France Luxury Goods Market Size
| 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
*Disclaimer: Major Players sorted in no particular order |
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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 Market Trends
This section covers the major market trends shaping the France Luxury Goods Market according to our research experts:
High Affinity for Luxury Perfumes
The French consumer spends more on luxury perfumes thus, the per capita consumption of luxury perfumes is high in the region among the product types such as cologne, Eau de Toilette, Eau de Cologne, and Eau Fraiche, among others. The fact that the country has a developed economy, which has resulted in the up-gradation of the lifestyles of the consumers, has led the giant manufacturers to expand their perfume products in the region. For instance, in 2021, the Mimosa Perfumes company declared that they have launched vintage perfume made with 100% vegan Eau de perfume, a natural ingredients-infused product in the French market. The demand for perfume is rising with the increasing trend of personal grooming among men and the high usage of Eau de Toilette, cologne, perfume, and attar along with exotic fragrances are majorly boosting the growth of the market. Vegan-friendly perfumes are gaining immense popularity in the French market owing to the high demand for cruelty-free cosmetics, which helps luxury brands to fabricate their cruelty-free ethos.
Established Brands and Widespread Presence Across Online and Offline Channels
The French luxury goods market is growing rapidly owing to the increased accessibility of luxury products to customers, the transformation of the conventional luxury consumption model into a new experienced luxury sensibility, and a shift in how consumers perceive luxury. While the pop-up style is still in use and gives luxury brands a lot of flexibility in how they approach new markets or engage consumers with creative concepts, luxury fashion companies are strengthening their presence in the French market by inaugurating new flagship stores for their most recognized brands. For instance, in March 2022, Burberry opens a new flagship store in Rue Saint-Honoré, Paris, France. The new store has three floors showcasing menswear and womenswear.
Over the medium term, with the outbreak of covid-19, the government has imposed certain regulations to stay at home and work which has increased the online shopping tendency among the new generations for the reason to upload pictures on social media platforms for different online fashion-related events and celebrations. Further, as more and more customers move online, businesses are following suit, which led to the gradual development of the digital ecosystem. This has further contributed to the overall growth of the market.
France Luxury Goods Industry Overview
The France luxury goods market is highly competitive with the presence of various domestic and international players competing for a major share in the market. To strengthen their market position, key market players are focusing on various strategies such as partnering with regional brands and launching innovative luxury products. For instance, In October 2021, the Lanvin brand declared the launch of a capsule collection in the menswear product category in France which includes, trendy clothing apparel such as baggy pants and flannel shirts, and denim jacket. Major players dominating the market include Chanel, LVMH, L'Oreal Luxe, Compagnie Financière Richemont S.A., and Kering, among others. Luxury brands compete on different factors, which include, packaging, eye-catching offers, premium quality, comfort, and a wide variety of product offerings to gain a competitive edge in the market.
France Luxury Goods Market Leaders
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Compagnie Financière Richemont S.A.
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Kering
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Chanel
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LVMH Moët Hennessy Louis Vuitton
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Hermès
*Disclaimer: Major Players sorted in no particular order
France Luxury Goods Market News
- In April 2022, well-known skincare brand Shiseido declared the launch of its new skincare products in the french market.
- In October 2021, LVMH declared that they have acquired the French-based fragrance brand Officine Universelle Buly 1803 to sell its variety of heritage perfumes globally including in France.
- In October 2021, the well-known luxury footwear brand Roger Vivier declared the launch of its latest footwear and accessories under its fall '21 collection.
France Luxury Goods Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Drivers
- 4.2 Market Restraints
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4.3 Porter's Five Force Analysis
- 4.3.1 Threat of New Entrants
- 4.3.2 Bargaining Power of Buyers/Consumers
- 4.3.3 Bargaining Power of Suppliers
- 4.3.4 Threat of Substitute Products
- 4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 By Type
- 5.1.1 Clothing and Apparel
- 5.1.2 Footwear
- 5.1.3 Bags
- 5.1.4 Jewelry
- 5.1.5 Watches
- 5.1.6 Other Accessories
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5.2 By Distribution Channel
- 5.2.1 Single-brand Stores
- 5.2.2 Multi-brand Stores
- 5.2.3 Online Stores
- 5.2.4 Other Distribution Channels
6. COMPETITIVE LANDSCAPE
- 6.1 Most Adopted Strategies
- 6.2 Market Share Analysis
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6.3 Company Profiles
- 6.3.1 LVMH Moët Hennessy Louis Vuitton
- 6.3.2 Chanel
- 6.3.3 Hermès
- 6.3.4 Kering
- 6.3.5 Compagnie Financière Richemont SA
- 6.3.6 Yves Saint Laurent
- 6.3.7 L'Oreal Luxe
- 6.3.8 PVH Corp.
- 6.3.9 amelie pichard
- 6.3.10 Tom Ford SA
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
9. DISCLAIMER
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 |
France Luxury Goods Market Research FAQs
What is the current France Luxury Goods Market size?
The France Luxury Goods Market is projected to register a CAGR of 6.47% during the forecast period (2024-2029)
Who are the key players in France Luxury Goods Market?
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.
What years does this France Luxury Goods Market cover?
The report covers the France Luxury Goods Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the France Luxury Goods Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the major factors driving the France Luxury Goods Market?
The major factors driving the France Luxury Goods Market are a) Consumers seek not just products, but personalized experiences associated with luxury brands b) France remains a top tourist destination, with many visitors purchasing luxury goods during their stay
French Luxury Goods Industry Report
The France Luxury Goods Market, celebrated for its exceptional quality and exclusivity across fashion, accessories, beauty products, watches, and jewelry, thrives on a robust consumer base and unparalleled craftsmanship heritage. This market caters to a discerning demographic that values craftsmanship and brand prestige. Amidst increasing digitalization, e-commerce growth, and a shift towards sustainability and ethical practices, French luxury brands stand out for their timeless designs and eco-friendly commitments. The expansion into online retail and emerging markets, alongside Paris and major cities being luxury shopping hubs, offer significant growth opportunities. The competitive arena is intense, with innovation and heritage driving brand loyalty and dominance. Key challenges, including economic uncertainty and counterfeit products, are countered with strategic marketing and anti-counterfeit efforts, ensuring the sector's enduring appeal and growth worldwide. Access comprehensive market insights and forecasts with Mordor Intelligence™ Industry Reports for an in-depth analysis of the French Luxury Goods market's trajectory. Get a sample of this industry analysis as a free report PDF download.
