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France Luxury Goods Market Size (2024 - 2029)

The France luxury goods market is experiencing growth driven by a combination of factors, including the prominence of country-origin luxury brands and their extensive presence across online and offline channels. The country's status as a top destination for international tourists, particularly from Asia, enhances its appeal in the luxury sector. Additionally, there is a notable shift towards sustainable luxury goods, with millennial consumers prioritizing environmental concerns, prompting brands to adopt ethical production methods. The expansion of the digital ecosystem and the rise of fashion e-commerce platforms further contribute to the increasing demand for luxury goods in France.

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Market Size of France Luxury Goods Industry

France Luxury Goods Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 6.47 %
Market Concentration Low

Major Players

France Luxury Goods Market Major Players

*Disclaimer: Major Players sorted in no particular order

France Luxury Goods Market Analysis

The France luxury goods market is projected to grow at a CAGR of 6.47 % during the forecast period (2022 - 2027).

The market is characterized by the presence of country-origin luxury brands and their widespread presence across both online and offline channels. Further, France is among the most visited European countries and the favorite destination of Asian tourists, especially for fashion and leisure travel. For instance, Valeria Doustaly and Dione Occhipinti, Paris-based entrepreneurs are organizing fashion-focused Paris trips for international tourists since 2014 as Paris is popular as the world's fashion capital across different continents.

Further, the market is experiencing high demand for sustainable luxury goods as millennial consumers of the country are highly aware of the environmental concerns associated with the apparel manufacturing industry, making sustainability, ethical sourcing, and their related labeling schemes more prominent. As a result key brands are launching new products designed with environment-friendly materials through ethical production methods. For instance, Saint Laurent, recently announced that it will stop using fur with effect from the Fall 2022 collections. Kering, the parent company of the brand, which also owns Botta Veneto, Gucci, Balenciaga, and Alexander McQueen will also be completely fur-free in all its fashion houses.

As more and more customers move online, businesses are following the trend, which led to the gradual development of the digital ecosystem. It has provided easy access to product-related information and prices to the customers. Therefore, the rising number of fashion e-commerce platforms is further boosting the demand for luxury goods in France.

France Luxury Goods Industry Segmentation

Luxury goods refer to premium or elite quality products which are expensive as compared to conventional goods. The France luxury goods market (henceforth referred to as the market studied) is segmented by type and distribution channel. By type, the market is segmented into clothing and apparel, footwear, bags, jewelry, watches, and other types. Based on the distribution channel, the market studied is segmented into single-brand stores, multi-brand stores, online stores, and other distribution channels. The report offers market size and forecasts for the France luxury goods market in value (USD million) for all the above segments.

By Type
Clothing and Apparel
Footwear
Bags
Jewelry
Watches
Other Accessories
By Distribution Channel
Single-brand Stores
Multi-brand Stores
Online Stores
Other Distribution Channels
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France Luxury Goods Market Size Summary

The France luxury goods market is experiencing significant growth, driven by the country's status as a global fashion capital and a prime destination for international tourists, particularly from Asia. The market is characterized by a strong presence of domestic luxury brands and their extensive availability through both online and offline channels. The increasing demand for sustainable luxury products is notable, as environmentally conscious millennials prioritize ethical sourcing and sustainability in their purchasing decisions. This trend has prompted major brands like Saint Laurent and Kering to adopt eco-friendly practices, such as eliminating fur from their collections. The rise of fashion e-commerce platforms has further facilitated access to luxury goods, enhancing consumer engagement and driving market expansion.

The market's growth is also fueled by the high per capita consumption of luxury perfumes, reflecting the sophisticated lifestyles of French consumers. The demand for vegan-friendly and cruelty-free cosmetics is on the rise, aligning with broader trends in personal grooming and ethical consumerism. The luxury goods sector in France is highly competitive, with key players like Chanel, LVMH, and Kering employing strategies such as partnerships and innovative product launches to maintain their market positions. The digital transformation, accelerated by the COVID-19 pandemic, has shifted consumer behavior towards online shopping, further contributing to the market's expansion. Luxury brands are enhancing their presence through flagship stores and creative marketing strategies, ensuring they remain at the forefront of the evolving luxury landscape in France.

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France Luxury Goods Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

    2. 1.2 Market Restraints

    3. 1.3 Porter's Five Force Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type

      1. 2.1.1 Clothing and Apparel

      2. 2.1.2 Footwear

      3. 2.1.3 Bags

      4. 2.1.4 Jewelry

      5. 2.1.5 Watches

      6. 2.1.6 Other Accessories

    2. 2.2 By Distribution Channel

      1. 2.2.1 Single-brand Stores

      2. 2.2.2 Multi-brand Stores

      3. 2.2.3 Online Stores

      4. 2.2.4 Other Distribution Channels

France Luxury Goods Market Size FAQs

The France Luxury Goods Market is projected to register a CAGR of 6.47% during the forecast period (2024-2029)

Compagnie Financière Richemont S.A., Kering, Chanel, LVMH Moët Hennessy Louis Vuitton and Hermès are the major companies operating in the France Luxury Goods Market.

French Luxury Goods Market Report Snapshots

France Luxury Goods Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)