What is the global market size of Luxury Apparel Market?

Global Luxury Apparel Market was valued at USD 72.30 billion in 2021 and it is expected to reach at USD 84.50 billion by 2028, with CAGR of 3.5% over the forecast period (2022-2028). Read More

Top Luxury Apparel Companies

Skyquest Technology's expert advisors have carried out comprehensive research and identified these companies as industry leaders in the Luxury Apparel Market. This Analysis is based on comprehensive primary and secondary research on the corporate strategies, financial and operational performance, product portfolio, market share and brand analysis of all the leading Luxury Apparel industry players.

Luxury Apparel Market Competitive Landscape

Top Players in the Global Luxury Apparel Market

LVMH Moët Hennessy Louis Vuitton SE
Kering SA
Ralph Lauren Corporation
Giorgio Armani SpA
Burberry Group plc
PVH Corp.
Hugo Boss AG
Prada SpA
Hermès International SA
Chanel SA
Richemont SA
Salvatore Ferragamo SpA
Versace SpA
Gucci Group NV
Bottega Veneta SA
Dolce & Gabbana Srl
Michael Kors Holdings Limited
Christian Dior SE
Tod's SpA
Moncler S.p.A.

Luxury Apparel Market Recent Developments

In February 2022, Hugo Boss AG, a German fashion conglomerate, struck a long-term relationship with environmental textile business HeiQ AeoniQ. Hugo Boss AG, through this collaboration, aspires to achieve climate neutrality within its own area of responsibility by 2030.
In January 2022, Adidas AG and Prada Group began a new chapter in their ongoing collaboration to achieve critical environmental goals. The Adidas for Prada Re-Nylon line, a more sustainable premium athletic range, is set to debut.

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Global Luxury Apparel Market size was valued at USD 103.08 Billion in 2024 and is poised to grow from USD 109.68 Billion in 2025 to USD 180.16 Billion by 2033, growing at a CAGR of 6.4% during the forecast period (2026–2033).

The global luxury apparel market is fragmented, with a prominent luxury apparel market player acquiring a sizable portion. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive luxury apparel market. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective and customized solutions 'LVMH Moët Hennessy Louis Vuitton', 'Kering Group', 'Chanel Limited', 'Hermès International', 'Prada Group', 'Burberry Group plc', 'Ralph Lauren Corporation', 'The Armani Group', 'Dolce & Gabbana', 'Mayhoola for Investments LLC (Valentino S.p.A.)', 'Capri Holdings', 'Brunello Cucinelli S.p.A.', 'The Estée Lauder Companies Inc.', 'Ermenegildo Zegna Group', 'Salvatore Ferragamo S.p.A.', 'The Row', 'Bluestar Alliance (Off-White)', 'OTB Group (Maison Margiela)', 'The Philipp Plein Group', 'L Catterton (Etro S.p.A.)'

Increased consumer-key actor interaction via social media platforms and online retail outlets is driving sales of the most fashionable luxury clothing. The rise in internet transactions in recent years has aided the growth of the luxury clothing industry. Because nearly half of luxury garment purchasing decisions are influenced by what customers see or hear from offline and online platforms, consumer-specific offers and appealing promotions and advertising through magazines and social media are impacting luxury clothing sales. Luxury clothing is primarily viewed as a status symbol for individuals, and it drives discretionary spending among consumers with significant purchasing power. The growing popularity of luxury clothing among millennials is driving industry growth.

Increase in E-commerce Increasing Luxury Apparel Market Capacity: Online platforms provide consumers with more options and are more convenient. Many significant participants in the luxury garment business are concentrating their efforts on marketing and selling products through their own websites as well as those of chosen retail outlets or pure luxury e-retailer partners in specific countries. Marketing methods such as celebrity brand endorsement are assisting important players in attracting more consumers from a variety of financial backgrounds. As offline retail stores have a lower growth potential than online retail stores, they are more likely to affect luxury apparel sales in online retail stores in the coming years.

Based on region, global luxury apparel market is segmented into North America, Asia Pacific, Europe, Latin America and Middle East Africa. In 2020, Europe was the largest regional luxury apparel market for luxury clothes, with important countries including Germany, the United Kingdom, and France. Europe, being one of the most appealing tourist destinations, attracts millions of visitors from all over the world. While on vacation in Europe, everyone from business tycoons to upper-class women buy pricey outfits. Product sales are also increasing as a result of the region's new retail concepts and company strategies. The Asia Pacific region has experienced rapid growth in recent years as a result of rising consumer awareness and brand consciousness among regional consumers. China, Hong Kong, and India have the highest levels of luxury garment penetration. Due to increased demand, a lot of businesses are investigating new areas in the region and building outlets. Some of the corporations have also investigated the potential of the luxury children's wear sector and are attempting to enter it.

Top Luxury Apparel Companies

Luxury Apparel Market Competitive Landscape

FAQs

What is the global market size of Luxury Apparel Market?

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