Personal Luxury in Germany

PROSPECTS

Growth driven by an increasing consumer base and focus on material assets

In 2018, personal luxury in Germany continued to register solid current value growth. First and foremost, this performance was driven by ongoing favourable economic conditions in the country, which have led to strong consumer confidence and rising demand for personal luxury.

Evolving perception of luxury emphasises emotional connection with brands

The growth of personal luxury in Germany will continue to be driven in part by the rising influence of millennials. This has led luxury players to rethink their product portfolios in order to attract this demographic.

New brands and channels to benefit from shifting focus towards experiences

While the growing relevance of younger consumers has provided a strong boost to personal luxury in recent years and will continue to fuel demand over the forecast period, their evolving preferences and perception of luxury are expected to result in a change regarding the brands they buy and the channels in which they shop. This shift in priorities, with experiences coming out on top, means consumers are likely to prefer brands which offer a positive shopping experience and a chance to engage with the brand outside the product purchase itself.

COMPETITIVE LANDSCAPE

Strong position in designer apparel and footwear gives Hugo Boss the lead

In 2017, Hugo Boss remained the leading player in personal luxury. This position can be attributed to it being one of the most famous German fashion brands as well as having a large network of stores and shop-in-shops in the country.

Louis Vuitton maintains its position as the second leading player

Although way behind Hugo Boss in terms of value sales, Louis Vuitton maintained its position as the second largest player in personal luxury, followed by Cartier, which also posted a good performance. Louis Vuitton is one of the most successful luxury players globally and one of the international fashion brands synonymous with luxury.

Files are delivered directly into your account within a few minutes of purchase.