What is the luxury market by 2030?

The Personal Luxury Goods Market was valued at USD 410 billion in 2024, and is projected to reach USD 526 billion by 2030, rising at a CAGR of 4.24%.

How big is the luxury goods market in 2030?

The global personal luxury goods market, valued at USD 410 billion in 2024, is projected to reach USD 526 billion by 2030, growing at a CAGR of 4.24%.

Will 50% of luxury brands disappear by 2030?

According to recent research findings, one in two luxury customers is likely to switch his or her preferred brand over the next two years. In line with this, Équité Research estimates that up to 50 percent of the existing luxury brands today won't survive by 2030.

What is the future of the luxury market?

Key insights. The global luxury market is expected to grow 2 to 4 percent per year between 2025 and 2027. Leather goods and jewellery are projected to be the fastest-growing categories at 4 to 6 percent per year. Top-spending clients will create 65 to 80 percent of global market growth through to 2027.

What is the luxury market outlook for 2025?

Globally, however, the luxury goods market remains robust, with sales expected to reach $345 billion by 2025," commented Arthur Jurus, Head of Investment Office, Private Wealth Management at ODDO Suisse, in an interview with Luxury Tribune.

Luxury Futures : Guestlist 2030

Is the luxury market falling?

Last year, luxury sales were down 1% globally, and this year, they have declined further. Bain analysts foresee a moderate decline of 2-5% for the industry by year's end, but they believe its prospects will be brighter in the future.

What does luxury look like in 2025?

In 2025, the luxury industry is zooming ahead with advancements such as hyper-personalization, where artificial intelligence tailors products and services to individual tastes. Sustainability also rules the scene, with upcycled materials and ethical practices becoming a new standard.

Which luxury brand is growing?

Even Swiss watch exports to India have surged 20% in 2024, a clear sign of increasing demand for high-end timepieces. Luxury giants like Valentino, Louis Vuitton, Chanel, and Balenciaga have expanded their footprints in India, with more global names expected to follow.

Is the luxury sector heading for hard times?

Luxury is no stranger to downturns during economic uncertainty. However, this time, the international luxury sector is facing its greatest setback in at least 15 years, amid rising economic turbulence and complex social and cultural shifts, according to global consultancy Bain & Company's Luxury Goods Worldwide Study.

Do luxury brands do well in recession?

You can look at previous recessions to see how luxury markets fared. In each instance, luxury markets are well-insulated from economic downturns because much of their sales come from consumers not affected by recessions.

What luxury brand has been around the longest?

French fashion house Hermes is the oldest luxury brand in the world still in operation today. It was founded in 1837 by Thierry Hermes. The designer originally produced saddles and other riding gear. The first unofficial Hermes bag designed in addition to riding equipment was designed to carry saddles.

Why do luxury brands fail?

Brands increased prices, though some failed to sufficiently adapt their creative strategies and supply chains to meet new scale requirements, thereby weakening their core value proposition and ultimately failing to keep their promise to clients.

How big is the luxury market in the UK?

The British luxury sector is now worth 81 billion pounds annually to the UK economy, supporting more than 450,000 jobs across various sectors, making it one of the top industry drivers of the economy, according to a new report from Walpole.

What will the retail industry look like in 2030?

Retail in 2030: Beyond Products, Toward Experiences

Technology is reshaping the customer journey, but it's also changing what people expect from a store. By 2030, brick-and-mortar shops won't just be about selling products—they'll be hubs for immersive experiences.

Which countries buy the most luxury goods?

South Korea's spending on luxury goods reached $16.8 billion in 2022, a figure that was 24% higher than the year before, according to the report.

Are luxury brands declining?

Rising luxury consumer detachment was reflected last year, as the luxury market declined 1% at current exchange rates to $418 billion (€364 billion) – or remained flat at constant rates. Yet, most telling was that the luxury market lost some 50 million customers over the last two years.

What fashion era is coming back in 2025?

One notable insight for 2025 is that maximalism is back in a big way, no matter which aesthetic you align with most. We're ditching quiet luxury in favor of rich colors, loud statement accessories, and a sense of fun. Leopard print isn't going anywhere, and (surprisingly!) neither is Barbiecore… with a twist, anyway.

What is the quiet luxury trend?

Quiet luxury is the style of looking effortlessly refined without relying on flashy logos or excessive embellishments. This aesthetic prioritises premium fabrics, timeless silhouettes and craftsmanship, creating a wardrobe that feels both luxurious and understated.

Are people buying less luxury?

All told, the entire luxury sector is set to drop by 2% over the 2024 full-year period, Bain said. But that doesn't mean consumers are pausing their spending altogether; the travel, fine wine and dining, and auto sectors both reported modest growth this year.

Is Louis Vuitton falling?

LVMH Moët Hennessy Louis Vuitton SE is the world's largest multinational luxury goods conglomerate, boasting more than 75 prestigious brands across various sectors. The company's shares have declined by roughly 20% throughout 2025.

What are the emerging luxury markets?

Emerging markets represent new potential avenues of growth—including in Latin America, India, Southeast Asia, and Africa—that are collectively expected to add more than 50 million upper-middle-class luxury consumers by 2030.

What sells the most in a recession?

How to break into the luxury industry?

Attending fashion events, networking with professionals, and leveraging LinkedIn can open doors. Exceptional Customer Service – Whether in retail, marketing, or branding, luxury brands prioritise a high level of customer experience. Developing strong interpersonal and communication skills is essential.