the luxury women's clothing market | Italy

1.1 Definition and scope of study

The term luxury clothing refers to those garments that are more elegant and refined than those defined as casual, which are used in everyday life. Usually, luxury clothing is used for going to the office and for special occasions such as dinners, concerts or ceremonies. Other ways to define luxury clothing are "smart casual" or "country club". This category includes all items of clothing: coats, jackets, shirts, pants, shoes, belts, and handbags. This study will cover women's luxury clothing, excluding accessories. 

Regarding the global luxury market, this had come to be worth $67.85 billion in 2018 and it is estimated that between the year 2015 and 2025 the market will grow with a CAGR of 3.5%. This growth is mainly dictated by the fact that luxury goods increasingly contribute to greater social acceptance and by the increase in disposable income of consumers. 

In Italy, the luxury apparel market, especially women's apparel, has always been characterized by strong growth mainly due to the manufacturing and craftsmanship skills of Italian companies and thanks to the Made in Italy concept. In 2019, Italian companies on the Top 100 list, a list that includes the largest companies in terms of revenue in the industry, made 12.4% of total global revenue.  

The market trend is to focus on acquisitions both to grow but above all to differentiate the offer and enter more and more new market segments. For several years now, a very common practice within the sector has been to create partnerships between luxury companies in order to offer their clients something new and original.  

There are many companies that operate in this market such as Gucci, considered the Italian fashion house par excellence, Prada, Armani, Versace, Ferragamo, etc.