Luxury Apparels Market by Material (Cotton, Silk, Leather, and Denim), Gender (Male and Female), and Mode of Sale (Offline and Online): Global Opportunity Analysis and Industry Forecast, 2017-2023 Update Available On-Demand
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CO_172282
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Pages: 120
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May
2017 |
4807 Views
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Author(s) :
Smriti Loomba
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Tables: 72
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Charts: 48
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Formats*:
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Luxury Apparels Market Overview:
Global Luxury Apparels Market size was valued at $62.62 billion in 2016, and is expected to reach at $81.23 billion by 2023, registering a CAGR of 3.9% from 2017 to 2023. Cotton is considered as one of the luxury apparels widely used as natural fabrics in the global textile industry. Pure cotton is considered the real luxury because of the type of weave, namely plain and twill weave used. More than half of the consumers globally demand for cotton shirts, dresses, and tops, owing to its durability, requires low maintenance, and cooling ability. Thus, the cotton fabric material generated the highest revenue in 2016 in the global luxury apparels industry.
The factors that drive the luxury apparels market growth are change in lifestyle patterns due to rapid urbanization, rise in disposable income, surge in e-commerce sales, and growth in emerging countries, such as Asia-Pacific and LAMEA. However, high cost of raw materials restrains the luxury apparels market growth.
Based on mode of sale, the luxury apparel market is classified into offline and online. Offline sales channel includes mono brand stores or franchise stores, which constitute the best platform to reach out the customers and analyze their needs. By analyzing consumer behavior and buying patterns allows manufacturers to improve their existing products and innovate new products. Thus, offline mode of sales generated the highest revenue in 2016. However, online platforms have become a popular medium to purchase designer apparels among consumers. Increased preference of consumers for luxury products through online mode has encouraged many new market entrants to launch their own e-commerce sites. Thus, online sales platform is expected to exhibit the highest growth rate by 2023 in the luxury apparels market.
The global luxury apparels market is segmented into material, gender, mode of sale, and geography. Based on material, it is classified into cotton, silk, leather, and denim. Based on gender, it is bifurcated into male and female. Fashion designers have always been experimenting with women fashion in terms of material, design, and pallet. Thus, the female segment has dominated not only the global fashion market but also luxury apparel market. Women in entertainment, modeling, and sports prefer premium fabric clothing made of satin, lace, fur, and polyester that provides them comfort dominating the global luxury apparels market. Geographically, the luxury apparels market is analyzed across North America, Europe, Asia-Pacific and LAMEA.
The report includes comprehensive analysis of the key players in the luxury apparels market, such as Ralph Lauren Corporation, Christian Dior, Michael Kors, Coach, Inc., Gianni Versace S.P.A., Girogio Armani S.P.A., Nike, Inc., Hermes International, Inc., Tommy Hilfiger USA Inc., and Burberry Group, Inc.
The other prominent players in the luxury apparels industry include Dolce & Gabbana, Fendi, Socit Cartier, Calvin Klein Inc., True Religion, Chanel S.A., and Guess, Inc.
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Segment Review
The availability of cheap labor in Asia-Pacific is expected to contribute in excess denim production, thereby supplementing growth of the luxury denim market. In addition, advances in the denim industry have increased the customer base. For instance, the initiation of Lycra hybrid technology in the industry has gained popularity due to its super stretch properties. The blend of Lycra with denim has made denim material more stretchable than the conventional material, which allows customers to choose from a variety of options.
Key Benefits
- This report provides an in-depth analysis of the global luxury apparels market to identify the potential investment pockets.
- It outlines the current trends and future scenarios to determine the overall market potential and gain stronger market foothold.
- Key drivers, restraints, and opportunities and their detailed impact analysis are elucidated.
- Quantitative analysis of the market from 2016 to 2023 is highlighted to recognize the financial competency of the market.
- Porters Five Forces model illustrates the threat of new entrants, threat of substitutes, and strength of the buyers & suppliers.
Luxury Apparels Market Key Segments:
By Material
- Cotton
- Silk
- Leather
- Denim
By Gender
- Male
- Female
By Mode Of Sale
- Offline
- Online
By Geography
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Italy
- Germany
- Rest of Europe
- Asia-Pacific
- China
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Ralph Lauren Corporation
- Christian Dior
- Michael Kors
- Coach, Inc.
- Gianni Versace S.P.A.
- Giorgio Armani S.P.A.
- Nike, Inc.
- Hermes International, Inc.
- Tommy Hilfiger USA Inc.
- Burberry Group, Inc.
The Other Players in the Market Include the following:
- Dolce & Gabbana
- Fendi
- Socit Cartier
- Calvin Klein Inc.
- True Religion
- Chanel S.A.
- Guess, Inc.
CHAPTER 1 INTRODUCTION
1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS
1.3. KEY MARKET SEGMENTS
1.4. RESEARCH METHODOLOGY
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models
CHAPTER 2 EXECUTIVE SUMMARY
2.1. CXO PERSPECTIVE
CHAPTER 3 MARKET OVERVIEW
3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS
3.2.1. Top impacting factors
3.2.2. Top winning strategies
3.2.3. Top investment pockets
3.3. PORTERS FIVE FORCES ANALYSIS
3.3.1. Low bargaining powers of suppliers
3.3.2. High bargaining powers of buyers
3.3.3. Low threat of substitution
3.3.4. Low threat of new entrant
3.3.5. High competitive rivalry
3.4. MARKET SHARE ANALYSIS, 2015
3.5. MARKET DYNAMICS
3.5.1. Drivers
3.5.1.1. Rapid growth in urbanization
3.5.1.2. Rising disposable income
3.5.1.3. Growth in online sales
3.5.2. Restraints
3.5.2.1. High cost of raw materials
3.5.3. Opportunities
3.5.3.1. Growing Asia-Pacific and LAMEA economies
CHAPTER 4 LUXURY APPARELS MARKET, BY MATERIAL
4.1. OVERVIEW
4.1.1. Market size and forecast
4.2. COTTON
4.2.1. Key market trends
4.2.2. Key growth factors and opportunities
4.2.3. Market size and forecast
4.3. SILK
4.3.1. Key market trends
4.3.2. Key growth factors and opportunities
4.3.3. Market size and forecast
4.4. LEATHER
4.4.1. Key market trends
4.4.2. Key growth factors and opportunities
4.4.3. Market size and forecast
4.5. DENIM
4.5.1. Key market trends
4.5.2. Key growth factors and opportunities
4.5.3. Market size and forecast
CHAPTER 5 LUXURY APPARELS MARKET, BY MODE OF SALE
5.1. OVERVIEW
5.1.1. Market size and forecast
5.2. OFFLINE
5.2.1. Key market trends
5.2.2. Key growth factors and opportunities
5.2.3. Market size and forecast
5.3. ONLINE
5.3.1. Key market trends
5.3.2. Key growth factors and opportunities
5.3.3. Market size and forecast
CHAPTER 6 LUXURY APPARELS MARKET, BY GENDER
6.1. OVERVIEW
6.1.1. Market size and forecast
6.2. MALE
6.2.1. Key market trends
6.2.2. Key growth factors and opportunities
6.2.3. Market size and forecast
6.3. WOMEN
6.3.1. Key market trends
6.3.2. Key growth factors and opportunities
6.3.3. Market size and forecast
CHAPTER 7 LUXURY APPARELS MARKET, BY GEOGRAPHY
7.1. OVERVIEW
7.1.1. Market size and forecast
7.2. NORTH AMERICA
7.2.1. Key market trends
7.2.2. Key growth factors and opportunities
7.2.3. Market size and forecast
7.2.3.1. U.S.
7.2.3.2. Canada
7.2.3.3. Mexico
7.3. EUROPE
7.3.1. Key market trends
7.3.2. Key growth factors and opportunities
7.3.3. Market size and forecast
7.3.3.1. UK
7.3.3.2. Italy
7.3.3.3. Germany
7.3.3.4. Rest of Europe
7.4. ASIA-PACIFIC
7.4.1. Key market trends
7.4.2. Key growth factors and opportunities
7.4.3. Market size and forecast
7.4.3.1. China
7.4.3.2. India
7.4.3.3. South Korea
7.4.3.4. Rest of Asia-Pacific
7.5. LAMEA
7.5.1. Key market trends
7.5.2. Key growth factors and opportunities
7.5.3. Market size and forecast
7.5.3.1. Latin America
7.5.3.2. Middle East
7.5.3.3. Africa
CHAPTER 8 COMPANY PROFILES
8.1. RALPH LAUREN CORPORATION
8.1.1. Company overview
8.1.2. Company snapshot
8.1.3. Operating business segments
8.1.4. Product portfolio
8.1.5. Business performance
8.1.6. Key strategic moves & developments, 2014-2016
8.2. CHRISTIAN DIOR
8.2.1. Company overview
8.2.2. Company snapshot
8.2.3. Operating business segments
8.2.4. Product portfolio
8.2.5. Business performance
8.2.6. Key strategic moves & developments, 2014-2016
8.3. MICHAEL KORS
8.3.1. Company overview
8.3.2. Company snapshot
8.3.3. Operating business segments
8.3.4. Product portfolio
8.3.5. Business performance
8.3.6. Key strategic moves & developments, 2014-2016
8.4. COACH, INC.
8.4.1. Company overview
8.4.2. Company snapshot
8.4.3. Operating business segments
8.4.4. Product portfolio
8.4.5. Business performance
8.4.6. Key strategic moves & developments, 2014-2016
8.5. GIANNI VERSACE S.P.A.
8.5.1. Company overview
8.5.2. Company snapshot
8.5.3. Operating business segments
8.5.4. Product portfolio
8.5.5. Business performance
8.5.6. Key strategic moves & developments, 2014-2016
8.6. GIORGIO ARMANI S.P.A.
8.6.1. Company overview
8.6.2. Company snapshot
8.6.3. Operating business segments
8.6.4. Product portfolio
8.6.5. Business performance
8.6.6. Key strategic moves & developments, 2014-2016
8.7. NIKE, INC.
8.7.1. Company overview
8.7.2. Company snapshot
8.7.3. Operating business segments
8.7.4. Product portfolio
8.7.5. Business performance
8.7.6. Key strategic moves & developments, 2014-2016
8.8. HERMES INTERNATIONAL, INC.
8.8.1. Company overview
8.8.2. Company snapshot
8.8.3. Operating business segments
8.8.4. Product portfolio
8.8.5. Business performance
8.8.6. Key strategic moves & developments, 2014-2016
8.9. TOMMY HILFIGER USA INC.
8.9.1. Company overview
8.9.2. Company snapshot
8.9.3. Operating business segments
8.9.4. Product portfolio
8.9.5. Business performance
8.9.6. Key strategic moves & developments, 2014-2016
8.10. BURBERRY GROUP, INC.
8.10.1. Company overview
8.10.2. Company snapshot
8.10.3. Operating business segments
8.10.4. Product portfolio
8.10.5. Business performance
8.10.6. Key strategic moves & developments, 2014-2016
LIST OF TABLES
TABLE 1. LUXURY APPARELS MARKET, BY MATERIAL, 2016-2023 ($BILLION)
TABLE 2. LUXURY APPARELS MARKET REVENUE IN COTTON INDUSTRY, BY REGION, 2016-2023 ($BILLION)
TABLE 3. LUXURY APPARELS MARKET REVENUE IN SILK INDUSTRY, BY REGION, 2016-2023 ($BILLION)
TABLE 4. LUXURY APPARELS MARKET REVENUE IN LEATHER INDUSTRY, BY REGION, 2016-2023 ($BILLION)
TABLE 5. LUXURY APPARELS MARKET REVENUE IN DENIM INDUSTRY, BY REGION, 2016-2023 ($BILLION)
TABLE 6. LUXURY APPARELS MARKET, BY MODE OF SALE, 2016-2023 ($BILLION)
TABLE 7. LUXURY APPARELS MARKET REVENUE FROM OFFLINE MODE OF SALE, BY REGION, 2016-2023 ($BILLION)
TABLE 8. LUXURY APPARELS MARKET REVENUE FROM ONLINE MODE OF SALE, BY REGION, 2016-2023 ($BILLION)
TABLE 9. GLOBAL LUXURY APPARELS MARKET, BY GENDER, 2016-2023 ($BILLION)
TABLE 10. LUXURY APPARELS MARKET REVENUE FROM MALE CONSUMERS, BY REGION, 2016-2023 ($BILLION)
TABLE 11. LUXURY APPARELS MARKET REVENUE FROM FEMALE CONSUMERS, BY REGION, 2016-2023 ($BILLION)
TABLE 12. GLOBAL LUXURY APPARELS MARKET, BY REGION, 2016-2023 ($BILLION)
TABLE 13. NORTH AMERICAN LUXURY APPARELS MARKET REVENUE, BY MATERIAL, 2016-2023 ($BILLION)
TABLE 14. NORTH AMERICAN LUXURY APPARELS MARKET REVENUE, BY GENDER, 2016-2023 ($BILLION)
TABLE 15. NORTH AMERICAN LUXURY APPARELS MARKET REVENUE, BY MODE OF SALE, 2016-2023 ($BILLION)
TABLE 16. NORTH AMERICAN LUXURY APPARELS MARKET REVENUE, BY COUNTRY, 2016-2023 ($BILLION)
TABLE 17. U.S. LUXURY APPARELS MARKET REVENUE, 2016-2023 ($BILLION)
TABLE 18. CANADA LUXURY APPARELS MARKET REVENUE, 2016-2023 ($BILLION)
TABLE 19. MEXICO LUXURY APPARELS MARKET REVENUE, 2016-2023 ($BILLION)
TABLE 20. EUROPEAN LUXURY APPARELS MARKET REVENUE, BY MATERIAL, 2016-2023 ($BILLION)
TABLE 21. EUROPEAN LUXURY APPARELS MARKET REVENUE, BY GENDER, 2016-2023 ($BILLION)
TABLE 22. EUROPEAN LUXURY APPARELS MARKET REVENUE, BY MODE OF SALE, 2016-2023 ($BILLION)
TABLE 23. EUROPEAN LUXURY APPARELS MARKET REVENUE, BY COUNTRY, 2016-2023 ($BILLION)
TABLE 24. UK LUXURY APPARELS MARKET REVENUE, 2016-2023 ($BILLION)
TABLE 25. ITALY LUXURY APPARELS MARKET REVENUE, 2016-2023 ($BILLION)
TABLE 26. GERMANY LUXURY APPARELS MARKET REVENUE, 2016-2023 ($BILLION)
TABLE 27. REST OF EUROPE LUXURY APPARELS MARKET REVENUE, 2016-2023 ($BILLION)
TABLE 28. ASIA-PACIFIC LUXURY APPARELS MARKET REVENUE, BY MATERIAL, 2016-2023 ($BILLION)
TABLE 29. ASIA-PACIFIC LUXURY APPARELS MARKET REVENUE, BY GENDER, 2016-2023 ($BILLION)
TABLE 30. ASIA-PACIFIC LUXURY APPARELS MARKET REVENUE, BY MODE OF SALE, 2016-2023 ($BILLION)
TABLE 31. ASIA-PACIFIC LUXURY APPARELS MARKET REVENUE, BY COUNTRY, 2016-2023 ($BILLION)
TABLE 32. CHINA LUXURY APPARELS MARKET REVENUE, 2016-2023 ($BILLION)
TABLE 33. INDIA LUXURY APPARELS MARKET REVENUE, 2016-2023 ($BILLION)
TABLE 34. SOUTH KOREA LUXURY APPARELS MARKET REVENUE, 2016-2023 ($BILLION)
TABLE 35. REST OF ASIA-PACIFIC LUXURY APPARELS MARKET REVENUE, 2016-2023 ($BILLION)
TABLE 36. LAMEA LUXURY APPARELS MARKET REVENUE, BY MATERIAL, 2016-2023 ($BILLION)
TABLE 37. LAMEA LUXURY APPARELS MARKET REVENUE, BY GENDER, 2016-2023 ($BILLION)
TABLE 38. LAMEA LUXURY APPARELS MARKET REVENUE, BY MODE OF SALE, 2016-2023 ($BILLION)
TABLE 39. LAMEA LUXURY APPARELS MARKET REVENUE, BY REGION, 2016-2023 ($BILLION)
TABLE 40. LATIN AMERICA LUXURY APPARELS MARKET REVENUE, 2016-2023 ($BILLION)
TABLE 41. MIDDLE EAST LUXURY APPARELS MARKET REVENUE, 2016-2023 ($BILLION)
TABLE 42. AFRICA LUXURY APPARELS MARKET REVENUE, 2016-2023 ($BILLION)
TABLE 43. RALPH LAUREN CORPORATION: COMPANY SNAPSHOT
TABLE 44. RALPH LAUREN CORPORATION: OPERATING SEGMENTS
TABLE 45. RALPH LAUREN CORPORATION: PRODUCT PORTFOLIO
TABLE 46. CHRISTIAN DIOR: COMPANY SNAPSHOT
TABLE 47. CHRISTIAN DIOR: OPERATING SEGMENTS
TABLE 48. CHRISTIAN DIOR: PRODUCT PORTFOLIO
TABLE 49. MICHAEL KORS: COMPANY SNAPSHOT
TABLE 50. MICHAEL KORS: OPERATING SEGMENTS
TABLE 51. MICHAEL KORS: PRODUCT PORTFOLIO
TABLE 52. COACH, INC.: COMPANY SNAPSHOT
TABLE 53. COACH, INC.: OPERATING SEGMENTS
TABLE 54. COACH, INC.: PRODUCT PORTFOLIO
TABLE 55. GIANNI VERSACE S.P.A.: COMPANY SNAPSHOT
TABLE 56. GIANNI VERSACE S.P.A.: OPERATING SEGMENTS
TABLE 57. GIANNI VERSACE S.P.A.: PRODUCT PORTFOLIO
TABLE 58. GIORGIO ARMANI S.P.A.: COMPANY SNAPSHOT
TABLE 59. GIORGIO ARMANI S.P.A.: OPERATING SEGMENTS
TABLE 60. GIORGIO ARMANI S.P.A.: PRODUCT PORTFOLIO
TABLE 61. NIKE, INC.: COMPANY SNAPSHOT
TABLE 62. NIKE, INC.: OPERATING SEGMENTS
TABLE 63. NIKE, INC.: PRODUCT PORTFOLIO
TABLE 64. HERMES INTERNATIONAL, INC.: COMPANY SNAPSHOT
TABLE 65. HERMES INTERNATIONAL, INC.: OPERATING SEGMENTS
TABLE 66. HERMES INTERNATIONAL, INC.: PRODUCT PORTFOLIO
TABLE 67. TOMMY HILFIGER USA INC.: COMPANY SNAPSHOT
TABLE 68. TOMMY HILFIGER USA INC.: OPERATING SEGMENTS
TABLE 69. TOMMY HILFIGER USA INC.: PRODUCT PORTFOLIO
TABLE 70. BURBERRY GROUP, INC.: COMPANY SNAPSHOT
TABLE 71. BURBERRY GROUP, INC.: OPERATING SEGMENTS
TABLE 72. BURBERRY GROUP, INC.: PRODUCT PORTFOLIO
LIST OF FIGURES
FIGURE 1. LUXURY APPARELS MARKET SEGMENTATION
FIGURE 2. GLOBAL LUXURY APPARELS MARKET: EXECUTIVE SUMMARY
FIGURE 3. TOP IMPACTING FACORS OF LUXURY APPARELS MARKET
FIGURE 4. TOP INVESTMENT POCKETS
FIGURE 5. LOW BARGAINING POWER OF SUPPLIERS
FIGURE 6. HIGH BARGAINING POWER OF BUYERS
FIGURE 7. LOW THREAT OF SUBSTITUTION
FIGURE 8. LOW THREAT OF NEW ENTRANT
FIGURE 9. HIGH COMPETITIVE RIVALRY
FIGURE 10. GLOBAL LUXURY APPARELS MARKET, BY MATERIAL, 2016 & 2023
FIGURE 11. SWOT ANALYSIS OF LEATHER INDUSTRY
FIGURE 12. GLOBAL LUXURY APPARELS MARKET, BY MODE OF SALE, 2016 & 2023
FIGURE 13. GLOBAL LUXURY APPARELS MARKET, BY GENDER, 2016 & 2023
FIGURE 14. GLOBAL LUXURY APPARELS MARKET SHARE, BY REGION, 2016(%)
FIGURE 15. NORTH AMERICA LUXURY APPARELS MARKET REVENUE BY COUNTRY & MODE OF SALE, 2016-2023 ($BILLION)
FIGURE 16. EUROPE LUXURY APPARELS MARKET REVENUE BY COUNTRY & MODE OF SALE, 2016-2023 ($BILLION)
FIGURE 17. ASIA-PACIFIC LUXURY APPARELS MARKET REVENUE, BY COUNTRY & MODE OF SALE, 2016-2023 ($BILLION)
FIGURE 18. LAMEA LUXURY APPARELS MARKET REVENUE BY COUNTRY & MODE OF SALE, 2016-2013 ($BILLION)
FIGURE 19. RALPH LAUREN CORPORATION: REVENUE, 2014-2016 ($MILLION)
FIGURE 20. RALPH LAUREN CORPORATION: REVENUE SHARE BY SEGMENT, 2015 (%)
FIGURE 21. RALPH LAUREN CORPORATION: REVENUE SHARE BY GEOGRAPHY, 2015 (%)
FIGURE 22. CHRISTIAN DIOR: REVENUE, 2014-2016 ($MILLION)
FIGURE 23. CHRISTIAN DIOR: REVENUE SHARE BY SEGMENT, 2015 (%)
FIGURE 24. CHRISTIAN DIOR: REVENUE SHARE BY GEOGRAPHY, 2015 (%)
FIGURE 25. MICHAEL KORS: REVENUE, 2014-2016 ($MILLION)
FIGURE 26. MICHAEL KORS: REVENUE SHARE BY SEGMENT, 2015 (%)
FIGURE 27. MICHAEL KORS: REVENUE SHARE BY GEOGRAPHY, 2015 (%)
FIGURE 28. COACH, INC.: REVENUE, 2014-2016 ($MILLION)
FIGURE 29. COACH, INC.: REVENUE SHARE BY SEGMENT, 2015 (%)
FIGURE 30. COACH, INC.: REVENUE SHARE BY GEOGRAPHY, 2015 (%)
FIGURE 31. GIANNI VERSACE S.P.A.: REVENUE, 2014-2016 ($MILLION)
FIGURE 32. GIANNI VERSACE S.P.A.: REVENUE SHARE BY SEGMENT, 2015 (%)
FIGURE 33. GIANNI VERSACE S.P.A.: REVENUE SHARE BY GEOGRAPHY, 2015 (%)
FIGURE 34. GIORGIO ARMANI S.P.A.: REVENUE, 2014-2016 ($MILLION)
FIGURE 35. GIORGIO ARMANI S.P.A.: REVENUE SHARE BY SEGMENT, 2015 (%)
FIGURE 36. GIORGIO ARMANI S.P.A.: REVENUE SHARE BY GEOGRAPHY, 2015 (%)
FIGURE 37. NIKE, INC.: REVENUE, 2014-2016 ($MILLION)
FIGURE 38. NIKE, INC.: REVENUE SHARE BY SEGMENT, 2015 (%)
FIGURE 39. NIKE, INC.: REVENUE SHARE BY GEOGRAPHY, 2015 (%)
FIGURE 40. HERMES INTERNATIONAL, INC.: REVENUE, 2014-2016 ($MILLION)
FIGURE 41. HERMES INTERNATIONAL, INC.: REVENUE SHARE BY SEGMENT, 2015 (%)
FIGURE 42. HERMES INTERNATIONAL, INC.: REVENUE SHARE BY GEOGRAPHY, 2015 (%)
FIGURE 43. TOMMY HILFIGER USA INC.: REVENUE, 2014-2016 ($MILLION)
FIGURE 44. TOMMY HILFIGER USA INC.: REVENUE SHARE BY SEGMENT, 2015 (%)
FIGURE 45. TOMMY HILFIGER USA INC.: REVENUE SHARE BY GEOGRAPHY, 2015 (%)
FIGURE 46. BURBERRY GROUP, INC.: REVENUE, 2014-2016 ($MILLION)
FIGURE 47. BURBERRY GROUP, INC.: REVENUE SHARE BY SEGMENT, 2015 (%)
FIGURE 48. BURBERRY GROUP, INC.: REVENUE SHARE BY GEOGRAPHY, 2015 (%)
Luxury apparels market has witnessed steady growth in the recent years. North America and Europe are considered as mature markets and resulted in the growth in manufacturers’ foothold in Asia-Pacific, such as India and China. Thus, most of the companies have shifted their production plants to China and other Asia-Pacific countries to reduce the manufacturing costs. Furthermore, adoption of branded and premium clothing witnessed a significant growth, owing to increase in population and economic stability in the aforementioned emerging markets.
The global luxury apparels market is segmented based on gender into male and female. Female consumers dominate the global luxury apparels industry, owing to availability of wide variety of options in women fashion industry and their increase in interest toward upgraded styles. However, the men’s wear market enhanced with fastest pace. Some of the biggest celebrities, athletes, and other artists show increase in attention toward fashion and are collaborating with world’s biggest fashion brands globally, such as Prada, Chanel, Gucci, Hugo Boss, and others, which propels the men’s luxury apparel market. However, change in work patterns and lifestyle fuels the demand for luxury apparels among men, which creates ample opportunities for the companies to launch innovative products in men’s luxury wear segment.
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