Personal Luxury in France

PROSPECTS

The return of wealthy tourists boosts the personal luxury category

After suffering a drop in tourist numbers in the aftermath of the terror attacks, international tourists returned to France; tourism saw a relative recovery in 2017 and there were positive developments in 2018 as well. Asian tourists are especially important to France’s luxury industry because they tend to spend a high share of their travelling budget on shopping.

The quest for millennials through digitalisation and collaboration

Online sales of luxury goods continue to grow steadily, driven by the 18-34-year-old millennials. Hooked to their smartphones and relying on their functional online applications, this generation of consumers sees fewer barriers for buying online products of significant value.

COMPETITIVE LANDSCAPE

LVMH remains world’s number one

LVMH holds the leading value share in designer apparel and footwear (“ready-to-wear”), luxury leather goods, super premium beauty and personal care and luxury portable consumer electronics. It is strong in designer apparel and footwear and leather goods thanks to a strong brand portfolio, including Céline, Kenzo, Fendi, Givenchy, Dior and Louis Vuitton.

Richemont leads in luxury jewellery and timepieces

Thanks to its iconic brand Cartier, Richemont leads luxury jewellery. It also holds a leadership position in luxury timepieces thanks to Cartier and other key brands such as Piaget, Van Cleef & Arpels and Jaeger-LeCoultre.

Kering continues its stellar performance

Kering – formerly known as PPR – achieved nearly three quarters of its 2017 sales in the personal luxury segment, compared to less than 20% 10 years previously, as it has managed an almost complete transformation into a luxury pure player. Its focus on luxury was confirmed with the divestment of activewear brand Puma in early 2018.

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