Global Powers of Luxury Goods 2019

Executive summary

• The world’s Top 100 luxury goods companies generated revenues of US$247 billion in FY2017, up from US$217 billion in the previous year (an increase of US$30 billion).
• Annual growth jumped to 10.8% and 76% of the companies reported growth in their luxury sales, with nearly half of these recording double-digit year-on-year growth.
• Closer home, the luxury products market in India continues to experience a high growth rate, with a rising disposable income segment supplementing purchasing decisions that are enabled with the power of technology.
• Markets beyond metros, - and a growing number of ‘HENRYs’ (High Earning Not Rich Yet individuals) spending on luxury goods are largely responsible for the growth of this market.
• The next few years are going to be dynamic for the Indian luxury market with increasing growth and competition seen especially in the “bridge to luxury” segment.
• Traditional “definitions” and “characteristics” of luxury are evolving thereby creating new opportunities for both existing players and entrants.
• The report discusses the trends and issues that are driving the luxury industry. It suggests why luxury goods companies should be aware of the changes brought about by the new affluent class of customers. It also identifies the 100 largest luxury goods companies based on publicly available data for FY2017 (which we define as financial years ending within the 12 months to June 2018), and evaluates their performance across geographies and product sectors.