Global Luxury Apparels are expected to make a significant contribution to the overall industry, with an estimated market to reach USD82.42 Million by 2024.
According to a lead Analyst "The global luxury goods market is regionally concentrated to European region only. Since all the leading manufacturers such as Kering SA, Ermenegildo Zegna, Kiton, Hugo Boss A.G, Hermes International S.A., Versace, and many others are headquartered in Europe. Moreover, due to volatile demand for luxury apparels comparatively less number of manufacturers are available in the global market. Moreover, the threat of new entrants is moderate since the initial investments are high. Thus, the global luxury apparels market will show moderate competitive rivalry.". Buoyed by strong demand and sales, industry profit margins have increased considerably during past few years.
According to the report, some of the important driving forces behind the market growth are Growing Disposable Income across the Globe and Increasing Demand for Soft, Comfortable, and Breathable Apparels. The primary concern of any business is the reduction of the overall operating cost. The increased need for operating efficiency and meeting regulatory demands at the same time have become major challenges for the original Vendors, additional restraints impacting market are Comparatively Expensive than the Conventional Apparels and Continuously Changing Fashion Trends which is continuously seeking attention of Industry Experts and Decision makers.
The Luxury Apparels Ecosystem: 2018-2024 Opportunities, Challenges, Strategies, Industry Verticals & Forecasts report presents an in-depth assessment of the Luxury Apparels market including latest technologies & innovation, key trends, market drivers, challenges, vertical & market applications along with deployment case studies, regulatory landscape, future roadmap and strategies, value chain and player profiles. The report also presents market size forecasts from 2018 till 2024. The forecasts are segmented and major geographies with country level break-up that includes South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, Spain, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Data Sources & Methodology The primary sources involves the industry experts from the Luxury Apparels Market including the management organizations, processing organizations, analytics service providers of the industry’s value chain. All primary sources were interviewed to gather and authenticate qualitative & quantitative information and determine the future prospects.
In the extensive primary research process undertaken for this study, the primary sources – Postal Surveys, telephone, Online & Face-to-Face Survey were considered to obtain and verify both qualitative and quantitative aspects of this research study. When it comes to secondary sources Company's Annual reports, press Releases, Websites, Investor Presentation, Conference Call transcripts, Webinar, Journals, Regulators, National Customs and Industry Associations were given primary weight-age.