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1 Market Overview
1.1 Definition and presentation
The term luxury dazzle refers to those garments that are more elegant, refined and well-groomed than those defined as casual, which are used in everyday life. Usually luxury clothing is used for going to the office and for special occasions such as dinners, concerts or ceremonies. Other ways to define luxury clothing are "elegant casual" or "country club". This category includes all items of clothing: coats, jackets, shirts, pants, shoes, belts and handbags. This study will cover women's luxury clothing, excluding accessories.
Regarding the global luxury market, this had reached $67.85 billion in 2018, and it is estimated that between the year 2015 and 2025 the market will grow with a CAGR of 3.5 %. This growth is mainly dictated by the fact that luxury goods increasingly contribute to greater social acceptance and also by the increase in consumers' disposable income.
In Italy, the luxury clothing market, especially women's clothing, has always been characterized by strong growth mainly due to the manufacturing and craftsmanship skills of Italian companies and thanks to the Made in Italy concept. In 2019, Italian companies on the Top 100 list, a list that includes the largest companies in terms of revenue in the industry, made 12.4 % of total global revenue.
The trend in the market is to focus on acquisitions both to grow but more importantly to differentiate the offerings and increasingly enter new market segments. For several years now, a widely used practice within the industry has been to create partnerships between luxury companies so that they can offer their customers something that is always new and original.
There are numerous companies operating in this market such as Gucci, considered the Italian fashion house by excellence, Prada, Armani, Versace, Ferragamo, etc.
List of charts presented in this market study
- World market value of luxury fashion
- Turnover of major luxury companies
- Comparison of sales in luxury apparel between 2019 and 2022 by market
- Percentage of Italian luxury fashion companies VS percentage of revenue
- Percentage of companies by sector
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Latest news
Dolce & Gabbana goes public to realize its dreams of greatness - 24/07/2024
- - Estimated value of Dolce & Gabbana: around 6 billion euros.
- - Dolce & Gabbana sales for fiscal 2023-2024: €1.8 billion.
- - Annual sales growth: 17% year-on-year.
- - Share of sales in China before the "bad buzz" of 2018: over 20% of sales.
- - Decline in the activities of certain luxury players in China: up to 30%.
- - Share of Dolce & Gabbana sales in the United States and Canada: close to 30% of its business.
- - Number of Dolce & Gabbana stores in the United States: 72, with 12 new openings planned.
- - Sales target for Dolce & Gabbana's beauty division, reinternalised in 2022: from 1.5 to 3 billion euros within four years.
- - Number of people hired to develop the beauty division: nearly 300.
Vinted profitable for the first time - 29/04/2024
- - **Sales up:** 596.3 million euros last year, representing an increase of 61%.
- - **Net income:** 17.8 million euros (against a loss of 20.4 million euros in 2022).
- - **Workforce:** 2,000 employees. - **Year of creation:** 2008.
- - **Number of registered members in France:** 27 million.
- - **Market position:** Europe's third-largest textile operator, behind Zalando and Shein, and number one in the C to C second-hand market in Europe.
Fashion: how Prada reinvents itself - 13/01/2024
- Prada was founded in 1913 by brothers Mario and Martino Prada.
- By 2023, Prada's retail sales have increased by 13% compared to 2022.
- The luxury goods market is expected to see around 40% of its global sales absorbed by China by 2030, according to Bain & Company.
- Prada created its own foundation in 1995, which is located in Milan.
Gucci: a challenge for Kering - 08/01/2024
- Gucci, Kering's flagship brand, guarantees two thirds of the group's profits.
- Kering acquired a 30% stake in Valentino.
- Kering also bought Creed perfumes.
- Balenciaga, one of Kering's brands, has been in difficulty since November 2022
Vinted: the recipe for the new king of online fashion - 01/12/2023
- In the third quarter of 2023, Vinted is the most visited fashion site in France.
- Vinted has 23 million subscribers in France.
- The company was founded in 2008.
- Vinted has posted sales growth of 51% in 2022.
- The company's sales in 2022 were 370 million euros.
- Vinted has almost 2,000 employees.
- Almost half (44%) of all baby clothes bought online are purchased on Vinted.
- The second-hand fashion market was worth 6 billion euros in 2022 in France.
- The total clothing market in France in 2022 was worth 26 billion euros.
- Vinted's notable competitors include Shein, Temu, Zalando, La Redoute, Leboncoin, and Vestiaire Collective.
In 10 years, Vinted has become France's leading online fashion retailer - 13/11/2023
- In 2020, Vinted became the leading online fashion retailer in France in terms of volume.
- Vinted also became the leader in sales in 2021, surpassing Amazon.
- Since 2019, Vinted has more than doubled its market share in women's ready-to-wear and footwear.
- Vinted has captured half of the online baby clothing market.
- Founded in 2008, Vinted launched in France in 2013. Vinted has over 23 million registered users in France.
- The second-hand fashion market represents 4% of fashion-textile purchase volumes and 2% by value.
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