Market Share of Thailand Luxury Goods Industry
The Thailand luxury goods market is highly competitive with the presence of various companies. Some of the major players in the market are LVMH Moët Hennessy, Chanel SA, Hermès International SA, and Kering SA. Emphasis is given to the merger, expansion, acquisition, and partnerships of the companies along with the new product development as a strategy adopted by the leading companies to boost their brand presence among consumers. In October 2019, Louis Vuitton Thailand, the renowned fashion house, launched its maiden store in Phuket. The new store is located in the Central Phuket mall which is characterized by its distinctive interiors - a perfect mix of local elements and international spirit. Players in the market are diversifying their products and expanding their distribution circles, and they are experimenting and advertising through online channels to acquire a competitive edge in the market.
Thailand Luxury Goods Market Leaders
Moet Hennessy Louis Vuitton (LVMH)
Hermes International SA
Chanel SA
The Swatch Group Ltd
Kering SA
*Disclaimer: Major Players sorted in no particular order
