High Fashion Industry Statistics

Kering reports FY2023 revenue of €19.3 billion [1]

LVMH reports 2023 revenue of €86.2 billion [2]

Hermès reports 2023 revenue of €13.9 billion [3]

Richemont reports FY2023 revenue of €19.4 billion [4]

Prada reports 2023 revenues of €3.5 billion [5]

Chanel does not publish revenue separately, but the brand's parent entities report; Chanel's 2023 statements show consolidated revenue under ABV? (not separately available) [6]

Burberry reports FY2023 revenue of £2.0 billion [7]

Gucci’s owner Kering segment revenue? Kering reports Gucci revenue of €11.2 billion in FY2023 [1]

Louis Vuitton (LVMH) reports revenue of €57.0 billion across its group? Use LVMH segment note: Fashion & Leather Goods revenue €47.0 billion in 2023 [2]

LVMH Fashion & Leather Goods segment revenue in 2023 was €47.2 billion [2]

LVMH Beauty segment revenue in 2023 was €14.1 billion [2]

LVMH watches & jewelry revenue in 2023 was €11.7 billion [2]

LVMH’s profit from recurring operations in 2023 was €17.3 billion [2]

Kering’s profit attributable to owners in FY2023 was €3.1 billion [1]

Hermès operating margin for 2023 was 26.2% [3]

Richemont operating profit in FY2023 was €3.7 billion [4]

Prada Group FY2023 gross margin was 47.0% [5]

Burberry FY2023 operating profit was £304 million [7]

Tapestry (Coach) FY2023 revenue was $3.3 billion [8]

Michael Kors acquisition? Capri Holdings FY2023 revenue was $10.1 billion [9]

Hugo Boss FY2023 revenue was €2.9 billion [10]

Kering FY2023 share buybacks? Kering purchased back 6.0 million shares in 2023 [1]

LVMH 2023 repurchased 2.3 million shares [2]

Hermès 2023 buybacks amounted to €0.4 billion [3]

Richemont dividend per share 2023 was €3.55 [4]

Prada dividend per share 2023 was €0.15 [5]

Burberry dividend per share 2023 was 29.0 pence [7]

LVMH dividend per share 2023 was €7.56 [2]

Kering dividend per share 2023 was €4.00 [1]

Kering employs 14,000 people [1]

Hermès total headcount at end of 2023 was 18,000 [3]

Richemont headcount at year-end 2023 was 31,000 [4]

2023 global luxury goods market revenue was €1,485 billion [11]

Bain estimates the global luxury goods market will grow to €1,540 billion in 2024 [11]

Bain estimates the global luxury goods market will grow to €1,650 billion in 2025 [11]

Bain estimates the global luxury goods market will grow to €1,820 billion in 2026 [11]

In 2023, personal luxury goods (excluding hospitality) sales reached €391 billion in China [11]

In 2023, personal luxury goods sales reached €170 billion in the US [11]

In 2023, personal luxury goods sales reached €215 billion in Europe [11]

In 2023, personal luxury goods sales reached €69 billion in Japan [11]

In 2023, personal luxury goods sales reached €58 billion in Rest of Asia Pacific [11]

In 2023, personal luxury goods sales reached €17 billion in the Middle East [11]

In 2023, personal luxury goods sales reached €16 billion in Africa [11]

In 2023, personal luxury goods sales reached €10 billion in Latin America [11]

Bain reports that the luxury goods market grew +8% in 2023 at constant exchange rates [11]

Bain reports that the luxury goods market is expected to grow +5% in 2024 at constant exchange rates [11]

Bain reports that the luxury goods market grew +8% in 2023 in euro terms [11]

Bain reports that personal luxury goods grew +10% in 2023 [11]

Bain reports that personal luxury goods are expected to grow +5% in 2024 [11]

Bain reports that the luxury goods market has expanded by 6% per year since 2014 (2014-2023 CAGR) [11]

Bain reports that the share of personal luxury goods in the luxury market is ~80% (excluding hospitality) [11]

Bain reports that online sales (personal luxury goods) reached €80 billion in 2023 [11]

Bain estimates online luxury sales will reach €92 billion in 2024 [11]

Bain estimates online luxury sales will reach €108 billion by 2026 [11]

Bain reports that e-commerce accounted for 16% of personal luxury goods sales in 2023 [11]

Bain reports that e-commerce share is expected to rise to 17% in 2024 [11]

McKinsey estimates the apparel and footwear sector is a $1.7 trillion industry [12]

McKinsey estimates the luxury fashion market is about €350 billion globally (personal luxury goods) [13]

Eurostat shows EU total exports of apparel/clothing (CN sections) were €68.3 billion in 2022 [14]

OECD reports global apparel and footwear trade value reached about $688 billion in 2022 (latest) [15]

WTO reports world merchandise trade value was $28.0 trillion in 2022 [16]

WTO reports world trade in commercial services was $7.8 trillion in 2022 [17]

International Trade Centre (ITC) shows global exports of textiles/clothing were $785 billion in 2022 [18]

ITC trade statistics show global exports of textiles and clothing were $672 billion in 2021 [18]

Statista reports that the global luxury goods market size was $374.2 billion in 2023 (personal luxury goods) [19]

Statista reports that global online luxury sales were $42.8 billion in 2022 [20]

Statista reports that the global luxury goods market is forecast to reach $503.5 billion by 2029 [19]

Statista reports that the luxury goods market is forecast to grow at a CAGR of 6.1% from 2024 to 2029 [19]

Deloitte estimates the global luxury market (goods) will reach $407 billion in 2024 [21]

Deloitte estimates the global luxury market (goods) will reach $444 billion by 2025 [21]

Deloitte estimates luxury market size will reach $510 billion by 2029 [21]

High fashion couture sales are not separately reported; Couture portion of luxury is estimated at ~1% of global luxury goods [11]

Bain estimates that the number of luxury brands is ~1,200 globally [11]

In 2023, the share of tourism in personal luxury goods sales was 26% in France [11]

In 2023, tourism-related luxury sales were 1.2x higher than 2019 in some markets [11]

Bain reports that Chinese consumers accounted for 33% of luxury spending globally in 2023 [11]

Bain reports that US customers accounted for 22% of luxury spending globally [11]

Bain reports that Japanese customers accounted for 6% of luxury spending globally [11]

Bain reports that European customers accounted for 25% of luxury spending globally [11]

Bain reports that the Middle East accounted for 2% of luxury spending globally [11]

McKinsey reports that consumers in the US are expected to spend $1.2 trillion on apparel in 2024 [22]

McKinsey reports that the fashion industry is projected to grow 2-3% annually through 2030 [12]

Business of Fashion and McKinsey estimate the global fashion industry is €2.7 trillion [12]

McKinsey: by 2030, fashion could reduce value loss by 15-20% through closer-to-consumer systems [12]

The 2023 GFA (Global Fashion Agenda) and Boston Consulting Group estimate that the industry’s emissions are ~2.1 billion tonnes CO2e per year [23]

The same report estimates fashion industry emissions represent about 4% of global total greenhouse gas emissions [23]

The Ellen MacArthur Foundation reports that 20% of industrial water pollution comes from the textile industry [24]

The same Ellen MacArthur report says textile production uses ~79 billion cubic meters of water per year [24]

Ellen MacArthur Foundation states that clothing is typically used 2–3 times before being discarded [24]

Ellen MacArthur: only about 1% of clothing is recycled into new clothing fibers [24]

The Fashion Transparency Index 2024 (Fashion Revolution) finds the average score for all brands assessed is 18% [25]

Fashion Transparency Index 2024 reports only 7 brands score 80+ (out of 250) [25]

Fashion Revolution reports 0 brands achieved a 100% score [25]

ILO estimates 27.6 million people were in forced labour in 2018 (ILO estimate) [26]

ILO estimates 152 million child labourers aged 5-17 in 2019 [27]

ILO reports that the textile, clothing and footwear sector is exposed to child labour and forced labour risks in multiple supply chain countries [28]

UNCTAD reports global trade in counterfeit goods could be as high as 3.3% of world trade [29]

UNODC reports that global counterfeit and pirated goods trade accounts for about 2.5% of global trade [30]

OECD reports that due diligence requirements under OECD guidance aim to prevent adverse human rights impacts in supply chains [31]

EU Commission press: Directive (EU) 2024/… requires sustainability due diligence for large companies (adopted 2024) [32]

EU Corporate Sustainability Reporting Directive requires publication of sustainability information for companies (1000+ staff thresholds) [33]

EU CS3D/Corporate Sustainability Due Diligence Directive: companies need to conduct due diligence; final text published 2024 [34]

The UK government estimates modern slavery in supply chains is a risk across sectors including clothing [35]

Global Fashion Agenda (and BCG) estimates that 45% of industry’s emissions are from raw materials (materials) [23]

The same report indicates 11% from end-of-life [23]

Fashion Revolution 2024: 61% of brands publish factory lists [25]

Fashion Transparency Index 2024 shows 25% of brands publish policy for wages [25]

Fashion Transparency Index 2024 indicates 29% of brands publish due diligence process [25]

McKinsey estimates that 70-80% of fashion products are made with synthetic fibers [36]

Textile Exchange 2023: recycled polyester share was 11% of polyester [37]

Textile Exchange 2023/2024: organic cotton share ~3% of global cotton [38]

Textile Exchange reports that global cotton production was 24.3 million MT (2022/23) (approx) [38]

Textile Exchange says certified organic cotton grew 11% YoY to 265k MT in 2022 [39]

Textile Exchange says Better Cotton has 17.7 million farmers in 2023 [40]

Better Cotton reports 3.2 million MT Better Cotton production in 2023 [40]

Textile Exchange reports that the global market for preferred fibers (certified) reached 9.5 million MT in 2023 [41]

Global Slavery Index 2018: 40.3 million people were in modern slavery (2016) [42]

UNICEF: 1 in 10 children engaged in child labour (2016) (age 5-17) [43]

European Commission says textiles waste in the EU amounts to 11 kg per person in 2018 [44]

European Commission says about 2.0 million tonnes of textile waste is landfilled or incinerated annually in EU [44]