GITNUX MARKETDATA REPORT 2024

Diversity In The Luxury Industry Statistics

Statistics show that there is a lack of diversity in the luxury industry, with underrepresentation of minority groups in leadership roles and limited access for diverse consumers.

Last Updated: June 22, 2024

Written & Summarized by: Jannik Lindner

How we write

In this post, we explore the various statistics that shed light on the state of diversity in the luxury industry. From environmental impact to leadership representation and consumer trends, these numbers provide valuable insights into the current landscape of the luxury market.

Statistic 1

"The fashion industry is the second largest industrial polluter, responsible for 10% of global carbon emissions."

Statistic 2

"The fashion industry is considered the second biggest consumer of water, contributing to 20% of global waste water."

Statistic 3

"As of 2020, 85% of all textiles go to the landfill each year."

Statistic 4

"The luxury goods industry's revenue reached $281.2 billion in 2020."

Statistic 5

"In 2018, 47% of top global luxury fashion brands were led by male CEOs and only 10% were led by female CEOs, highlighting the gender diversity issue."

Statistic 6

"As of 2020, only four (2%) of the Forbes' Top 200 global brands have Black CEOs."

Statistic 7

"By 2025, Generation Z and millennials will jointly account for 55% of the luxury market."

Statistic 8

"In 2018, luxury consumers were on average 46 years old, and three years younger in China."

Statistic 9

"The market size of the global luxury watch industry reached $6.93 billion in 2020."

Statistic 10

"By 2025, third-party retail is expected to make up just 55 percent of luxury sales, down from 75 percent in 2000."

Statistic 11

"Global sales of personal luxury goods were down 23% in 2020, reaching $217 billion."

Statistic 12

"In 2019, 15% of luxury sales were made online, this figure is expected to reach 30% by 2025."

Statistic 13

"Bain estimated that by 2025, nearly half of all luxury purchases will be digitally influenced."

Statistic 14

"In 2018, only 19% of the advertising campaigns in the fashion industry featured models of color."

Statistic 15

"Nine out of ten fashion companies are failing to drive meaningful change on sustainability, including diversity."

Statistic 16

"In 2019, luxury consumers in China were on average seven years younger than in the rest of the world."

Statistic 17

"In 2020, the luxury industry experienced 22% growth in digital sales, taking 23% of the total spend."

Statistic 18

"Less than 15% of fashion designers at major brands are people of color."

Statistic 19

"In 2020, 40.3% of worldwide fashion consumers thought that luxury and designer brands need to improve on diversity."

The statistics provided unveil a concerning reality within the luxury industry encompassing significant environmental impacts, lack of diversity in leadership roles, demographic shifts in consumer behavior, and the slow progress towards sustainability and inclusivity. The industry’s staggering carbon emissions and waste water contribution call for urgent environmental action, while the underrepresentation of women, Black individuals, and people of color in leadership positions underscores the pressing need for diversity and equity. As Generation Z and millennials become the dominant luxury consumers, brands must adapt to evolving preferences and values, including a greater emphasis on digital strategies and sustainability practices. Moving forward, addressing these disparities and embracing change will be fundamental for the luxury industry’s long-term success and relevance in a shifting global landscape.

Jannik Lindner

Jannik is the Co-Founder of Gitnux and has been working in the digital space since 2016. He is specialized in content and tech.

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