Three Trends Driving the Global Luxury Goods Market in 2023
Fflur Roberts
As the global economy faces slower growth and high inflation, the challenges and uncertainties facing both luxury consumers and key players are escalating. The extraordinary global disruptions over the last few years have led to the rise of a new economic reality that is shaping the consumption of luxury goods and business outcomes today, but is similarly setting the benchmark of what we should expect for the short-term outlook.
Diverging Paths: Exploring Contrasting Performances in Sportswear
Fátima Linares
Sportswear outperformed apparel and footwear over 2017-2022. However, not all brands capitalised on this favourable trend. On the bright side is lululemon, the brand that keeps surprising with strong growth even in markets where others struggle. What makes the difference to compete - and win - in the competitive sportswear industry?
Could the Next Generation of Man-Made Fibres Fast-Track the Transition to Circular Fashion?
Marguerite Le Rolland
As Global Fashion Agenda’s (GFA) Global Fashion Summit is about to take place in Copenhagen on 27-28 June, Euromonitor International looks at today’s key market pressures that are driving positive change in the fashion industry and, in particular, discusses the next generation of sustainable man-made fibres and how they hold the potential to change the way fashion is produced, marketed, and consumed.
Decoding Nike's Hyper-Localisation Strategy: Targeting Gen Z to Adapt to the Chinese Sportswear Market
Jitong Li
Nike Inc, the leading sportswear company in China, has experienced declining growth rates over the past five years, facing competition from Chinese rivals such as Anta and Li-Ning. However, Nike remains committed to the dynamic and crucial Chinese sportswear market, showing no signs of decoupling.
Luxury and Fashion: What to Expect in 2023?
Fflur Roberts
The world continues to be a challenging place in 2023. Just as we thought it was safe to re-engage after the pandemic, the global economy started to look fragile again. In this video Fflur Roberts and Marguerite LeRolland, Euromonitor’s respective Heads of Luxury Goods and Fashion, discuss what they think will be the most impactful trends in the year ahead. How is the industry adapting to new retail preferences as our new lifestyles and working habits take form? What value propositions are consumers looking for in an inflationary environment and a cost-of-living crisis where spending is being squeezed. With the growing urgency in sustainability, what new business models are we likely to see filtering through?
Why the Acquisition of Tiffany & Co is Important for LVMH
Fátima Linares
LVMH Moët Hennessy Louis Vuitton SA (LVMH) sales surpassed pre-pandemic levels in 2021 already boosted by a strong recovery across categories and regions. The company outperformed the industry and its closest competitors over 2017-2022 recording a 15% CAGR. The acquisition of Tiffany & Co, completed in 2021, is the big contributor to this performance.
How to be a Disruptive Brand: A Focus on Renovation
Karolina Grigorijevaite
Euromonitor International’s Renovation, Innovation and Disruption framework helps businesses understand how to respond and execute change with a varying impact on their markets. Here we focus on renovation, and analyse how brands globally are turning this into an opportunity for growth.
Barcelona Fashion Summit
Euromonitor International
Barcelona Fashion Summit is the main meeting point for professionals in the fashion business in Spain, a forum that brings together the top executives of the sector around a program of keynotes and panels with the leading experts and executives of this industry.
Duty-Free Shopping a Missed Opportunity for UK Tourism?
Alexander Göransson
In its autumn budget the UK government announced that it would be re-instating VAT reclaim shopping for inbound tourists (AKA duty free), marking a U-turn as this was abolished in 2021 when the market was worth GBP3 billion, annually. Here we discuss the potential for VAT re-claim once re-instated, the wider role of shopping as a driver of tourism to the UK and how other industries may benefit, such as luxury.