Table of Contents
Introduction
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- Company coverage
- Terms and definitions
- Luxury goods – a definition
- Mintel market size – consolidated revenues
- Mintel market size – at retail selling prices
- Exchange rates
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- Figure 1: US dollar to euro exchange rates, 2005-11
- Product categories
- Technical notes
- Financial definitions
- Abbreviations
Executive Summary
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- Market size and forecast
- Market shares
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- Figure 2: Global luxury consumer goods market: The leading 20 operators’ market shares, 2010 and 2011
- Regional breakdown
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- Figure 3: Global luxury consumer goods market: Breakdown, by region, 2010 and 2011
- Asia-Pacific revenues
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- Figure 4: Selected luxury houses: Percentage of group revenues deriving from Asia-Pacific region, 2010 and 2011
- Product categories
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- Figure 5: Global luxury consumer goods market: Breakdown, by product category, 2010 and 2011
Issues in the Market
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- Preventing the upper-mass drift
- High-end and hard-luxury looking the best bets
- Balancing technology and tradition in a multichannel world
- The BRICs and beyond
Trend Application
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- 2015 trend: Access Anything, Anywhere
- 2015 trend: East Meets West
Global Market Background
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- Key points
- Who buys luxury goods?
- Who can afford to buy?
- High Net Worth Individuals (HNWIs)
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- Figure 6: Number of HNWIs, by region, 2003-11
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- Figure 7: World: HNWIs, 2007-11
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- Figure 8: Average wealth of HNWIs, 2003-11
- Economic background
- Other factors
- Stock markets
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- Figure 9: Major stock market performance, 2008-12
- Currency
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- Figure 10: Major currencies, 2002-12
- Tourism
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- Figure 11: International inbound tourism, 2000-11
Global Luxury Goods Market Size and Forecast
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- A second consecutive year of double digit growth
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- Figure 12: Global luxury goods: Estimated market size, 2007-14
- Outlook – 2012 and beyond
- Economic and political uncertainty
- Luxury growth rates forecast to soften in 2012
- Prospects by region
- Market breakdown by region
- Asia-Pacific led the market in 2011
- European growth underpinned by foreign tourists
- The Americas shunted into third place
- Middle East became secondary emerging force behind China
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- Figure 13: Global luxury goods: Estimated market size, by region, 2007-11
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- Figure 14: Global luxury goods: Estimated share of market, by region, 2010 and 2011
- Hard-luxury outperforms again in 2011
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- Figure 15: Global luxury goods: Estimated market size, by product group, 2007-11
- Figure 16: Global luxury goods: Estimated share of market, by product group, 2010 and 2011
Fashion and Leather Goods
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- Market size
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- Figure 17: Luxury fashion and leather goods: Global sales, by brand owners, 2007-11
- Market shares
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- Figure 18: Leading ten operators’ share of global luxury fashion and leather goods market, 2010 and 2011
- Who’s innovating
- Olympic fashions
- Vuitton’s Haute Maroquinerie
- In-store technology
- New markets and new stores
- Tailoring to market
Watches and Jewellery
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- Market size
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- Figure 19: Luxury jewellery and watches: Global sales, by brand owners, 2007-11
- Market shares
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- Figure 20: Leading ten operators’ share of global luxury watches and jewellery market, 2010 and 2011
- Who’s innovating
- Jubilee and Olympics create demand
- Chinese demand continues
- Brands look for bigger boutique presence
- Online develops with 3D augmented reality technology
- Technology strengthens the in-store experience
Perfume and Cosmetics
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- Market size
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- Figure 21: Luxury perfumes and cosmetics: Global sales, by brand owners, 2007-11
- Market shares
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- Figure 22: Leading ten operators’ share of global luxury perfumes and cosmetics market, 2010 and 2011
- Who’s innovating
- Pop-up shops
- Selfridges thinks British
- Penhaligon’s hits the roof
- Spa performance
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- Figure 23: Kiehl’s spa
- Isetan puts beauty in a capsule
- Ba Yan Ka La combines Chinese culture with Western beauty cues
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- Figure 24: Ba Yan Ka La, Shanghai
Brazil
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- SWOT
- Strengths
- Weaknesses
- Opportunities
- Threats
- Prospects
China
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- SWOT
- Strengths
- Weaknesses
- Opportunities
- Threats
- Prospects
Europe
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- SWOT
- Strengths
- Weaknesses
- Opportunities
- Threats
- Prospects
India
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- SWOT
- Strengths
- Weaknesses
- Opportunities
- Threats
- Prospects
Japan
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- SWOT
- Strengths
- Weaknesses
- Opportunities
- Threats
- Prospects
- Changing habits
- Operating in a saturated market
- Luxury tourism
Middle East
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- SWOT
- Strengths
- Weaknesses
- Opportunities
- Threats
- Prospects
- UAE
- SWOT
- Strengths
- Weaknesses
- Opportunities
- Threats
Russia
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- SWOT
- Strengths
- Weaknesses
- Opportunities
- Threats
- Prospects
South Africa
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- SWOT
- Strengths
- Weaknesses
- Opportunities
- Threats
- Prospects
USA
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- SWOT
- Strengths
- Weaknesses
- Opportunities
- Threats
- Prospects
Market Shares and Key Metrics
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- Market shares
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- Figure 25: Global luxury consumer goods market: The leading 20 operators’ market shares, 2010 and 2011
- Leading brand owners by revenues
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- Figure 26: Global luxury consumer goods market: Leading operators’ net revenues, 2010 and 2011
- Revenue growth rates
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- Figure 27: Leading luxury houses: CAGR in revenues, 2007-11, and year-on-year revenue growth, 2010-11
- Product revenue mix
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- Figure 28: Selected luxury houses: Sales mix, by luxury category, 2011
- Asia-Pacific revenues
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- Figure 29: Selected luxury houses: Percentage of group revenues deriving from Asia-Pacific region, 2010 and 2011
- Store numbers
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- Figure 30: Selected luxury houses: Directly-operated store numbers, 2010 and 2011
- Retail contribution to revenues
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- Figure 31: Selected luxury houses: Percentage of group revenues deriving from direct retailing, 2010 and 2011
- The Swiss watchmakers
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- Figure 32: Percentage of all COSC certificates accounted for by leading Swiss-watch brands, 2010 and 2011
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- Figure 33: Number of Swiss watch certificates issued by the COSC, brands registering >10,000 certificates in 2010 or 2011
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- Figure 34: Number of Swiss watch certificates issued by the COSC, three leading brands, 2007-11
Burberry Group Plc
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- Figure 35: Burberry Group Plc: Share of global luxury goods market, 2007-11
- Strategic evaluation
- Background
- Company performance
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- Figure 36: Burberry Group Plc: Group financial performance, 2007/8-2011/12
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- Figure 37: Burberry Group Plc: Percentage of group revenues from Asia-Pacific and Rest of the World segments, 2007/08–2011/12
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- Figure 38: Burberry Group Plc: Percentage of group revenues from retail sales, 2007/08–2011/12
- Figure 39: Burberry Group Plc: Revenues, by channel, 2007/08-2011/12
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- Figure 40: Burberry Group Plc: Outlet data, 2008/09-2011/12
- Figure 41: Burberry PLC: Company-owned store breakdown, 2007/08-2011/12
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- Figure 42: Burberry Group Plc: Percentage contribution to retail/wholesale revenues, by product category, 2010/11–2011/12
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- Figure 43: Burberry Group: Retail/wholesale revenues, by product category, 2007/08–2011/12
- Brands
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- Figure 44: Burberry Group Plc: Identified womenswear and menswear SKU breakdown, July 2012
- E-commerce and social networks
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Christian Dior Couture
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- Figure 45: Christian Dior Couture: Share of global luxury goods market, 2007-11
- Strategic evaluation
- Background
- Company performance
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- Figure 46: Christian Dior: Group financial performance, 2007-11
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- Figure 47: Christian Dior Couture: Percentage contribution to group revenues, 2007-11
- Figure 48: Christian Dior Couture: Breakdown of revenues, by channel/geography, 2010 and 2011
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- Figure 49: Christian Dior Couture: Revenues, by channel, 2007-11
- Figure 50: Christian Dior Couture: Retail and Other revenues, by geography, 2007-11
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- Figure 51: Christian Dior Couture: Outlet numbers, 2007-11
- Brands
- E-commerce and social networks
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Estée Lauder Companies
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- Figure 52: Estée Lauder Companies: Share of global luxury goods market, 2007-11
- Strategic evaluation
- Background
- Company performance
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- Figure 53: Estée Lauder: Group financial performance, 2006/07-2011/12
- Figure 54: Estée Lauder: Group financial performance, by region, 2006/07-2010/11
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- Figure 55: Estée Lauder: Sales breakdown, by region, 2006/07 and 2010/11
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- Figure 56: Estée Lauder: Group financial performance, by product area, 2006/07-2010/11
- Figure 57: Estée Lauder: Sales breakdown, by product area, 2006/07and 2010/11
- Distribution
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- Figure 58: Estée Lauder, Net sales, by distribution channel, 2007/08-2010/11
- Brands
- E-commerce and social networks
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- Figure 59: Estée Lauder websites, 2012
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Giorgio Armani
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- Figure 60: Giorgio Armani: Estimated share of global luxury goods market, 2007-11
- Strategic evaluation
- Background
- Company performance
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- Figure 61: Giorgio Armani: group financial performance, 2007-11
- Figure 62: Giorgio Armani: geographical breakdown of sales, 2010-11
- Distribution
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- Figure 63: Armani: Outlet numbers, 2007-11
- Brands
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- Figure 64: Armani: Brands, 2012
- E-commerce and social networks
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Harry Winston
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- Figure 65: Harry Winston: Share of global luxury goods market, 2007-11
- Strategic evaluation
- Background
- Company performance
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- Figure 66: Harry Winston: Luxury performance, 2007/8-2011/12
- Brands
- E-commerce and social networks
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Hermès International
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- Figure 67: Hermès: Share of global luxury goods market, 2007-11
- Strategic evaluation
- Background
- Company performance
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- Figure 68: Hermès: Financial performance, 2007-11
- Sales by region
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- Figure 69: Hermès: Share of sales, by region, 2007 and 2011
- Sales by product category
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- Figure 70: Hermès: Sales, by Product category, 2007-11
- Distribution
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- Figure 71: Hermès: Retail outlets, 2007-11
- Figure 72: Hermès: Stores, by region, 2007-11
- Brands
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- Figure 73: Hermès: Sales mix, 2010 and 2011
- E-commerce and social networks
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L’Oréal Luxe
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- Figure 74: L’Oréal Luxe: Share of global luxury goods market, 2007-11
- Strategic evaluation
- Background
- Company performance
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- Figure 75: L’Oréal Group: Financial performance, 2009-11
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- Figure 76: L’Oréal Luxe: Financial performance, 2007-11
- Figure 77: L’Oréal Luxe: Sales contribution, by region, 2010 and 2011
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- Figure 78: L’Oréal Luxe: Sales, by region and product area, 2009-11
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- Figure 79: L’Oréal Group: Contribution to group revenues, by region, 2011
- Figure 80: L’Oréal Luxe: Sales contribution, by product category, 2010 and 2011
- Brands
- E-commerce and social networks
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LVMH Moët Hennessey-Louis Vuitton
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- Figure 81: LVMH: Share of global luxury goods market, 2007-11
- Strategic evaluation
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- Figure 82: LVMH: Contribution to luxury goods revenues, by product category, 2010-11
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- Figure 83: LVMH: Contribution of Asia region to revenues, selected segments and group total (values shown), 2007-11
- Background
- Company performance
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- Figure 84: LVMH: Group financial performance, 2007-11
- Figure 85: LVMH: Contribution to group revenues, by region, 2007-11
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- Figure 86: LVMH: Distribution of segment revenues, by region, 2011
- Figure 87: LVMH: Distribution of retail outlets, by region, 2010-11
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- Figure 88: LVMH: Directly-operated outlet numbers, by region, 2007-11
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- Figure 89: LVMH: Directly-operated outlet numbers, by selected segments, 2009-11
- Brands
- E-commerce and social networks
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PPR Luxury (Gucci Group)
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- Figure 90: PPR Luxury: Share of global luxury goods market, 2007-11
- Strategic evaluation
- Background
- Company performance
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- Figure 91: PPR Luxury: Brand contributions to total revenue growth, 2010 and 2011
- Figure 92: PPR Luxury: Group financial performance, 2007-11
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- Figure 93: PPR Luxury: Contribution to group and brand revenues, by product category, 2011
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- Figure 94: PPR Luxury: Contribution to group and brand revenues, by region, 2011
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- Figure 95: PPR Luxury: Contribution to group revenues, by product category and region, 2007-11
- Figure 96: PPR Luxury: Directly-operated outlet numbers, 2007-11
- Gucci
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- Figure 97: Gucci: Contribution to group revenues, by product category and region, 2007-11
- Bottega Veneta
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- Figure 98: Bottega Veneta: Contribution to revenues, by product category and region, 2007-11
- Yves Saint Laurent
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- Figure 99: Yves Saint Laurent: Contribution to revenues, by product category and region, 2007-11
- Others
- Brands
- E-commerce and social networks
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Prada
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- Figure 100: Prada: Share of global luxury goods market, 2007-11
- Strategic evaluation
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- Figure 101: Prada: Contribution of leather goods category to total net sales revenues, 2008/09–2011/12
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- Figure 102: Prada: Expenditure on product development and advertising and promotion, 2010/11-2011/12
- Background
- Company performance
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- Figure 103: Prada: Group financial performance, 2007/8-2011/12
- Figure 104: Prada: Directly-operated retail revenues as percentage of total group revenues, 2008/09–2011/12
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- Figure 105: Prada: Group net revenue breakdown, by channel, 2008/09–2011/12
- Figure 106: Prada: Total Asia-Pacific revenues as percentage of all net sales, 2008/09–2011/12
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- Figure 107: Group net sales revenue breakdown, by region, 2008/09–2011/12
- Figure 108: Group net sales revenue breakdown, by product type, 2008/09–2011/12
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- Figure 109: Prada: Directly-operated outlet numbers, by brand, 2010/11–2011/12
- Figure 110: Prada: Directly-operated outlet numbers, by region, 2010/11-2011/12
- Brands
- E-commerce and social networks
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Ralph Lauren Corp
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- Figure 111: Ralph Lauren Corp: Estimated share of global luxury goods market, 2007-11
- Strategic evaluation
- Background
- Company performance
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- Figure 112: Ralph Lauren: Group financial performance, 2007/08-2011/12
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- Figure 113: Ralph Lauren: Revenue contributions, by segment, 2007-11
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- Figure 114: Ralph Lauren: Turnover, by region, 2007-11
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- Figure 115: Ralph Lauren Corp: Total group turnover, by region, 2010-11
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- Figure 116: Ralph Lauren: Company-owned outlet numbers, 2008-12
- Brands
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- Figure 117: Ralph Lauren: Brands, 2012
- E-commerce and social networks
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Richemont
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- Figure 118: Richemont: Share of global luxury goods market, 2007-11
- Strategic evaluation
- Background
- Company performance
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- Figure 119: Richemont: Group financial performance, 2007/08–2011/12
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- Figure 120: Richemont: Percentage of group revenues from retail operations, 2007/08–2011/12
- Figure 121: Richemont: Contribution to group revenues, by region, 2007/08-2011/12
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- Figure 122: Richemont: Revenues, by region, 2007/08-2011/12
- Figure 123: Richemont: Year-on-year growth in revenues for hard-luxury and soft-luxury goods, 2009/10–2011/12
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- Figure 124: Richemont: Revenues, by product category, 2007/08–2011/12
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- Figure 125: Richemont: Financial performance, by operating segment, 2007/08–2011/12
- Figure 126: Richemont: Outlet numbers, 2007/08-2011/12
- Brands
- E-commerce and social networks
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Shiseido
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- Figure 127: Shiseido: Share of global luxury goods market, 2007-11
- Strategic evaluation
- Background
- Company performance
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- Figure 128: Shiseido: Group financial performance, 2007/8-2011/12
- Figure 129: Shiseido: Sales split, domestic vs overseas, 2007/08-2011/12
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- Figure 130: Shiseido revenues, by region, 2007/08-2011/12
- Figure 131: Shiseido: Sales, by region, 2007/08-2011/12
- Brands
- E-commerce and social networks
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Swatch
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- Figure 132: Swatch Group (luxury): Estimated share of global luxury goods market, 2007-11
- Strategic evaluation
- Background
- Company performance
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- Figure 133: Swatch Group: Estimated contribution to company’s Watch and Jewellery segment sales, by brand/segment, 2011
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- Figure 134: Swatch Group: Group financial performance, 2007-11
- Figure 135: Swatch Group: Watches and Jewellery segment performance, 2007-11
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- Figure 136: Swatch Group: Swiss-watch certificates issued by the COSC, 2007-11
- Strong demand in emerging markets
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- Figure 137: Swatch Group: Turnover, by region, 2007-11
- Predicting further growth in China
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- Figure 138: Swatch Group: Total group turnover, by region, 2011
- Distribution
- Brands
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- Figure 139: Swatch group: Watch brands, 2012
- E-commerce and social networks
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Tiffany & Co.
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- Figure 140: Tiffany & Co: Share of global luxury goods market, 2007-11
- Strategic evaluation
- Background
- Company performance
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- Figure 141: Tiffany & Co.: Group financial performance, 2007/8-2011/12
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- Figure 142: Tiffany & Co: Share of group sales, by region, 2008/09-2011/12
- Figure 143: Tiffany & Co: Sales growth, by region, 2011/12
- Distribution
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- Figure 144: Tiffany & Co.: Outlet data, 2007/08-2011/12
- Figure 145: Tiffany & Co: Stores, by region, 2007/08-2011/12
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- Figure 146: Tiffany & Co: Store numbers, by country, January 2012
- Figure 147: Tiffany & Co: Company-operated store numbers and size, January 2012
- Brands
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- Figure 148: Tiffany & Co: Group product mix, 2009/10 to 2011/12
- E-commerce and social networks
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Tod’s
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- Figure 149: Tod’s: Share of global luxury goods market, 2007-11
- Strategic evaluation
- Background
- Company performance
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- Figure 150: Tod’s Group: Financial performance, 2007-11
- Figure 151: Tod’s Group: Sales, by region, 2007-11
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- Figure 152: Tod’s Group: Outlets, 2007-2011
- Figure 153: Tod’s store portfolio, December 2011
- Brands
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- Figure 154: Tod’s Group: Sales, by product, 2007-11
- Figure 155: Tod’s Group: Sales, by brand, 2011
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- Figure 156: Tod’s group–sales, by brand, 2007-11
- E-commerce and social networks
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Valentino
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- Figure 157: Valentino: Share of global luxury goods market, 2007-11
- Strategic evaluation
- Background
- Company performance
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- Figure 158: Valentino Fashion Group: Financial performance, 2007-11
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- Figure 159: Valentino Fashion Group: Sales split, by region, 2011
- Distribution
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- Figure 160: Valentino Fashion Group: Number of boutiques, 2011
- Brands
- E-commerce and social networks
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Appendix – Broader Market Environment
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- Figure 161: Selected luxury goods markets: Total population, 2007-11
- Figure 162: Selected luxury goods markets: Population breakdown, by age group, 2010
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- Figure 163: Selected luxury goods markets: GDP growth rates (in current prices), 2002-11
- Figure 164: Selected luxury goods markets: GDP growth rates (in constant prices), 2002-11
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- Figure 165: Selected luxury goods markets: Consumer prices, % change on previous year, 2007-11
- Figure 166: Selected luxury goods markets: Total retail sales, 2007-11
- Figure 167: Selected luxury goods markets: HNWI numbers, 2007-11
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- Figure 168: Selected luxury goods markets: HNWIs as a proportion of the total population, 2007-11
- Figure 169: Selected luxury goods markets: $ to currencies of markets in this report, 2007-11
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- Figure 170: Selected luxury goods markets: € to currencies of markets in this report, 2007-11
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