How big is the APAC Luxury Goods Market?

The APAC Luxury Goods Market size is expected to reach USD 141.82 billion in 2024 and grow at a CAGR of 4.06% to reach USD 173.05 billion by 2029. Read More

What is the current APAC Luxury Goods Market size?

In 2024, the APAC Luxury Goods Market size is expected to reach USD 141.82 billion. Read More

Who are the key players in APAC Luxury Goods Market?

Chanel S.A, Hermès International S.A, Kering S.A., Rolex SA and LVMH Moet Hennessy Louis Vuitton SE are the major companies operating in the APAC Luxury Goods Market. Read More

What years does this APAC Luxury Goods Market cover, and what was the market size in 2023?

In 2023, the APAC Luxury Goods Market size was estimated at USD 136.29 billion. The report covers the APAC Luxury Goods Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the APAC Luxury Goods Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Asian Luxury Goods Market Growth | Industry Analysis, Size & Trends Report

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

The report covers Asian Luxury Goods Market Trends and is segmented by Type (Clothing and Apparel, Footwear, Bags, Jewelry, Watches, and Other Types), Distribution Channel (Single-branded Stores, Multi-brand Stores, Online Stores, and Other Distribution Channels), and Geography (China, Japan, India, Australia, South Korea, and Rest of Asia-Pacific). The report offers market size and forecasts for the Asia-Pacific luxury goods market in value (in USD million) for all the above segments.

Asia Pacific Luxury Goods Industry Overview

The Asia-Pacific luxury goods market is fragmented with the presence of various companies. Some of the major players in the market are LVMH Moet Hennessy Louis Vuitton SE, Chanel SA, Rolex SA, Hermes International SA, and Kering SA. Emphasis is given to the merger, expansion, acquisition, and partnerships of the companies, along with the new product development, as a strategy adopted by the leading companies to boost their brand presence among consumers. Players in the market are diversifying their products and expanding their distribution circles, and they are experimenting through online channels to acquire a competitive edge in the market. For example, in May 2020, Alibaba Group Holding Ltd launched a new luxury platform aimed at young consumers, as well as assisting high-end brands in shedding excess inventory accumulated during the global COVID-19 pandemic. The company was piloting the new luxury Soho platform to run alongside its Tmall Luxury Pavilion flagship site. With Luxury Soho, brands can now move selected products and collections onto an online outlet store and bring them in front of a specific audience.