75 luxury brands rake in $171.8bn last year
07/07/2014
The consultancy’s first Global Powers of Luxury Goods report focuses on companies headquartered in France, Italy, Spain, Switzerland, the UK and the US. These six countries represented nearly 87% of the top 75 luxury goods companies and accounted for 90% of sales in 2012.
“Despite operating in a troubled economic environment, luxury goods companies fared better than consumer product companies and global economies generally. For the remainder of this year, we expect growth in developed economies to pick up speed while significant risks in emerging markets remain,” said Deloitte’s Antoine de Riedmatten.
“Overall performance of the luxury sector will depend not only on economic growth, but on factors such as volume of travel, protection of intellectual property, consumer propensity to save, and changing income distribution.”
The Middle East and Africa, Asia Pacific and Latin America accounted for 19% of the luxury market in 2013 and the regions are projected to grow to 25% in 2025, according to Euromonitor.
“The appetite for European and American brands remains strong in emerging markets, so these companies are bolstering their presence in these regions,” added Mr de Riedmatten.
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