The global luxury apparel market is anticipated to grow at a considerable CAGR of 4.8% during the forecast period (2024-2031).The rise in the demand for luxury apparel is fuelled by the growing travel and tourism industry. Whether in another country or at an airport, tourists account for majority of luxury purchases. As the economy is starting to recover, there is a rise in travel and tourism, which is driving up demand for high-end fashion items. For instance, in February 2024, UK reintroduces tax-free shopping for the aim to recover luxury fashion. The government reinstates a tax-free shopping for tourists visiting the UK to win back tourists and will help in boosting the overall economy and luxury apparel sales. Europe is also the most popular travel destination, drawing lots of tourists from around the world. The main tourist spots in the region are found in nations like France, Germany, and Italy. Luxury fashion products are more affordable in France and Italy due to the concentration of luxury fashion firms there. There is a rising awareness of using eco-friendly materials and production processes, along with a shift towards sustainability and ethical standards. 

Updation of luxury apparels by major brands is further aiding to the global market growth. For instance, in June 2021, Gucci established a new way of sustainability that powers creativity and underline the fast moving from fashion’s traditional, linear model. The product range covers accessories, ready-to-wear and travel pieces are made of recycled, regenerated, organic, bio-based and sustainably sourced materials. The collection’s main material is Econyl regenerated nylon, abandoned fishing nets and carpets including plastics that harm marine life and old materials that end up in landfills is regenerated into a new high-quality yarn.

Furtther, in November 2022, Burberry entered into collaboration with Minecraft to bring the Burberry brand story to their communities in a new and unexpected way. It comprises of an in-game adventure from Burberry and Minecraft called Burberry.

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Market Coverage

The market number available for – 2023-2031
Base year- 2023
Forecast period- 2024-2031

Segment Covered- 

By Product Type
By End-user
By Distribution Channel

Regions Covered-

North America
Europe
Asia-Pacific
Rest of the World

Competitive Landscape- includes Dior SE, Ralph Lauren Corp., Giorgio Armani S.p.A., Burberry ltd., Dolce & Gabbana S.r.l., Prada S.p.A., and Kate Spade LLC, among others.

Luxury Apparel Market Report Segment

By Product Type

Clothing (Formal, Casual, Sports, Innerwear)
Footwear
Bags/Handbags
Accessories (Caps, watches, Sunglasses, belts)

By End-user 

Men
Women

By Distribution Channel

Offline Retail 
Online Retail

A full Report of Luxury Apparel Market is Available @  https://www.omrglobal.com/industry-reports/luxury-apparel-market

Luxury Apparel Market Report Segment by Region

North America                                                                                                           

United States
Canada

Europe

UK
Germany
Spain
France
Italy
Rest of Europe

Asia-Pacific

India
China
Japan
South Korea
Rest of APAC

Rest of the World

Latin America
Middle East and Africa 

Company Profiles

Phillip Lim
Burberry Group plc
CHANEL
Dolce & Gabbana S.r.l
Guccio Gucci S.p.A.
Hermes International
Kate Spade LLC.
Prada S.p.A.
PVH Corp. (Calvin Klein)
Tapestry Inc. (Coach)
Valentino S.p.A.
Yves Saint Laurent SAS

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We cover more than 15 major industries, further segmented into more than 90 sectors.
More than 120 countries are for analysis.
Over 100+ paid data sources mined for investigation.
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