlayersMarketsLuxuryLeatherGoodsLuuryWatches&JewelryLuxuryFashion4054692MARKET

INSIGHTSThis

report

is

part

ofour

Market

Insights

productGainabetterunderstandingofmarketsacross190+

geographicalentities

–

onaglobal,

regional,country,

and/orstatelevel.

Accessourdatavia

webinterface,download(XLS,

PDF,PPT),or

reports.Benefitfromour48-hourcustomerservice

guarantee.•

10

sectors:

advertising&media,consumers,countries,digital

sector,finance,health,

industrialsector,mobility,andtechnology•

1,000+

markets,

e.g.,

FinTech,Food,or

Robotics•

KPIs,

e.g.,

revenue,marketshares,prices,andvolume•

Features:Compare

countries®ions,

change

currencies,

selectvisualizations,

and/or

customize

downloads•

Usecases:

sales

planning,

investment

decision

support,resourceallocation,andportfolio

management10sectors190+geographicalentities1,000+markets400+reportsFind

out

more

on:https://www.Goto

Market

Insightscom/outlook/3CHAPTER

01Market

Overview•

Market

definition•

Market

segmentation•

Key

takeawaysLuxury

Goods

is

an

important

of

the

Consumer

Goods

market.Overview:

Market

definitionMarket

definitionInscopeOutof

scopeTheconceptual

key

tounderstandingluxuryinmarketing

isexclusivity.

Thisexclusivity

ismaintained

mainlybyahighpricepoint

but

alsobyconsciouslylimitingsales

volumes

and

outlets.

IntheConsumer

Market

Outlook,Luxury

Goodsencompass

highly

exclusive

personal

items

thatconvey

thetasteandstatus

of

theirowners.

ThisincludesApparel,Footwear

andLeather

Accessories,

Eyewear,

aswellasWatches

and

Jewelry,

andCosmetics.

Dataon

luxurycarsis

notshown

here

butavailableinourmobility

markets.•Personal

luxury

goods(watches

andjewelry,

apparel

andfootwear,eyewear,

cosmetics

and

fragrances)•WineandSpirits,Food•Designer

furniture•Luxurysegments

and

brandsof

thecompanies

covered

(see

methodologyforlist)•Hospitality

and

travel•Luxurycars

(not

shown

here

butavailableinourMobility

Markets)Themarket

data

presented

here

isbased

onananalysisofthefinancialfilingsfortheyears

2018

to2028

of

more

than100

companies

thattarget

theluxurysegments

withinthespecified

categories.

Themost

important

players

areshown

aspartof

the

competitive

landscape.

Acomplete

listofallcompanies

covered

canbefoundinthemethodology

description.

Smaller

companies

(with

revenues

of

lessthan150

million

US-Dollars

peryear)

andartisanalproduction

unaffiliatedwith

thecovered

companies

arenot

includedinthedata.Salesof

licensed

brands(especially

importantintheEyewear

andCosmetics

segments)

areattributedtothelicensee,

so

forexample,

HugoBoss

fragrances

arecounted

as

Cotysalestoavoiddoublecounting.•Artisanalandsmall-scale

productionunaffiliatedwiththecoveredcompanies

(see

methodology

forlist)5Sources:Market

Insights

2023Luxury

Goods

market

consists

of

five

sub-segmentsOverview:

Market

segmentationLuxuryLeatherGoodsLuxuryEyewearLuxuryWatches

&Luxury

GoodsJewelryPrestige

Cosmetics&FragrancesLuxuryFashion6The

Luxury

Fashion

segment

accounts

for

the

biggest

share

in

the

LuxuryGoods

market

with

a

revenue

of

US$

97.23

billionOverview:

Key

takeawaysHighlightsRevenue

intheLuxuryGoods

market

amountsto

US$354.80bn

in2023.

Themarketisexpected

to

grow

annuallyby3.38%

(CAGR

2023-2028).Themarket's

largest

segment

isthesegment

LuxuryFashion

with

amarket

volumeof

US$111.50bn

in2023.Inglobalcomparison,

most

revenue

isgenerated

inthe

UnitedStates(US$75,690.00m

in2023).Inrelation

to

totalpopulation

figures,per

person

revenues

of

US$46.18

aregenerated

in2023.IntheLuxury

Goods

market,13.9%

of

totalrevenue

will

begenerated

throughonlinesales

by2023.7Notes:(1)

CAGR:

Compound

Annual

GrowthRateMarket

Insights

2023Sources:CHAPTER

02Market

Size•

Worldwide

revenue•

Worldwide

average

revenue

per

capita•

Worldwide

saleschannelWorldwide

Luxury

Goods

revenue

will

reach

US$418.93

billion

by

2028Market

size:

Worldwide

(1/3)Revenue

inbillionUS$418.93.9%(1)406.7394.9382.2369.0354.8312.6305.5294.2286.1259.1201820192020202120222023202420252026202720289Notes:(1)

CAGR:

Compound

Annual

GrowthRateMarket

Insights

2023Sources:Average

revenue

percapita

for

the

Luxury

Goods

market

is

estimated

toincrease

at

a

CAGR(1)

of

3%

from

2018

to

2028Market

Size:

Worldwide

(2/3)Averagerevenue

percapita

inUS$3.0%(1)52.751.250.148.947.646.241.341.139.139.034.72018201920202021202220232024202520262027202810

Notes:Sources:(1)

CAGR:

Compound

Annual

GrowthRateMarket

Insights

2023Offline

sales

continue

to

dominate

the

global

Luxury

Goods

marketMarket

Size:Worldwide

(3/3)Online/offlinerevenue

distribution13.910.389.7201810.889.2201915.315.514.315.517.117.618.296.184.884.585.784.682.982.481.820202021202220232024202520262027OfflineOnline11Sources:Market

Insights

2023CHAPTER

03Market

Insights•

Analystopinion•

Worldwide

market

comparison•

Regional

comparison•

Country-level

comparisonThe

Luxury

Leather

Goods

has

the

highest

growth

potential

with

a

CAGR(1)

of5.7%

from2022

to

2028Market

Insights:Worldwide

market

comparisonRevenue

inbillionUS$+5.2%(1)131.7+5.7%(1)+5.7%(1)+3.8%(1)97.292.486.784.868.066.262.3+3.5%(1)23.318.9LuxuryFashionLuxuryLeather

GoodsLuxuryWatches

&JewelryPrestige

Cosmetics

&FragrancesLuxuryEyewear2022202813

Notes:Sources:(1)

CAGR:

Compound

Annual

GrowthRateMarket

Insights

2023With

revenue

of

US$

124.2

billion,

Asia

is

the

biggest

market

among

selectedregions,

in

2022Market

Insights:Regional

comparison

(1/2)Revenue

inbillionUS$+15.2%(1)290.8+9.8%(1)155.3+2.9%(1)103.4124.2202288.786.9+5.1%(1)+2.0%(1)5.56.17.410.0202220282022202820222028202820222028EuropeAfricaAmericasAsiaAustralia&Oceania14

Notes:Sources:(1)

CAGR:

Compound

Annual

GrowthRateMarket

Insights

2023With

average

revenue

per

capita

of

US$

180.4,

Australia

&

Oceania

is

the

biggestmarket

among

selected

regions,

in

2022Market

Insights:Regional

comparison

(2/2)Averagerevenue

percapita

inUS$+4.1%(1)229.8+7.0%(1)156.8180.4+2.4%(1)104.499.686.5+4.4%(1)+0.1%(1)35.827.74.44.52022202820222028202220282022202820222028EuropeAfricaAmericasAsiaAustralia&Oceania15

Notes:Sources:(1)

CAGR:

Compound

Annual

GrowthRateMarket

Insights

2023With

a

revenue

of

US$

83.3

billion,

the

United

States

has

the

biggest

LuxuryGoods

marketin

2022Market

Insights:Country-level

comparison

(1/2)Revenue

inbillionUS$+3.1%(1)83.3+5.0%(1)69.565.448.9+6.9%(1)+6.6%(1)20.16+7.3%(1)21.818.514.613.7312.12022202820222028202220282022202820222028United

StatesChinaGermanyFranceUnited

Kingdom16

Notes:Sources:(1)

CAGR:

Compound

Annual

GrowthRateMarket

Insights

2023France

has

the

highest

average

revenue

per

capita,

amounting

to

US$

221.9

in2022Market

Insights:Country-level

comparison

(2/2)Averagerevenue

percapita

inUS$+6.7%(1)328.1+6.3%(1)289.0+2.6%(1)242.1+7.4%(1)222.1221.9207.6200.4144.8+4.8%(1)44.533.620222028202220282022

2028Germany2022202820222028United

StatesChinaFranceUnited

Kingdom17

Notes:Sources:(1)

CAGR:

Compound

Annual

GrowthRateMarket

Insights

2023CHAPTER

04Market

Drivers•

Summary•

HighNet

Worth

Individuals•

TourismThe

worldwide

luxury

market

is

driven

by

the

affluent

population

and

tourismflowsMarket

Drivers:

SummaryThegloballuxury

market

continuesto

bedriven

bythegrowth

ofthekeytargetdemographic

of

HighNet

Worth

Individuals

(HNWI)

aswell

asworldwide

tourismflows.Thetotalnumberof

HighNet

Worth

Individuals(HNWI)1

isforecast

togrow

toover67

million

people

by2028.

Asiawitnesses

ahigh

increase

innumbers,

but

NorthAmerica

andEuropewill

stillbehome

formore

than70%

ofthem.Almost

halfofluxury

goodsare

purchased

while

travelling

abroad

or

intravel

retailshopshighlighting

the

significance

ofinboundtourism

and

travel

retail

shopsfortheluxury

goodsindustry.Asiawill

surpassEuropeamong

tourismdestinations.Asiandestinationsshow

aslightlyhighergrowth

andareprojected

to

claimashareof

about51%

of

allarrivals

in2028.

Interms

of

totalairlinepassenger

traffic,Europe

overtook

North

America,

but

bothregions

are

thwarted

byAsiaon

accountof

absolutepassenger

numbers.19Sources:Market

Insights

2023By

2026,

the

number

of

High

Net

Worth

Individuals

will

increase

tomore

than62

million

peopleMarket

drivers:

HighNet

Worth

Individuals

(HNWI)Theglobalpopulation

ofHigh

Net

Worth

Individuals(HNWI)

currently

standsatroughly

52.1

million

persons

withalmost

half

of

them(20.9

million)

located

inNorth

HNWI

population

worldwide

inmillionsAmerica

alone.

HighNet

Worth

Individualsdenote

persons

with

investible

assetsofAmericasEuropeAsiaOthersmore

than

US$1

million

(including

residential

property).

Until2026

thetotalHNWIpopulationis

set

to

rise

tomore

than

62

million

people.62.72.060.21.957.51.854.81.7Statista’sestimate

of

the

global

HNWIpopulation

isbased

onresearch

of

SwissbankCreditSuisse

and

own

estimates.

Credit

Suisseestimates

thesize

of

thisdemographic

inabottom-up

approach

bysizinguptotalwealth

percountry

andestimating

itsdistributionamong

withacombination

ofresults

from

nationalhousehold

budgetsurveys

and

mathematical

distributionmodels.

Other,solelysurvey-based

methods

tendtounderestimate

thetop-end

ofhigh-incomehouseholds

since

thesehouseholds

are

hardto

reach

bytraditionalmarketresearch

methods.52.11.716.049.21.615.214.413.512.711.918.017.416.716.015.314.4Thegeographic

dislocation

of

HNWIcanexplain

thestilleminent

importance

ofindustrialized

countries

inWestern

Europe,

North

America

and

Japanforthegloballuxurygoods

industry.While

emerging

anddeveloping

nationshavegraduallycaughtupinterms

of

grossdomestic

product(GDP),wealth

is

stillmuchmoreunevenly

distributedglobally

sinceitrepresents

the

accumulatedcapitalof

manygenerations.

However,

thehighnetworth

population

isprojected

to

grow

fastinAsiahighlighting

thegrowth

potential

inemerging

markets.26.725.724.623.622.521.320212022202320242025202620Sources:Market

Insights

2023,DigitalMarket

Insights

2023Europe

keeps

attracting

the

most

tourists

worldwide

potentially

driving

luxurysales

in

tandemMarket

drivers:

tourism

(1/2)Inearly

modern

Europe

it

was

customary

foryoungmen

and

women

fromtheupperrungsof

society

to

visit

theculturally

significant

historical

citiesof

ItalyandFrance

aspartofa“grandtour”

meant

to

instilleducation

andtastefrom

theexamples

ofclassical

antiquity

andtherenaissance

artderived

fromit.Smart

home

penetrationAmericasEuropeAsiaOthers2,03380Thispastpatternis

stillvisibleintourist

flows

today.Europe

asawhole

accountedforaround

50%

ofglobal

arrivalsin2022

which

translatesto734

million

tourists.

Ofthisnumbermore

thanone-fifth

was

attributabletoFranceandItalyalone.

Notcoincidentally

dothese

countries

(together

with

Switzerland)

havethehighestdensity

ofluxury

goodsbrandsworldwide

whoare

attuned

tothetasteof

aglobalist

elite.

Luxuryretail

today

isreliant

on

visitingbusinessmen

or

touristsandretailers

athigh-end

destinationsliketheBond

Street

inLondon

or

theRueSaint-Honoré

inParis

haveadapted

tothisglobalclientele,

forexample

byemployingassociates

withproficiency

in

different

languages.1,872761,734721,610681,481658697521,29162657575496366892854817Europe

will

see

agrowth

inthearrival

of

touristsinthe

coming

years

as

well.

Butmirroring

thegradualshiftoftheglobal

economy

atlargetotheAsia-Pacific

regionisalso

anincreased

interest

inAsiaasatourist

destination.

By2026,

Asiawillcontinuetoattracttourists.

Thisinterest

isdriven

bytheemergence

ofanaffluentmiddleclass

intheregion

itselfas

well

asitsincreasing

attractivityfortouristsfromthe

Americas

and

Europe.78073468218218518818919119320212022202320242025202621Sources:Market

Insights

2023,DigitalMarket

Insights

2023Increased

airline

traffic

will

boost

travel

retailsalesMarket

drivers:

tourism

(2/2)Theworld’s

firstDutyFree

Shopopened

atShannon

Airport

inIreland

in1947.ShannonAirport

was

atthetime

away

stationfortranscontinental

flightsthatdue5Gphonespenetration(1)tothelimited

range

ofairplanesof

theera

could

notbecompleted

inone

leg.

Thus,Shannonteemed

with

theinternational

jet-set

and

inorder

to

stimulatelocalcommerce

the

ideawas

borntoincentivize

sales

bywaiving

salestaxes.NorthAmericaEuropeAsiaOthers4,990470Theconcept

hassince

been

widely

adopted

and

become

aglobalretailphenomenon

thatwas

worth

around

US$79

billion

worldwide

in2018.

Themostpopularcategories

were

constitutedbytypicalgiftproducts

likefragrances,

winesandspirits,fashion,tobaccoandwatches

and

jewelry.

While

theairtravelexperience

itself

hasbecome

increasingly

commodified

over

time,

travel

retailshopstrytokeep

some

of

the

pastglamour

alivebyoffering

highly

desirableconsumer

goods

atslightlymore

affordable

pricesthaneverywhere

else.4,6824414,3624,0213794113,6412,0241,3673441,9001,2711,7712,8412161,6341,0701,482Theoverall

size

and

specific

productrange

explaintheimportance

of

travel

retail

asasales

channelandshowroom

fortheluxurygoods

industry.Ourforecast

of

globalairpassenger

transport

shows

thatdueto

theexpected

recovery

regarding

theCOVID-19

pandemic,allshown

regions

will

grow

strong

with

acompound

averagegrowth

rate(CAGR)of

more

than5%

between

2021

and2026.

In2026,

Asiawill

stillaccount

forthebulkofthepassenger

figures

withmore

than

one

thirdofallpassengers

beingattributabletotheregion.

Thishighlightsonce

more

thegrowingweight

oftheAsianregion

alsofortheluxury

goodsindustry.1,1548981,1739561,12920261,00720241,070202593885957320212022202322

Notes:Sources:(1)

5G

phones

penetration

ratesare

estimated

basedon

the

volume

salesof

5G-enabled

phones

in

smartphonesMarket

Insights

2023,

DigitalMarket

Insights

2023CHAPTER

05Consumer

Insights•

Summary•

Regional

comparisonLuxury

consumers

demand

excellence

in

all

aspects

of

the

shopping

experienceConsumer

Insights:SummaryAsaresult

of

extensive

fieldwork

during2021,

this

chapterpresents

insights

intobrandperceptions

and

consumption

habits

of

luxuryconsumers

intheU.S,ChinaandvariousEuropean

countries.Whereas

American

and

European

luxuryconsumers

associate

luxurymainly

withqualityand

style,Chinese

consumers

notablyvalueexclusivity

and

extravagancehigherthantheirAmerican

andEuropean

counterparts.Luxuryconsumers

inall

countries

aredriven

towards

luxury

goodsout

ofdesiresforhighquality

products,toexperience

outstanding

service

and

havestate-of-the-artdevices.

Where

differences

occurisintheimportance

of

showing

wealth

andtheopinion

thatluxurycannotbemeasured

bymoney,

which

is

where

Chineseconsumers

denote

afarhigherimportance

than

theircounterparts.Onthetopicof

sustainability,

allcountries

appeartobeofsimilar

opinion,thatpremium/luxury

products

haveto

besustainable.Equallyasimilarpattern

amongst

allcountries

hasarisen

interms

ofthetouchpointsofawareness

of

luxuryproducts.

Inalmost

allcountries

social

mediaplatformssuchas

Instagram,Facebook

and

Youtubeare

themost

popularadvertising

platforms

fortheluxury

market.24Sources:GlobalConsumer

Survey

as

of2022Showing

offwealth

with

luxury

products

is

most

frequent

in

ChinaConsumer

insights:Attitudes(1/3)Attitudestowards

luxury

productsU.S.GermanyUnitedKingdomItalyFranceChina46%55%54%Importanceofhighqualityproducts44%51%52%22%21%18%Likestoshowwealth23%11%45%29%29%24%Importanceof26%25%brandbypurchase21%48%24%24%Devices

havetobestate-of-theart19%25%22%25

Notes:Sources:“Which

ofthese

further

statements

regardingluxury

items

do

youagree

with?“;

Multi

Pick;n=

1084

(U.S.);

n=1075

(DE);

n=1090

(UK);

n=1098

(IT);

n=1069

(FR)

;n=1051

(CHN)GlobalConsumer

Survey,asofMay2021European

countries

have

similar

attitudes

towards

luxury

productsConsumer

insights:Attitudes(2/3)Attitudestowards

luxury

productsU.S.GermanyUnitedKingdomItalyFranceChina27%28%Luxury

isaninspiringexperience26%25%24%41%34%36%35%Luxury

brandsshould32%offeroutstanding

service30%29%48%48%24%Expensiveluxury

itemsshouldbeunique26%25%21%23%22%20%Valueofluxury

itemscannot

bemeasuredbymoney23%17%36%26

Notes:Sources:“Which

ofthese

further

statements

regardingluxury

items

do

youagree

with?“;

Multi

Pick;n=

1084

(U.S.);

n=1075

(DE);

n=1090

(UK);

n=1098

(IT);

n=1069

(FR)

;n=1051

(CHN)GlobalConsumer

Survey,asofMay2021Shopping

advice

online

is

generally

not

popular

amongst

consumersConsumer

insights:Attitudes(3/3)Attitudestowards

luxury

productsU.S.GermanyUnitedKingdomItalyFrance37%China30%29%34%Preferenceoftryingluxuryproductbeforebuying35%35%19%19%23%Opentoshoppingadviceonline20%18%30%28%Afraidofreceivingcounterfeitluxuryproductswhen33%31%32%26%shoppingonline45%35%35%Shopping

experienceinluxurystoreshouldbebetterthannormalstore32%34%36%54%27

Notes:Sources:“Which

ofthese

further

statements

regardingluxury

items

do

youagree

with?“;

Multi

Pick;n=

1084

(U.S.);

n=1075

(DE);

n=1090

(UK);

n=1098

(IT);

n=1069

(FR)

;n=1051

(CHN)Global

Consumer

Survey,as

ofMay

2021Consumers

see

the

need

for

luxury

products

to

be

sustainableConsumer

insights:SustainabilityPremium/luxuryproductshavetobesustainableU.S.Germany55%UnitedKingdomItalyFranceChina48%48%47%43%42%40%39%36%34%34%30%11%10%11%9%8%7%7%7%6%6%5%4%4%3%2%2%1%Strongly

disagree0%Strongly

agreeSomewhat

agreeSomewhat

disagreeDon’tknow28

Notes:Sources:“Which

ofthese

further

statements

regardingluxury

items

do

youagree

with?“;

Multi

Pick;n=

1084

(U.S.);

n=1075

(DE);

n=1090

(UK);

n=1098

(IT);

n=1069

(FR)

;n=1051

(CHN)GlobalConsumer

Survey,asofMay2021Social

media

has

become

the

most

popular

advertising

Touchpoint

in

mostcountriesConsumer

insights:Touchpoints(1/2)Most

popularadvertisingchannelsfor

premium/luxurybrandsU.S.GermanyUnitedKingdomItalyFrance30%China37%27%Socialmedia

(e.g.,Instagram,

Facebook,YouTube)26%32%45%26%33%23%23%Onlinestores30%37%20%22%Magazines,journals,andnewspapers16%24%24%27%22%22%21%TV

andradio31%32%15%29

Notes:Sources:“Which

ofthese

further

statements

regardingluxury

items

do

youagree

with?“;

Multi

Pick;n=

1084

(U.S.);

n=1075

(DE);

n=1090

(UK);

n=1098

(IT);

n=1069

(FR)

;n=1051

(CHN)GlobalConsumer

Survey,asofMay2021Chinese

consumers

associate

luxury

brand

products

mostly

with

public

figuresin

the

mediaConsumer

insights:Touchpoints(2/2)Most

popularadvertisingchannelsfor

premium/luxurybrandsU.S.GermanyUnitedKingdomItalyFranceChina47%38%38%31%30%ModelsActors37%39%38%33%35%33%28%60%28%25%25%Singers/musiciansBloggers/YouTubers29%42%24%29%30%21%28%37%30

Notes:Sources:“Overthe

past12

months,

which

ofthe

following

people

have

younoticed

in

association

with

premium

and/orluxury

brandproducts?“;

Multi

Pick;

n=

1084

(U.S.);

n=1075

(DE);n=1090

(UK);

n=1098

(IT);

n=1069

(FR)

;n=1051(CHN)GlobalConsumerSurvey,

asofMay2021CHAPTER

06Trends•

K-Pop

inthe

market•

StayingexclusiveK-Pop

in

the

Luxury

Goods

marketTrends:

K-popThepopularityof

K-pop

starshasled

toanincrease

intheconsumption

of

variousproductsamong

Gen

ZandMillennial

consumers.

Ofthetop10

countries

with

the

highestconsumption

ofK-pop

albums,

theKorea

CustomsService

named

Japan,China,

Taiwan,Thailand,

andHong

Kong.Incidentally,thesecountries

alsohavesome

of

the

highest

luxuryconsumption

inAsia.Aremarkable

characteristic

of

K-pop

cultureisthelinkbetween

being

loyal

to

aK-pop

artistandahigh

willingness

to

payfortheproductspromoted

bytheartists.Inadditionto

thefandom,the

rapidgrowth

of

K-pop

indicatesitspotentialof

being

agood

marketing

strategyinthe

luxury

scene.

Thus,leadingluxury

brands,e.g.,Dior,

LouisVuitton,Burberry,

andGucci,haveannounced

thatK-pop

starswill

become

theirnext

globalambassadors.

According

toHYBE,

BTS’sK-pop

agency,merchandising

andlicensing

revenue

numberswere

higherthanconcerts

in2022.

Inother

words,

theK-pop

fandomoften

consumes

products

related

to

theartistseven

when

they

arenotmusic-related

products.

Inthe

lastfiveyears,

K-pop-relatedrevenues

havegrown

18-fold.TheNorth

American

LuxuryGoods

market

alsooffers

growth

opportunities

forluxurybrandsassociating

with

K-pop.

Americans

show

avery

high

interest

inluxury

products,with

theLuxuryGoods

market

growing

27-fold

over

the

last

fiveyears.

Infact,Americans

flocked

toEurope

to

shop

forluxurygoods

asaresult

of

thehigh

dollarprice

in2022.32Sources:

HYBE,KoreaCustoms

Service,LVMH,Burberry,

KeringStaying

exclusiveTrends:

exclusivityTheLuxuryGoods

market

hadasuccessful

rebound

in2022,

with

manyluxurybrandsgenerating

highersalesthanbefore

theCOVID-19

pandemic.

ThemainDespite

repeatedly

raising

pricesin2022,

luxurybrandscontinue

to

perform

well,heedless

of

thepotential

revenue

lossthatcanresult

fromthese

strategies.

Thissource

ofsuccess

is

theentry

of

younger

consumers

into

themarket.

Nevertheless,

implies

thatanincrease

inpricing

does

notnecessarily

affect

brand

loyalty.

Alongtheincrease

hasalsoraised

concerns

aboutstayingtrendy

while

remainingexclusive.

Therefore,

brandsareprojected

toput

more

effort

intoexclusivity

overthecoming

years.with

the

increased

pricebracket,

providing

dedicated

services

forVIP

customerswould

beagood

marketing

fortheexclusivity

strategy.

ItmeansthattheLuxuryGoods

market

canbeexpected

tocontinueto

boom

inthefollowing

years.Formany

luxurybrands,hikingprices

wasthemainstrategy

forstayingexclusive.Forexample,

Louis

Vuitton

increased

itsprices

twice

in2022

and

Chanel

threetimes

between

2021

and

2022.

Theideabehindabrand’shigh

price

istokeep

adistancewith

people,

creating

asmaller

market

of

consumers

who

canaffordtheproducts.

Anotherstrategy

thatis

used

is“playing

hardtoget,”

withthetopluxurybrandsmaking

productsthatare

notavailableforeveryone.

Examplesof

thisincludeChanel’splantolaunch

anexclusive

store

forVIP

customers

in

Asiaandtheway

inwhich

Hermès

reportedly

makes

ithardertogetpopularproducts

with

nopurchasehistory.33Sources:Market

Insights

2022CHAPTER

07Key

Players•

KeyPlayers•

LVMH•

Kering•

ChanelWith

US$89.4bn

global

revenue,

LVMH

is

the

biggest

luxury

company

worldwideKey

players:

representative

companies

andtheirbrands