Executive Summary

Feb 2019
Luxury remains resilient amidst political uncertainty

For luxury brands, the onus was on creating “hype” products and campaigns in 2018, whilst expanding their portfolios to incorporate experiential elements in the consumer experience. This was part of a drive to attract the millennial demographic and offset the economic downturn caused by Brexit.

Brexit looms, but millennials prevent gloom

Despite Brexit looming, and the associated political, economic and social uncertainty in the UK, the main story dominating luxury goods is millennials. 2018 saw luxury brands across all categories embrace this demographic, which is the fastest-growing across all consumer industries.

Conspicuous consumption online encourages traditional brands to modernise

The economic instability in the UK leaves little room or opportunity for emerging players, meaning that luxury goods has concentrated further, with the top luxury players continuing to lead across categories. The continued success, growth and visibility of LVMH brands such as Louis Vuitton and Dior means that the French conglomerate remains the major player across many luxury goods categories.

Internet retailing is rapidly becoming a necessity for brands, not a choice

Despite increasing concentration, key players such as LVMH must engage more with the online retail space. In super premium beauty and personal care, online retailing is increasing steadily.

Digitisation paves the road ahead

Luxury goods is the slowest consumer goods industry to transition to the digital world, thanks to the luxury houses’ penchant for tradition and their slower product cycles. However, external environmental and economic factors will force luxury brands to modernise and digitise further during the forecast period.

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Luxury Goods in the United Kingdom

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Overview

Discover the latest market trends and uncover sources of future market growth for the Luxury Goods industry in United Kingdom 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 United Kingdom, our research will save you time and money while empowering you to make informed, profitable decisions.

The Luxury Goods in United Kingdom 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 United Kingdom?
  • What are the major brands in United Kingdom?
  • 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

Luxury Goods in the United Kingdom

EXECUTIVE SUMMARY

Luxury remains resilient amidst political uncertainty
Brexit looms, but millennials prevent gloom
Conspicuous consumption online encourages traditional brands to modernise
Internet retailing is rapidly becoming a necessity for brands, not a choice
Digitisation paves the road ahead

MARKET INDICATORS

Table 1 Number of High Net Worth Individuals (HNWI): 2013-2018

MARKET DATA

Table 2 Sales of Luxury Goods by Category: Value 2013-2018
Table 3 Sales of Luxury Goods by Category: % Value Growth 2013-2018
Table 4 Inbound Receipts for Luxury Goods by Country of Origin: Value 2013-2018
Table 5 NBO Company Shares of Luxury Goods: % Value 2013-2017
Table 6 LBN Brand Shares of Luxury Goods: % Value 2014-2017
Table 7 Distribution of Luxury Goods by Format and Category: % Value 2018
Table 8 Forecast Sales of Luxury Goods by Category: Value 2018-2023
Table 9 Forecast Sales of Luxury Goods by Category: % Value Growth 2018-2023

SOURCES

Summary 1 Research Sources

Designer Apparel and Footwear (Ready-To-Wear) in the United Kingdom

HEADLINES

PROSPECTS

Millennials’ tendency to mix-and-match forces brands to adapt and strategise
Prices are lower than Asia, boosting both domestic and international expenditure
“Champion” products drive sales

COMPETITIVE LANDSCAPE

The casualisation of dress codes
Adapting to consumers’ demand for streetwear
Smaller brands carve out a niche

CATEGORY DATA

Table 10 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2013-2018
Table 11 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: % Value Growth 2013-2018
Table 12 NBO Company Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2013-2017
Table 13 LBN Brand Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2014-2017
Table 14 Distribution of Designer Apparel and Footwear (Ready-to-Wear) by Format: % Value 2013-2018
Table 15 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2018-2023
Table 16 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: % Value Growth 2018-2023

Fine Wines/Champagne and Spirits in the United Kingdom

HEADLINES

PROSPECTS

Consumers face price increases
Luxury spirits maintains good momentum
The renaissance of gin

COMPETITIVE LANDSCAPE

British vineyards see a window of opportunity
Diageo wins on all fronts
The top player Moët Hennessy stalls

CATEGORY DATA

Table 17 Sales of Fine Wines/Champagne and Spirits by Category: Value 2013-2018
Table 18 Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2013-2018
Table 19 NBO Company Shares of Fine Wines/Champagne and Spirits: % Value 2013-2017
Table 20 LBN Brand Shares of Fine Wines/Champagne and Spirits: % Value 2014-2017
Table 21 Distribution of Fine Wines/Champagne and Spirits by Format: % Value 2013-2018
Table 22 Forecast Sales of Fine Wines/Champagne and Spirits by Category: Value 2018-2023
Table 23 Forecast Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2018-2023

Luxury Cars in the United Kingdom

HEADLINES

PROSPECTS

A sluggish performance in 2018
Luxury cars set to outperform amidst the weak UK car market overall
The expanding base of high-net worth individuals will boost demand

COMPETITIVE LANDSCAPE

Tesla outperforms the rest
German manufacturers dominate luxury cars
Leading German manufacturers will move quickly into high-end electric cars

CATEGORY DATA

Table 24 Sales of Luxury Cars: Value 2013-2018
Table 25 Sales of Luxury Cars: % Value Growth 2013-2018
Table 26 NBO Company Shares of Luxury Cars: % Value 2013-2017
Table 27 LBN Brand Shares of Luxury Cars: % Value 2014-2017
Table 28 Forecast Sales of Luxury Cars: Value 2018-2023
Table 29 Forecast Sales of Luxury Cars: % Value Growth 2018-2023

Luxury Eyewear in the United Kingdom

HEADLINES

PROSPECTS

Positive outlook for luxury eyewear in the UK
Healthier lifestyles boost sales
Fashion houses need to make their luxury eyewear “cool”

COMPETITIVE LANDSCAPE

The leading player in the UK is Luxottica Group
New entrants pose a threat to established players
Alternative channels rise and challenge traditional retailers

CATEGORY DATA

Table 30 Sales of Luxury Eyewear by Category: Value 2013-2018
Table 31 Sales of Luxury Eyewear by Category: % Value Growth 2013-2018
Table 32 NBO Company Shares of Luxury Eyewear: % Value 2013-2017
Table 33 LBN Brand Shares of Luxury Eyewear: % Value 2014-2017
Table 34 Distribution of Luxury Eyewear by Format: % Value 2013-2018
Table 35 Forecast Sales of Luxury Eyewear by Category: Value 2018-2023
Table 36 Forecast Sales of Luxury Eyewear by Category: % Value Growth 2018-2023

Luxury Jewellery in the United Kingdom

HEADLINES

PROSPECTS

The weak pound affects luxury jewellery
Tourists and locals boost consumption
Attracting the next generation of consumers

COMPETITIVE LANDSCAPE

Tiffany evolves to stay at the top
Van Cleef & Arpels cultivates premiumisation
Customisation in luxury jewellery

CATEGORY DATA

Table 37 Sales of Luxury Jewellery by Category: Value 2013-2018
Table 38 Sales of Luxury Jewellery by Category: % Value Growth 2013-2018
Table 39 NBO Company Shares of Luxury Jewellery: % Value 2013-2017
Table 40 LBN Brand Shares of Luxury Jewellery: % Value 2014-2017
Table 41 Distribution of Luxury Jewellery by Format: % Value 2013-2018
Table 42 Forecast Sales of Luxury Jewellery by Category: Value 2018-2023
Table 43 Forecast Sales of Luxury Jewellery by Category: % Value Growth 2018-2023

Luxury Leather Goods in the United Kingdom

HEADLINES

PROSPECTS

Luxury leather goods records a strong performance
Luxury style is defined by luxury streetwear
Unisex bags become popular

COMPETITIVE LANDSCAPE

LVMH maintains its lead in a saturated category
Entry barriers drop as niche players answer new demands
Stores get new designs to offer luxury experiences and increase footfall

CATEGORY DATA

Table 44 Sales of Luxury Leather Goods: Value 2013-2018
Table 45 Sales of Luxury Leather Goods: % Value Growth 2013-2018
Table 46 NBO Company Shares of Luxury Leather Goods: % Value 2013-2017
Table 47 LBN Brand Shares of Luxury Leather Goods: % Value 2014-2017
Table 48 Distribution of Luxury Leather Goods by Format: % Value 2013-2018
Table 49 Forecast Sales of Luxury Leather Goods: Value 2018-2023
Table 50 Forecast Sales of Luxury Leather Goods: % Value Growth 2018-2023

Luxury Portable Consumer Electronics in the United Kingdom

HEADLINES

PROSPECTS

Vertu’s demise signals the beginning of the end for luxury mobile phones
Sports continue to influence luxury goods, as luxury wearables rockets
Consumers demand less conspicuous consumption and more convenience

COMPETITIVE LANDSCAPE

Luxury wearables fragments as brands continue to innovate at all price points
Luxury mobile phones struggles as customers eschew bling in favour of function
Accessibility and availability blur the lines between luxury and mass

CATEGORY DATA

Table 51 Sales of Luxury Portable Consumer Electronics by Category: Value 2013-2018
Table 52 Sales of Luxury Portable Consumer Electronics by Category: % Value Growth 2013-2018
Table 53 NBO Company Shares of Luxury Portable Consumer Electronics: % Value 2013-2017
Table 54 LBN Brand Shares of Luxury Portable Consumer Electronics: % Value 2014-2017
Table 55 Distribution of Luxury Portable Consumer Electronics by Format: % Value 2013-2018
Table 56 Forecast Sales of Luxury Portable Consumer Electronics by Category: Value 2018-2023
Table 57 Forecast Sales of Luxury Portable Consumer Electronics by Category: % Value Growth 2018-2023

Luxury Timepieces in the United Kingdom

HEADLINES

PROSPECTS

Currency instability directly impacts sales
Brands benefit from a changing retail landscape
Can smartwatches cannibalise luxury timepieces?

COMPETITIVE LANDSCAPE

Rolex continues to lead, followed by Patek Philippe
The move towards digital
Richemont invests in new forms of retailing

CATEGORY DATA

Table 58 Sales of Luxury Timepieces by Category: Value 2013-2018
Table 59 Sales of Luxury Timepieces by Category: % Value Growth 2013-2018
Table 60 NBO Company Shares of Luxury Timepieces: % Value 2013-2017
Table 61 LBN Brand Shares of Luxury Timepieces: % Value 2014-2017
Table 62 Distribution of Luxury Timepieces by Format: % Value 2013-2018
Table 63 Forecast Sales of Luxury Timepieces by Category: Value 2018-2023
Table 64 Forecast Sales of Luxury Timepieces by Category: % Value Growth 2018-2023

Luxury Writing Instruments and Stationery in the United Kingdom

HEADLINES

PROSPECTS

Demographic shifts in the wider luxury goods market contribute to slowdown
Digitisation negatively affects sales
Traditional brands are forced to innovate

COMPETITIVE LANDSCAPE

Stationery specialists drive sales
Diversification for specialists
Heritage brands with strong histories and identities

CATEGORY DATA

Table 65 Sales of Luxury Writing Instruments and Stationery: Value 2013-2018
Table 66 Sales of Luxury Writing Instruments and Stationery: % Value Growth 2013-2018
Table 67 NBO Company Shares of Luxury Writing Instruments and Stationery: % Value 2013-2017
Table 68 LBN Brand Shares of Luxury Writing Instruments and Stationery: % Value 2014-2017
Table 69 Distribution of Luxury Writing Instruments and Stationery by Format: % Value 2013-2018
Table 70 Forecast Sales of Luxury Writing Instruments and Stationery: Value 2018-2023
Table 71 Forecast Sales of Luxury Writing Instruments and Stationery: % Value Growth 2018-2023

Super Premium Beauty and Personal Care in the United Kingdom

HEADLINES

PROSPECTS

Super premium beauty brands increase their efforts to target millennials
Healthy, natural products drive growth
Disparate growth between categories

COMPETITIVE LANDSCAPE

New entrants break the entry barrier in super premium colour cosmetics
Rising online brands force established players to reconsider their distribution
Fashion houses retain the lead

CATEGORY DATA

Table 72 Sales of Super Premium Beauty and Personal Care by Category: Value 2013-2018
Table 73 Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2013-2018
Table 74 NBO Company Shares of Super Premium Beauty and Personal Care: % Value 2013-2017
Table 75 LBN Brand Shares of Super Premium Beauty and Personal Care: % Value 2014-2017
Table 76 Distribution of Super Premium Beauty and Personal Care by Format: % Value 2013-2018
Table 77 Forecast Sales of Super Premium Beauty and Personal Care by Category: Value 2018-2023
Table 78 Forecast Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2018-2023

Luxury Foodservice in the United Kingdom

HEADLINES

PROSPECTS

Luxury foodservice grows as part of the wider foray into experiential luxury
The entry of new players
Foodservice feeds into the democratisation of luxury

COMPETITIVE LANDSCAPE

Brands embody their identities in foodservice offerings
Haute couture and haute cuisine join forces
The need to embody a brand’s luxury identity and heritage

CATEGORY DATA

Table 79 Sales in Luxury Foodservice: Value 2013-2018
Table 80 Sales in Luxury Foodservice: % Value Growth 2013-2018
Table 81 NBO Company Shares in Luxury Foodservice: % Value 2013-2017
Table 82 LBN Brand Shares in Luxury Foodservice: % Value 2014-2017
Table 83 Forecast Sales in Luxury Foodservice: Value 2018-2023
Table 84 Forecast Sales in Luxury Foodservice: % Value Growth 2018-2023

Luxury Hotels in the United Kingdom

HEADLINES

PROSPECTS

Luxury hotels flourishes
The shift from “owning” to “being”
The importance of digital development

COMPETITIVE LANDSCAPE

Marriott International remains in the lead
The combining of loyalty programmes
The boost provided by the Brexit vote and weaker sterling is starting to slow

CATEGORY DATA

Table 85 Sales in Luxury Hotels: Value 2013-2018
Table 86 Sales in Luxury Hotels: % Value Growth 2013-2018
Table 87 Sales in Luxury Hotels by Country of Origin: % Value 2013-2017
Table 88 NBO Company Shares in Luxury Hotels: % Value 2013-2017
Table 89 LBN Brand Shares in Luxury Hotels: % Value 2014-2017
Table 90 Forecast Sales in Luxury Hotels: Value 2018-2023
Table 91 Forecast Sales in Luxury Hotels: % Value Growth 2018-2023

Personal Luxury in the United Kingdom

HEADLINES

PROSPECTS

The importance of attracting younger consumers
Designer changes help not hinder luxury sales
Brexit woes cause growth to slow, but sales continue to rise

COMPETITIVE LANDSCAPE

The role of the physical store evolves from transactional to experiential
The rise of luxury e-commerce forces traditional brands to modernise
The use of Instagram to attract millennials

CATEGORY DATA

Table 92 Sales of Personal Luxury by Category: Value 2013-2018
Table 93 Sales of Personal Luxury by Category: % Value Growth 2013-2018
Table 94 NBO Company Shares of Personal Luxury: % Value 2013-2017
Table 95 LBN Brand Shares of Personal Luxury: % Value 2014-2017
Table 96 Forecast Sales of Personal Luxury by Category: Value 2018-2023
Table 97 Forecast Sales of Personal Luxury by Category: % Value Growth 2018-2023