Market Share of GCC Luxury Goods Industry
The GCC luxury goods market is highly competitive, with global and domestic players. The key players in the market studied are Prada S.p.A., Kering Group, Rolex SA, LVMH Moët Hennessy Louis Vuitton and Capri Holding. However, other players like Chanel, Burberry Group Plc, and others show dominance over the market.
The strategies majorly adopted by the top luxury goods companies across the region include expansion and product innovations. Companies in the market have been competing on different factors, including product offerings, quality, sustainable packaging, marketing, and brand omnichannel activities, to gain a competitive advantage in the market and expand their business. The emergence of e-commerce further contributed to the overall growth of the Gulf Cooperation Council luxury goods market.
GCC Personal Luxury Goods Market Leaders
Prada S.p.A.
Kering Group
LVMH Moët Hennessy Louis Vuitton
Rolex SA
Capri Holdings
*Disclaimer: Major Players sorted in no particular order
