GITNUX MARKETDATA REPORT 2024

Luxury Fashion Industry Statistics [Fresh Research]

Statistic 1

"The global luxury fashion market size was valued at $330.07 billion in 2020."

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Statistic 2

"Luxury clothing market is expected to grow at a CAGR of 13% from 2021 to 2025."

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Statistic 3

"China is expected to become the leading country for luxury fashion by 2025."

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Statistic 4

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

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Statistic 5

"The United States luxury fashion market share constituted 41.8% of the global market in 2020."

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Statistic 6

"In 2020, estimates suggest that the luxury fashion industry’s online sales could reach up to 30%."

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Statistic 7

"Online sales of luxury goods grew 50% in year 2020."

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Statistic 8

"The top 1% wealthiest households account for almost 30% of the total spending on personal luxury goods."

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Statistic 9

"Offline sales still dominate, accounting for 75% of sales in the Luxury fashion market."

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Statistic 10

"The Middle East luxury fashion market is predicted to reach $14.4 billion by 2022."

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Statistic 11

"France’s luxury sector generated sales of €27 billion ($31.8 billion) in 2019."

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Statistic 12

"Italian Fashion companies accounted for a 23% share of the global luxury goods market in 2016."

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Statistic 13

"63% of luxury consumers believe they are purchasing experiences, not just luxury goods."

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Statistic 14

"Louis Vuitton is the most valuable luxury brand with a value of $47 billion."

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Statistic 15

"The net profit of the fashion brand Gucci was approximately 3.21 billion euros in 2019."

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Statistic 16

"Demand for luxury sneakers and streetwear grew by about 40% in 2019."

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Statistic 17

"The global market for pre-owned luxury fashion items is expected to grow at a compound annual growth rate (CAGR) of up to 15% in the coming years."

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Statistic 18

"Women represent 85% of all luxury brand purchases."

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Statistic 19

"82% of luxury brands are planning to increase their budgets for influencer marketing."

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