Italy’s still leading the luxury market

Category:

In the past few days, Italian luxury has been widely talked about, especially after Deloitte published the 6th edition of its Global powers of luxury goods. The annual review of 100 global businesses’ performances in the field confirms that Italian products are still synonymous with elegance and premium-quality craftsmanship, but also raises some noteworthy questions on a few critical points.

Although little discussed, at least in Italy, Asian countries have been able to climb through the rankings of luxury protagonists, where they might have previously been listed as main buyers, but certainly not as suppliers.

Italy is still leading the luxury market with 24 businesses in the field. Two thirds of them are working in the fashion and accessory industry, where they make 14% of the ranking overall profit. The first three Italian labels to be listed are Luxottica (5th), Prada (21st) and Giorgio Armani (26th).Moncler stroke the best performance of all ranked Italian brands, but Furla shined even more by reporting the highest growth rate in sales (18.7%).

On a global level, the 100 largest luxury goods companies generated sales of US $247billion in 2017, with an average $2.47 per company. For the third year in a row, LVMH, Esteé Lauder, Richemont, Kering and Luxottica proved to be the five best players (for the latter, the report considered data before the merge with French manufacturer Essilor).

 

sponsored
sponsored
Editorial
Editorial
Our editorial staff includes people with different professional backgrounds who share a passion for writing and who want to create and develop a dialogue with their readers and with the world.

Related Posts

Milano Gallery Weekend: Otto Zoo

Founded by Francesca Guerrizio and Maurizio Azzali in 2008, Otto Zoo experiments with contemporary art in all its forms by featuring young and mid-career artists, both Italian and international

Mansur Gavriel: a capsule collection to honor Alexander Calder

Shapes and colors that define kinetic sculptures: 20th century American designer Alexander Calder’s work is based on complex mechanisms that can turn on and move to interact with humans

LVMH for luxury holding is a real boom

Le azioni del gruppo LVMH crescono di quasi il 50% da inizio anno, trascinando il comparto del lusso al rialzo. Il prezzo delle azioni è passato, in poco più di nove mesi, da 253,3 euro di inizio 2019 agli odierni 375,8 euro