DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/lhkrkz/global_personal) has announced the addition of the "Global Personal Luxury Goods Market 2015-2019" report to their offering.
The global personal luxury goods market is forecast to grow at a CAGR of 8.45% over the period 2014-2019.
This report covers the present scenario and the growth prospects of the global personal luxury goods market for 2015-2019. To calculate the market size, the report considers revenue generated from the sales of various personal luxury goods products in the market. The report includes a discussion of the key vendors operating in this market.
A strong polarization can be seen in the market as well as in customers. There is strong growth of the 'alternative to luxury' segment among the luxury apparel segment, while mid-priced handbags are also outpacing the mega brands. In 2014, the strongest polarization trend was seen within the watches segment in the UK, wherein consumers were either purchasing luxury timepieces or opting for basic, low-priced watches.
According to the report, economic development, especially in developing countries such as India and Brazil, is resulting in an increase in the affluent population. As people move toward the affluent segment they start becoming more conscious about their appearance and their environment and start seeing personal luxury goods as a status icon. This affluent population is increasingly spending its money on luxury brands and these brands are also trying to capitalize on the new and upcoming segment by making their products available through multiple channels and expansion of their retail stores.
Further, the report states that as the global personal luxury brands continue to aggressively invest in new product launches and expansion of their retail stores in different geographies, they also face a major risk with respect to maintaining brand desirability.
On the basis of type of product, the global personal luxury goods market has been segmented as follows:
- Luxury apparel (men's RTW and women's RTW)
- Luxury accessories (leather goods such as handbags, purses, wallets and belts, and shoes)
- Hard luxury (watches and jewellery)
- Luxury beauty (cosmetics and perfumes)
On the basis of mode of distribution, the global personal luxury goods market has been segmented as follows:
- Airport channel
- Department stores
- Monobrand stores
- Online channel
- Off-price stores
- Specialty stores
- Compagnie Financiere Richemont
- L'Oreal Luxe
- Louis Vuitton
- Luxottica Group
- The Estee Lauder Companies
Other prominent vendors
- Hermes International
- Salvatore Ferragamo
For more information visit http://www.researchandmarkets.com/research/lhkrkz/global_personal