Luxury apparels which can also be called as superior or Veblen apparels, includes leather, cotton, silk, woolen and many others garments such as coats, jackets, trousers, over-coats and other apparels which are comparatively expensive than the conventional garments. These type of apparel products are highly demanded by the higher and middle income population. In addition to this, the export potential of these garments is decided by the quality as well as uniqueness of the apparel. Since the historic times, only the rich could afford luxury apparels, but growing Asia Pacific economies and increasing disposable incomes will lead to generate significant demand for luxury goods in the forecasting years.
According to AMA, the market for Luxury Apparels is expected to register a CAGR of 4.1% during the forecast period to 2026. This growth is primarily driven by Growing Disposable Income across the Globe and Increasing Demand for Soft, Comfortable, and Breathable Apparels.
Globally, a noticeable market trend is evident Huge Demand for Leather Luxury Apparels
. The Apparel, Accessories & Luxury Goods sector in the Europe region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Kering SA (France), Ermenegildo Zegna (Italy), Kiton (Italy), Hugo Boss A.G (Germany), Hermes International S.A (France), Versace (Italy), Prada S.P.A. (Italy), Dolce and Gabbana (Italy), Burberry Group Inc. (United Kingdom) and LVMH Moet Hennessy Louis Vuitton S.E (France) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 06th December 2018, a leading luxury apparel manufacturers ‘Kering’ has collaborated with The Savory Institute to recognize the positive impact of agriculture industry on the fashion industry. Being the global leader, the company has become a frontier founder under Savory’s land to advocate verified regenerative sourcing solutions and expand the regenerative agriculture framework in fashion’s global supply chains.
The United States Government’s ‘Customs and Border Protection (CBP)’ and ‘the Federal Trade Commission (FTC)’ has enforced the labeling laws and acts in the Country. In general, textile and apparel products sold in the United States must be labeled with the information regarding the fiber content, the country of origin, the manufacturer or dealer identity, and the care instructions.
- Growing Disposable Income across the Globe
- Increasing Demand for Soft, Comfortable, and Breathable Apparels
- Huge Demand for Leather Luxury Apparels
- Growing Adoption of Cotton Apparels
- Comparatively Expensive than the Conventional Apparels
- Continuously Changing Fashion Trends
Rising Adoption of Online Sales in Apparel Industry and Surging International Trades for Luxury Apparel Market
Volatile Consumer Demand as well as Fashion Preferences and Increasing Need for Sustainable Alternatives to Conventional Textile Manufacturing
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Luxury Apparels Study Sheds Light on
The Luxury Apparels Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Luxury Apparels industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Luxury Apparels industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.