February 21st, 2022
According to the latest report by IMARC Group, titled, “Luxury Footwear Market Growth: Global Industry Trends, Share, Size, Opportunity and Forecast 2021-2026”, The global luxury footwear market grew at a CAGR of around 5% during 2015-2020. Looking forward, IMARC Group expects the market to grow moderately during 2021-2026.
Luxury footwear is made up of premium quality materials. On the basis of durability, uniqueness, and comfort, it can be compared to its affordable counterparts. It is expensive, exclusive, and scarcely available in the market as it is not mass-produced. The increasing preference for lavish fashion brands as a status symbol is positively impacting the market.
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We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
The growing fashion industry and improving living standards with inflating disposable income are primarily driving the market growth. Moreover, increasing penetration of social media with rapid urbanization is also propelling the product demand. Furthermore, advent of a wide product range by various key industries with alliances and strategic partnerships to enable customized footwear and a broad selection range in material, design, color, and size to expand the consumer base is catalyzing the market growth. Additionally, the rapid shift in distribution channels of luxury footwear from offline towards online platforms is further augmenting the market. Other factors, including continuous adoption of sustainable materials in manufacturing footwear with increasing environmental awareness and assertive promotional activities with numerous product innovations, will proliferate the market growth in the coming years.
Breakup by Product:
Breakup by End User:
Breakup by Distribution Channel:
Breakup by Region:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
Some of these key players include:
A.Testoni (Sitoy Group Holdings Ltd)
Chanel S.A. (CHANEL International B.V.)
Dr. Martens (Airwair Group Limited)
Hermès International S.A.
Lottusse – Mallorca
LVMH Moët Hennessy – Louis Vuitton
Prada S.p.A (LUDO srl)
Salvatore Ferragamo S.P.A.
Silvano Lattanzi srl.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
If you want latest primary and secondary data (2021-2026) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.
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