Hard Luxury Goods Market Scope
Growing preferences for front-line as well as sophisticated products among customers will help to boost global hard luxury goods market all over the world in the forecasted period. Hard luxury goods are the product that signifies prosperity and copiousness. Hard luxury goods aren’t necessary for human living but are interlinked with extremely desired and rich persons. The growing number of high net-worth people in established nations and the increasing disposable income of customers in emerging nations. These are key drivers of hard luxury goods market.
The market study is being classified by Type (Watches, Jewelry and Other) and major geographies with country level break-up. According to AMA, the Global Hard Luxury Goods market is expected to see growth rate of 10.9%
Research Analyst at AMA predicts that European Vendors will contribute to the maximum growth of Global Hard Luxury Goods market throughout the predicted period.
Graff Diamonds Ltd. (United Kingdom), LVMH (France), Giorgio Armani (Italy), Swatch Group (Switzerland), Richemont (Switzerland), Bulgari (Italy), Chanel S.A. (France), Ralph Lauren Corp. (United States), Tiffany & Co. (United States) and Harry Wintson (United States) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Bottega Veneta (Italy), Tod's S.p.A (Italy), While Christian Dior SE (France) and Hermes International SCA (France).
AdvanceMarketAnalytics has segmented the market of Global Hard Luxury Goods market by Type, Application and Region.
On the basis of geography, the market of Hard Luxury Goods has been segmented into 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, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2018. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. If we see Market by Sales Channel, the sub-segment i.e. Monobrand Store will boost the Hard Luxury Goods market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Gender, the sub-segment i.e. Men will boost the Hard Luxury Goods market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
On April 2019, Graff Diamonds Ltd. has introduced a new diamond called The Graff Lesedi La Rona. The 302.37 carat Graff Lesedi La Rona is the largest highest color, highest clarity diamond ever certified by the GIA, and the world’s largest square emerald cut diamond, expertly cut and polished by Graff’s world-leading team of gemologists and master polishers.
In March 2019, Graff Diamonds Ltd. has acquired a remarkably rare 13.33-carat pink rough diamond. This stone was discovered at the Letseng mine in the African Nation of Lesotho, by Gem Diamonds in February 2019. The purchased value is 8,750,360, dollars, breaking the record dollar per carat price of any Letseng diamond.
- Consumer Changing Preferences towards Experiencing Luxury and Premium Products
- Rising Inclination towards Brand
- Increasing Dependency on E-Commerce
- Extremely Dense Retail Network
- Advance Progress in New Product Development
- The Escalation in Buyers Inclined Towards Copious and Premium Goods
- Huge Opportunity for New and Innovative Designs
- Global Brands Emphasizing On Expansion in Every Potential Market
- Inefficient Distribution Channels
- Lack of Raw Material
- Concern about Fluctuation in Prices
Key Target AudienceHard Luxury Goods Manufactures, Distributors and Suppliers, Government Regulatory Bodies, Government and Private Research Organizations and Others
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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