Designer Apparel and Footwear (Ready-To-Wear) in France

PROSPECTS

Renewed sales growth pushed by increased tourism

After a record 2017, the recovery in international tourism was confirmed by a favourable 2018 outlook. The number of arrivals in Parisian hotels of French consumers, who are the biggest visitors to the region, grew by 6% over the year to 18 million.

Under millennials’ influence, category sales buoyed by online purchasing

Online shopping in luxury goods is growing. An estimated 90% of customers for branded clothing and valuable accessories visit websites at least once a year, according to IFM-matchesfashion.

Men’s apparel is at the heart of all major luxury designers’ strategy

Men’s ready-to-wear apparel has been at the heart of large luxury groups’ strategy since 2011 and led to major reshuffling amongst artistic directors. Major luxury groups that invested heavily in women’s labels during the previous decade are faced either with this category’s saturation or a significant slowdown in growth.

COMPETITIVE LANDSCAPE

Kering’s Gucci and Balenciaga enjoy a fabulous year

Large global players LVMH, Kering and Hermès International dominate a very competitive and fragmented category. Kering’s Gucci and Balenciaga made quite an impression in 2017 and were amongst the hottest brands of the year thanks to the talent of their respective creative directors, Alessandro Michele and Demna Gvasalia.

Demand for second-hand luxury is on the rise

With the emergence of new technology and younger demographics’ changing perception of luxury, second-hand luxury platforms have not only emerged but also grown exponentially. One of the leading such platforms, Vestiaire Collective, even opened a bricks-and-mortar concept store in the upmarket rue Saint-Roch, near Place Vendôme, in October 2017.

Luxury brands are testing new alliances with pure players

Major companies in the category have taken initiatives in the digital field, having long worried about damaging their brands with online sales. In June 2018, Swiss group Richemont announced the acquisition of Watchfinder, a purchase and resale site for used luxury watches, months after the decision to take control of the platform YOOX Net-a-Porter, unveiled in January 2018.

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