The global luxury goods market is set to expand from $465.98 Mn in 2025 to $642.65 Mn by 2032 at a CAGR of 4.1%. This growth is attributed to the evolving preferences of entry-level luxury consumers who now prioritize sustainability and experiential value. Key drivers include increased tourism expenditure, digital platform integration, and celebrity endorsements enhancing brand visibility. The offline segment continues to dominate sales, but e-commerce is growing significantly. Emerging markets like India and China also show robust potential. Companies like LVMH and Hermès are leveraging these trends, as the industry’s focus shifts to adaptable branding and innovative customer engagement.
References:
- https://www.monaco.edu/en/monaco-symposium-of-luxury-2025/
- https://www.theartnewspaper.com
- https://luxus-plus.com/en/chronicle-luxury-and-globalization-the-hr-challenges-of-an-industry-with-multiple-identities/
- https://www.summitpartners.com/news
- https://www.streetinsider.com/Evertise+Financial/Luxury+Goods+Market+Expected+To+Reach+USD+642.65+Mn+by+2032,+grow+at+a+4.1+%25+CAGR+from+2025+to+2032/24557652.html
- https://economictimes.com/magazines/luxury/the-new-luxury-travel-trend/articleshow/119639393.cms
- https://www.luxurydaily.com
- https://www.propublica.org
- https://misstweed.com/articles/luxury-at-the-summit-2025
- https://www.bizjournals.com
