Market Size of France Luxury Goods Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.47 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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France Luxury Goods Market Analysis
The France luxury goods market is projected to grow at a CAGR of 6.47 % during the forecast period (2022 - 2027).
The market is characterized by the presence of country-origin luxury brands and their widespread presence across both online and offline channels. Further, France is among the most visited European countries and the favorite destination of Asian tourists, especially for fashion and leisure travel. For instance, Valeria Doustaly and Dione Occhipinti, Paris-based entrepreneurs are organizing fashion-focused Paris trips for international tourists since 2014 as Paris is popular as the world's fashion capital across different continents.
Further, the market is experiencing high demand for sustainable luxury goods as millennial consumers of the country are highly aware of the environmental concerns associated with the apparel manufacturing industry, making sustainability, ethical sourcing, and their related labeling schemes more prominent. As a result key brands are launching new products designed with environment-friendly materials through ethical production methods. For instance, Saint Laurent, recently announced that it will stop using fur with effect from the Fall 2022 collections. Kering, the parent company of the brand, which also owns Botta Veneto, Gucci, Balenciaga, and Alexander McQueen will also be completely fur-free in all its fashion houses.
As more and more customers move online, businesses are following the trend, which led to the gradual development of the digital ecosystem. It has provided easy access to product-related information and prices to the customers. Therefore, the rising number of fashion e-commerce platforms is further boosting the demand for luxury goods in France.
