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Country Report
Luxury Goods in
Malaysia
Luxury Goods in Malaysia
Feb 2021
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Executive Summary
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COVID-19 impact on luxury goods
Malaysia declared a Movement Control Order (MCO) between 18 March and 4 May 2020 which resulted in a total lockdown of the country. During this time, consumers were only allowed to travel to shop for essentials such as groceries.
COVID-19 country impact
Malaysian borders were closed to foreigners on 17 March 2020. The Malaysia Movement Control Order (MCO) started on 18 March and included measures such as limited operating hours for grocery retailers of 08.
Company response
International luxury houses continue to dominate luxury goods sales in Malaysia, with leading players including LVMH Moët Hennessy Louis Vuitton, Kering, Richemont and Burberry Group in personal luxury, Mercedes-Benz and BMW in luxury cars, and Shangri-La International Hotel Management and Marriott International in experiential luxury. However, luxury goods in Malaysia is a highly-fragmented industry, with a large number of multinational players aggressively competing against each other.
Retailing shift
Since store-based retailers faced closures for a couple months in 2020 followed by limits in terms of customer capacity, many luxury goods players turned to e-commerce platforms to capture consumers. Within online channels, players added new features to entice consumers.
What next for luxury goods?
While overall, luxury goods is set to return to moderate but positive growth in 2021, recovery will vary based on products. A slower recovery is expected for high priced luxury goods such as luxury fine jewellery, and luxury timepieces.
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Overview
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Overview
Discover the latest market trends and uncover sources of future market growth for the Luxury Goods industry in Malaysia with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Luxury Goods industry in Malaysia, our research will save you time and money while empowering you to make informed, profitable decisions.
The Luxury Goods in Malaysia market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
- What is the market size of Luxury Goods in Malaysia?
- What are the major brands in Malaysia?
- How dynamic is the growth of Luxury Goods internet sales?
- What is driving growth?
Why buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply function
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Request more informationTable of Contents
Luxury Goods in Malaysia
EXECUTIVE SUMMARY
COVID-19 impact on luxury goods
COVID-19 country impact
Company response
Retailing shift
What next for luxury goods?
MARKET INDICATORS
Table 1 Number of High Net Worth Individuals (HNWI): 2015-2020MARKET DATA
Table 2 Sales of Luxury Goods by Category: Value 2015-2020Table 3 Sales of Luxury Goods by Category: % Value Growth 2015-2020
Table 4 Inbound Receipts for Luxury Goods by Country of Origin: Value 2015-2020
Table 5 NBO Company Shares of Luxury Goods: % Value 2015-2019
Table 6 LBN Brand Shares of Luxury Goods: % Value 2016-2019
Table 7 Distribution of Luxury Goods by Format and Category: % Value 2020
Table 8 Forecast Sales of Luxury Goods by Category: Value 2020-2025
Table 9 Forecast Sales of Luxury Goods by Category: % Value Growth 2020-2025
DISCLAIMER
GLOBAL MACROECONOMIC ENVIRONMENT
GLOBAL INDUSTRY ENVIRONMENT
SOURCES
Summary 1 Research SourcesExperiential Luxury in Malaysia
KEY DATA FINDINGS
2020 IMPACT
Mandated border closures dampen growth in 2020
Country lockdown further dampened growth in 2020
Leading brands attempt to entice consumers with promotional campaigns
RECOVERY AND OPPORTUNITIES
Recovery of experiential luxury in the forecast period will be slow
Players expected to delay openings of experiential luxury outlets such as luxury hotels
Economic fallout of COVID-19 will further delay the recovery
CATEGORY DATA
Table 10 Sales of Experiential Luxury by Category: Value 2015-2020Table 11 Sales of Experiential Luxury by Category: % Value Growth 2015-2020
Table 12 NBO Company Shares of Experiential Luxury: % Value 2015-2019
Table 13 LBN Brand Shares of Experiential Luxury: % Value 2016-2019
Table 14 Forecast Sales of Experiential Luxury by Category: Value 2020-2025
Table 15 Forecast Sales of Experiential Luxury by Category: % Value Growth 2020-2025
Luxury Hotels in Malaysia
KEY DATA FINDINGS
2020 IMPACT
Luxury hotels struggle under Malaysian lockdown in 2020
Luxury hotel players turn to promotional packages to entice consumers during reopening
2020 will be a lacklustre year for luxury hotels
RECOVERY AND OPPORTUNITIES
Slow recovery for luxury hotels in the forecast period due to dismal inbound tourism prospects
More affordable hotels will post stiff competition to luxury hotels in forecast period
Demand will stem from domestic tourism hotspots
CATEGORY DATA
Table 16 Sales in Luxury Hotels: Value 2015-2020Table 17 Sales in Luxury Hotels: % Value Growth 2015-2020
Table 18 Sales in Luxury Hotels by Country of Origin: % Value 2015-2020
Table 19 NBO Company Shares in Luxury Hotels: % Value 2015-2019
Table 20 LBN Brand Shares in Luxury Hotels: % Value 2016-2019
Table 21 Forecast Sales in Luxury Hotels: Value 2020-2025
Table 22 Forecast Sales in Luxury Hotels: % Value Growth 2020-2025
Fine Wines/Champagne and Spirits in Malaysia
KEY DATA FINDINGS
2020 IMPACT
Lockdown measures curb demand for fine wines/champagne and spirits in 2020
Players launch special initiatives to stimulate demand
Online channels provide a way around movement restrictions
RECOVERY AND OPPORTUNITIES
Luxury spirits on track to post a quicker recovery in the forecast period
Resumed restaurant and bar operations will support growth
E-commerce will continue gaining importance
CATEGORY DATA
Table 23 Sales of Fine Wines/Champagne and Spirits by Category: Value 2015-2020Table 24 Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2015-2020
Table 25 NBO Company Shares of Fine Wines/Champagne and Spirits: % Value 2015-2019
Table 26 LBN Brand Shares of Fine Wines/Champagne and Spirits: % Value 2016-2019
Table 27 Distribution of Fine Wines/Champagne and Spirits by Format: % Value 2015-2020
Table 28 Forecast Sales of Fine Wines/Champagne and Spirits by Category: Value 2020-2025
Table 29 Forecast Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2020-2025
Premium and Luxury Cars in Malaysia
KEY DATA FINDINGS
2020 IMPACT
Demand for luxury cars is expected to rebound quickly in the second half of 2020
COVID-19 has forced many brands to focus on delivery services
Innovative financing offers help attract consumers
RECOVERY AND OPPORTUNITIES
Rising environmental consciousness will fuel recovery and demand for hybrid models in the forecast period
SUVs will continue to see booming demand
Partnerships with authorised car dealers will continue
CATEGORY DATA
Table 30 Sales of Premium and Luxury Cars: Value 2015-2020Table 31 Sales of Premium and Luxury Cars: % Value Growth 2015-2020
Table 32 NBO Company Shares of Premium and Luxury Cars: % Value 2015-2019
Table 33 LBN Brand Shares of Premium and Luxury Cars: % Value 2016-2019
Table 34 Forecast Sales of Premium and Luxury Cars: Value 2020-2025
Table 35 Forecast Sales of Premium and Luxury Cars: % Value Growth 2020-2025
Personal Luxury in Malaysia
KEY DATA FINDINGS
2020 IMPACT
Personal luxury endures a negative effect from COVID-19 in 2020
Players engage in various marketing strategies amidst the pandemic
Online expansion became critical in 2020
RECOVERY AND OPPORTUNITIES
Recovery in the forecast period will vary based on demand
Discounts likely to continue in the forecast period
Players will continue turning to e-commerce
CATEGORY DATA
Table 36 Sales of Personal Luxury by Category: Value 2015-2020Table 37 Sales of Personal Luxury by Category: % Value Growth 2015-2020
Table 38 NBO Company Shares of Personal Luxury: % Value 2015-2019
Table 39 LBN Brand Shares of Personal Luxury: % Value 2016-2019
Table 40 Distribution of Personal Luxury by Format: % Value 2015-2020
Table 41 Forecast Sales of Personal Luxury by Category: Value 2020-2025
Table 42 Forecast Sales of Personal Luxury by Category: % Value Growth 2020-2025
Designer Apparel and Footwear (Ready-To-Wear) in Malaysia
KEY DATA FINDINGS
2020 IMPACT
Demand lowered amidst the pandemic in 2020
Players engage in marketing strategies to stimulate sales
Online presence becomes increasingly important
RECOVERY AND OPPORTUNITIES
Slow recovery anticipated due to difficulties with international travel in the beginning of the forecast period
Players will continue engaging in discounts to entice consumers
Growing numbers of e-commerce channels expected
CATEGORY DATA
Table 43 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2015-2020Table 44 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: % Value Growth 2015-2020
Table 45 NBO Company Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2015-2019
Table 46 LBN Brand Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2016-2019
Table 47 Distribution of Designer Apparel and Footwear (Ready-to-Wear) by Format: % Value 2015-2020
Table 48 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2020-2025
Table 49 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: % Value Growth 2020-2025
Luxury Eyewear in Malaysia
KEY DATA FINDINGS
2020 IMPACT
Movement restrictions hurt luxury eyewear sales in 2020
Travel restrictions further restricted demand
Retailers and players respond to COVID-19
RECOVERY AND OPPORTUNITIES
Entry-level pricing will support a swifter recovery of luxury eyewear
Gloomy economic recovery may limit sales
E-commerce will strengthen
CATEGORY DATA
Table 50 Sales of Luxury Eyewear by Category: Value 2015-2020Table 51 Sales of Luxury Eyewear by Category: % Value Growth 2015-2020
Table 52 NBO Company Shares of Luxury Eyewear: % Value 2015-2019
Table 53 LBN Brand Shares of Luxury Eyewear: % Value 2016-2019
Table 54 Distribution of Luxury Eyewear by Format: % Value 2015-2020
Table 55 Forecast Sales of Luxury Eyewear by Category: Value 2020-2025
Table 56 Forecast Sales of Luxury Eyewear by Category: % Value Growth 2020-2025
Luxury Jewellery in Malaysia
KEY DATA FINDINGS
2020 IMPACT
COVID-19 and related restrictions slow growth in luxury jewellery in 2020
Different strategies enacted in response to the pandemic
Online presence becomes especially important for entry-level brands
RECOVERY AND OPPORTUNITIES
Women’s luxury fine jewellery will drive recovery in the forecast period
Strong marketing will drive sales
Players will continue with online expansions
CATEGORY DATA
Table 57 Sales of Luxury Jewellery by Category: Value 2015-2020Table 58 Sales of Luxury Jewellery by Category: % Value Growth 2015-2020
Table 59 NBO Company Shares of Luxury Jewellery: % Value 2015-2019
Table 60 LBN Brand Shares of Luxury Jewellery: % Value 2016-2019
Table 61 Distribution of Luxury Jewellery by Format: % Value 2015-2020
Table 62 Forecast Sales of Luxury Jewellery by Category: Value 2020-2025
Table 63 Forecast Sales of Luxury Jewellery by Category: % Value Growth 2020-2025
Luxury Leather Goods in Malaysia
KEY DATA FINDINGS
2020 IMPACT
Demand slows amidst the global pandemic in 2020
Online distribution channels become especially significant
Players use price reductions to attract consumers
RECOVERY AND OPPORTUNITIES
Women’s luxury bags and small leather goods set to post quicker recovery
Luxury travel goods will struggle to recover
E-commerce will continue to gain importance
CATEGORY DATA
Table 64 Sales of Luxury Leather Goods: Value 2015-2020Table 65 Sales of Luxury Leather Goods: % Value Growth 2015-2020
Table 66 NBO Company Shares of Luxury Leather Goods: % Value 2015-2019
Table 67 LBN Brand Shares of Luxury Leather Goods: % Value 2016-2019
Table 68 Distribution of Luxury Leather Goods by Format: % Value 2015-2020
Table 69 Forecast Sales of Luxury Leather Goods: Value 2020-2025
Table 70 Forecast Sales of Luxury Leather Goods: % Value Growth 2020-2025
Luxury Portable Consumer Electronics in Malaysia
KEY DATA FINDINGS
2020 IMPACT
Loss of international tourists hurts sales in 2020
Online shopping mitigates negative effects from border closures and movement restrictions
Minimal new launches seen in 2020 due to economic uncertainty
RECOVERY AND OPPORTUNITIES
Swift recovery expected in the forecast period
Online presence will continue to gain importance
Physical outlets will attract consumers once the pandemic is stabilised
CATEGORY DATA
Table 71 Sales of Luxury Portable Consumer Electronics by Category: Value 2015-2020Table 72 Sales of Luxury Portable Consumer Electronics by Category: % Value Growth 2015-2020
Table 73 NBO Company Shares of Luxury Portable Consumer Electronics: % Value 2015-2019
Table 74 LBN Brand Shares of Luxury Portable Consumer Electronics: % Value 2016-2019
Table 75 Distribution of Luxury Portable Consumer Electronics by Format: % Value 2015-2020
Table 76 Forecast Sales of Luxury Portable Consumer Electronics by Category: Value 2020-2025
Table 77 Forecast Sales of Luxury Portable Consumer Electronics by Category: % Value Growth 2020-2025
Luxury Timepieces in Malaysia
KEY DATA FINDINGS
2020 IMPACT
Sales drop amidst the COVID-19 pandemic in 2020
Proactive approach taken towards the pandemic by retailers
Readily available alternatives hurt sales in 2020
RECOVERY AND OPPORTUNITIES
The forecast period is set to see a slow recovery
Online platforms will become increasingly important
Players will continue to make efforts to ease the purchasing process
CATEGORY DATA
Table 78 Sales of Luxury Timepieces by Category: Value 2015-2020Table 79 Sales of Luxury Timepieces by Category: % Value Growth 2015-2020
Table 80 NBO Company Shares of Luxury Timepieces: % Value 2015-2019
Table 81 LBN Brand Shares of Luxury Timepieces: % Value 2016-2019
Table 82 Distribution of Luxury Timepieces by Format: % Value 2015-2020
Table 83 Forecast Sales of Luxury Timepieces by Category: Value 2020-2025
Table 84 Forecast Sales of Luxury Timepieces by Category: % Value Growth 2020-2025
Luxury Writing Instruments and Stationery in Malaysia
KEY DATA FINDINGS
2020 IMPACT
Country lockdown inhibits sales in 2020
Demand notably shrinks in 2020 due to COVID-19
Trading down further limits sales
RECOVERY AND OPPORTUNITIES
Slow recovery expected in the forecast period
Promotional strategies will remain crucial
Online players will continue emerging
CATEGORY DATA
Table 85 Sales of Luxury Writing Instruments and Stationery: Value 2015-2020Table 86 Sales of Luxury Writing Instruments and Stationery: % Value Growth 2015-2020
Table 87 NBO Company Shares of Luxury Writing Instruments and Stationery: % Value 2015-2019
Table 88 LBN Brand Shares of Luxury Writing Instruments and Stationery: % Value 2016-2019
Table 89 Distribution of Luxury Writing Instruments and Stationery by Format: % Value 2015-2020
Table 90 Forecast Sales of Luxury Writing Instruments and Stationery: Value 2020-2025
Table 91 Forecast Sales of Luxury Writing Instruments and Stationery: % Value Growth 2020-2025
Super Premium Beauty and Personal Care in Malaysia
KEY DATA FINDINGS
2020 IMPACT
Performance was negatively affected by COVID-19 in 2020
External factors further limit demand
Engagement through online platforms becomes essential
RECOVERY AND OPPORTUNITIES
Recovery speed will vary in the forecast period
E-commerce will continue gaining importance
New product launches will revive demand
CATEGORY DATA
Table 92 Sales of Super Premium Beauty and Personal Care by Category: Value 2015-2020Table 93 Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2015-2020
Table 94 NBO Company Shares of Super Premium Beauty and Personal Care: % Value 2015-2019
Table 95 LBN Brand Shares of Super Premium Beauty and Personal Care: % Value 2016-2019
Table 96 Distribution of Super Premium Beauty and Personal Care by Format: % Value 2015-2020
Table 97 Forecast Sales of Super Premium Beauty and Personal Care by Category: Value 2020-2025
Table 98 Forecast Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2020-2025
Why buy this report?
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
Want to find out more about this report?
Request more informationComplete Catalogue
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Company Reports
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- Burberry Group Plc in Luxury Goods | Jul 2018
- Coach Inc in Luxury Goods | Mar 2015
- Compagnie Financière Richemont SA in Luxury Goods | May 2014
- Fifth & Pacific Companies Inc in Luxury Goods | Jul 2014
- Gucci Group NV in Luxury Goods | Nov 2010
- Hermès International SCA in Luxury Goods | Mar 2016
- Kering SA in Luxury Goods | Jan 2016
- LVMH Moët Hennessy Louis Vuitton SA in Luxury Goods | Mar 2018
- Moncler SpA in Luxury Goods | Jun 2014
- Polo Ralph Lauren Corp in Luxury Goods | May 2013
- PPR SA in Luxury Goods | Jun 2013
- Prada SpA in Luxury Goods | Mar 2016
- Ralph Lauren Corp in Luxury Goods | Jul 2019
- Richemont SA, Cie Financière in Luxury Goods | Mar 2015
- Salvatore Ferragamo SpA in Luxury Goods | Oct 2019
- Swatch Group Ltd, The in Luxury Goods | Jan 2011
- Tiffany & Co in Luxury Goods | Jun 2013
- Tory Burch Llc in Luxury Goods | Jun 2014
- Valentino Fashion Group SpA in Luxury Goods | Jan 2011
Complete Catalogue
Country Reports
- Luxury Goods in Argentina | Jan 2021
- Luxury Goods in Australia | Jan 2021
- Luxury Goods in Brazil | Jan 2021
- Luxury Goods in Canada | Jan 2021
- Luxury Goods in China | Jan 2021
- Luxury Goods in France | Jan 2021
- Luxury Goods in Germany | Jan 2021
- Luxury Goods in Hong Kong, China | Jan 2021
- Luxury Goods in India | Feb 2021
- Luxury Goods in Indonesia | Jan 2021
- Luxury Goods in Italy | Jan 2021
- Luxury Goods in Japan | Jan 2021
- Luxury Goods in Mexico | Jan 2021
- Luxury Goods in Poland | Jan 2021
- Luxury Goods in Romania | Jan 2021
- Luxury Goods in Russia | Jan 2021
- Luxury Goods in Singapore | Jan 2021
- Luxury Goods in South Africa | Feb 2020
- Luxury Goods in South Korea | Jan 2021
- Luxury Goods in Spain | Jan 2021
- Luxury Goods in Sweden | Jan 2021
- Luxury Goods in Switzerland | Jan 2021
- Luxury Goods in Taiwan | Jan 2021
- Luxury Goods in Thailand | Jan 2021
- Luxury Goods in the Netherlands | Jan 2021
- Luxury Goods in the Philippines | Jan 2021
- Luxury Goods in the United Arab Emirates | Jan 2021
- Luxury Goods in the United Kingdom | Jan 2021
- Luxury Goods in the US | Jan 2021
- Luxury Goods in Turkey | Jan 2021
- Luxury Goods in Ukraine | Jan 2021
Strategy Reports
Company Reports
- Bulgari SpA in Luxury Goods | Jan 2011
- Burberry Group Plc in Luxury Goods | Jul 2018
- Coach Inc in Luxury Goods | Mar 2015
- Compagnie Financière Richemont SA in Luxury Goods | May 2014
- Fifth & Pacific Companies Inc in Luxury Goods | Jul 2014
- Gucci Group NV in Luxury Goods | Nov 2010
- Hermès International SCA in Luxury Goods | Mar 2016
- Kering SA in Luxury Goods | Jan 2016
- LVMH Moët Hennessy Louis Vuitton SA in Luxury Goods | Mar 2018
- Moncler SpA in Luxury Goods | Jun 2014
- Polo Ralph Lauren Corp in Luxury Goods | May 2013
- PPR SA in Luxury Goods | Jun 2013
- Prada SpA in Luxury Goods | Mar 2016
- Ralph Lauren Corp in Luxury Goods | Jul 2019
- Richemont SA, Cie Financière in Luxury Goods | Mar 2015
- Salvatore Ferragamo SpA in Luxury Goods | Oct 2019
- Swatch Group Ltd, The in Luxury Goods | Jan 2011
- Tiffany & Co in Luxury Goods | Jun 2013
- Tory Burch Llc in Luxury Goods | Jun 2014
- Valentino Fashion Group SpA in Luxury Goods | Jan 2011