The luxury women's apparel market has continued to show robust growth in recent years, driven by the expansion of affluent populations, particularly in Asia, the Middle East and Russia. Despite a general decline in the global luxury goods market during the pandemic, it has seen a resurgence, with growth of 14% in 2021. Luxury apparel represents an important segment, accounting for 22% of personal luxury goods. French brands maintain a dominant presence in the sector, contributing around 25% of overall sector sales, with LVMH, Richemont and Kering as major players. The French market itself is a key player, heavily dependent on international tourism and travel retailing.

E-commerce has also seen considerable growth, while trends are moving towards casual luxury wear and ethical fashion, particularly among younger consumers. The industry gives priority to maintaining its "Made in France" image, which is associated with quality, design and status, even if some production has moved abroad. Although facing challenges such as production costs and the pressure to remain digitally relevant, the market represents a promising area for investment with potential for further growth, particularly in online sales, which remain strong post-pandemic.

The thriving luxury women's apparel market in France: Trends and key figures

In the competitive world of fashion, the luxury women's apparel market in France has shown remarkable vitality and steady growth, to the great benefit of renowned French luxury groups. With an estimated value of between 40 and 50 billion euros by 2021, the French luxury apparel sector makes a significant contribution to the country's GDP, accounting for a considerable 6.7%. This robust market has flourished thanks to the influx of affluent individuals and France's appeal as a top tourist destination, particularly Paris, which is known as the fashion capital. The luxury apparel segment, which includes products such as outdoor coats, jackets, dresses, skirts and blouses, has flourished thanks to the increase in the number of affluent people in the world and particularly strong demand from regions such as Asia, the Gulf States and Russia.

In terms of global trends, the luxury personal goods market, which includes women's luxury apparel, reached a value of between 280 and 290 billion euros in 2021, with optimistic projections indicating a potential increase to between 360 and 380 billion euros by 2025. As far as luxury women's apparel is concerned, China's growing purchasing power has made it a pivotal market, with millions of Chinese millionaires driving international consumption of luxury goods.

In France, the domestic luxury market continues to show positive year-on-year growth, with industry experts very confident about market prospects. The luxury sector, led by giants like LVMH and supported by international sales, relies on France's global reputation for quality, design and status - a sentiment reflected in France's high ranking among nations in terms of product reputation.

Consumer behavior in the luxury segment is evolving, with Millennials and Generation Z influencing a shift towards casual and ethical clothing. A growing number of people prefer casual luxury clothing, prompting brands to integrate streetwear elements into their high-end collections. At the same time, there is a shift towards environmentally-friendly products, with around 65% of those questioned in a survey saying they had bought ethical clothing at some point.

The online sales channel has grown exponentially, becoming an increasingly crucial part of the luxury apparel market's distribution strategy. While direct sales through brand stores are still widespread, e-commerce has taken on a more prominent role, particularly in China, a market that has always been quick to embrace digital trends. In France, despite a preference for in-store experiences, the overall volume of online sales remains significantly higher than before the crisis.

The titans of the luxury women's apparel market: LVMH, Kering and Richemont

The luxury women's apparel market is a field where creativity, prestige and opulence converge, giving life to a fashion that doesn't just dress, but affirms. at the forefront of this illustrious industry are three dominant conglomerates: LVMH, Kering and Richemont. These groups are pillars of craftsmanship and commerce, often dictating the direction and pace of the market with their influential brands and their ability to tap into the zeitgeist.

  • LVMH (Moët Hennessy Louis Vuitton) The world's leading luxury goods conglomerate, LVMH is distinguished by the diversity of its portfolio, which weaves a tapestry of excellence across diverse sectors, including wines and spirits, leather goods, fragrances, cosmetics and, of course, luxury apparel. Under its extensive wings are famous fashion houses such as Louis Vuitton, Dior and Givenchy, whose creations adorn catwalks and red carpets. LVMH has forged a reputation not only for timeless elegance, but also for strategic business acumen, maintaining a global presence that appeals to a multitude of luxury consumers.
  • Kering Kering, another France-based titan, has a knack for nurturing brands that marry avant-garde aesthetics with cultural sensibility. The conglomerate's portfolio includes some of the boldest names in luxury apparel, including Gucci, Saint Laurent and Balenciaga. These brands are known for setting trends rather than following them, offering a revolutionary vision of luxury that resonates with a modern audience. Kering's focus on innovation has enabled the group to become a major player in defining the future of luxury fashion.
  • Richemont While Richemont is best known for its mastery of watchmaking and jewelry under brands such as Cartier and Van Cleef & Arpels, its foray into luxury apparel has been marked by strategic investments and an appreciation of heritage. Acquisitions such as that of Italian online fashion retailer Yoox Net-a-Porter demonstrated Richemont's commitment to expanding its digital footprint in the luxury market, recognizing the growing importance of e-commerce in the high-end apparel sector.

These conglomerates have one thing in common: they know how to leverage their brand heritage while evolving to meet the desires of today's affluent consumers. Whether it's innovative designs, robust marketing strategies or digital transformation,

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Summary and extracts

1 Market overview

1.1 Market definition

The luxury women's apparel market includes outdoor coats and jackets, blazers, suits, dresses and skirts, pants, sweatshirts and blouses. Excluded from this market are leather goods, accessories such as watches and jewelry, as well as cosmetics and perfumes. This market is made up of Haute-Couture brands and Couture houses (luxury brands that do not have the Haute-Couture appellation).

The luxury women's apparel sector has shown considerable dynamism in recent years. Strong growth has been observed both in the French market and, above all, in export markets, where French brands are performing extremely well. By 2021, the market has been estimated at 45.14 billion euros.

Growth in these segments is being driven by the emergence of high net worth individuals around the world, and by strong tourist flows to France and Paris. The customers of luxury clothing brands are individuals, part of a very select clientele, largely female. More and more customers come from Asia, the Gulf States and Russia.

Groups such as LVMH, Richemont and Kering dominate the market in areas ranging from luxury clothing and beverages to cosmetics and watches.

The main growth market for luxury clothing remains China , with its upper-middle class and high purchasing power.

List of charts

  • Breakdown of the luxury personal goods market by product type
  • Global market for personal goods and luxury apparel
  • Global luxury market value by type of product and service
  • Perceived outlook for the luxury apparel market
  • Clothing expenditure per capita
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Latest news

Chanel invests in Italy again: new joint for Gensi Group - 29/02/2024
  • **Chanel investment in the Gensi Group Footwear Factory**:
    • - Inauguration of a new 3,000-square-meter splicing department at the Mosciano Sant'Angelo (Teramo) production site.
    • - Activation of 4 new production lines of 70 meters each.
    • - Currently, 6 production lines are in operation, with a plan to double them in the next 3 years through the inclusion of new professional resources.
  • **Corporate Sustainability Initiatives**:
    • - Formation of 3 working groups dedicated to the company's environmental sustainability a year ago.
    • - Reduction in energy consumption and processing waste.
    • - Advances in recycling and reuse.
    • - Launch of in-house training institute "M'Astri Nascenti" in collaboration with Arsutoria School, with 60 people trained to date.
  • **Workforce and Hiring Plans**:
    • - Currently, the company has more than 660 employees, of whom more than 120 are hemlines.
    • - New hires are planned to further increase the workforce.
  • **Manufacturing Chanel and Italian Supply Chain**:
    • - Chanel shoes are designed in France but produced in Italy.
    • - Italian companies controlled by Chanel involved in production: Roveda of Parabiago (acquired in 1999), Gensi of Giulianova (acquired in 2015), and Ballin Shoes (acquired in 2020).
Jacquemus, the fashion "darling" looking to grow | Jacquemus looks to expand - 18/01/2024
  • Jacquemus was founded in 2009
  • Jacquemus brand expected to reach sales of 280 million euros in 2023
  • The brand had passed the 100 million euro mark by 2021
  • Jacquemus grew from 60 employees in 2019 to 300 in 2021
  • Sales target for 2025 is 500 million euros
  • Leather goods account for over 50% of Jacquemus sales
  • The Chiquito bag is a great success
  • The most advanced project to open a second store after the one on Avenue Montaigne in Paris is a location on New Bond Street in London, scheduled for 2023
  • In the next three years, store openings are planned in the United States and the Middle East
  • Jacquemus has also opened ephemeral boutiques in Seoul, Saint-Tropez and Courchevel.
Fashion: how Prada reinvents itself - 13/01/2024
  • Prada was founded in 1913 by brothers Mario and Martino Prada.
  • By 2023, Prada's retail sales have increased by 13% compared to 2022.
  • The luxury goods market is expected to see around 40% of its global sales absorbed by China by 2030, according to Bain & Company.
  • Prada created its own foundation in 1995, which is located in Milan.
Gucci: a challenge for Kering - 08/01/2024
  • Gucci, Kering's flagship brand, guarantees two thirds of the group's profits.
  • Kering acquired a 30% stake in Valentino.
  • Kering also bought Creed perfumes.
  • Balenciaga, one of Kering's brands, has been in difficulty since November 2022
SMCP: The ready-to-wear crisis extends to the high-end segment - 20/09/2023
  • SMCP is the parent company of Sandro, Maje, Claudie Pierlot and Fursac.
  • Consumption of these brands is declining.
  • France, the historic cradle of the SMCP group, accounts for a third of sales.
  • China accounts for around 20% of SMCP sales.
  • The SMCP group has noted a clear downturn in consumption since August.
  • SMCP is 29% controlled by the creditors of Shandong Ruyi, the former majority shareholder, which now holds only 8% of the capital.
  • Fast Retailing (parent company of Uniqlo), has announced the closure of 55 stores out of the 136 in France of the two brands Comptoir des Cotonniers and Princesse tam.tam.
Chanel creates "La Parcelle", a new green and artistic space - 14/09/2023
  • Le 19M, the space dedicated to Chanel's métiers d'arts, was inaugurated in 2021.
  • Le 19M brings together 600 craftsmen and experts in eleven Maisons d'arts.

Companies quoted in this study

This study contains a complete overview of the companies in the market, with the latest figures and news for each company. :

Hermès International
Christian Dior Couture
Pierre Balmain
Prada Groupe
Capri Holdings
Dolce & Gabbana
Ralph Lauren

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