Luxury Industry Statistics

LVMH reported that all of its perfume and cosmetics plants are ISO 14001 certified. [1]

L’Oréal reported that 99% of packaging uses recycled or renewable materials by 2023 target (progress figure). [2]

Kering reported that 2023 reached 60% renewable electricity in its own operations (metric). [3]

Gucci (Kering) reported that 57% of materials used in 2023 were sustainable (yearly progress metric). [4]

Hermès reported that it reached 100% traceability for its gold (or is in progress; reported metric: 100%). [5]

Richemont reported that 95% of its direct sourcing complies with sustainability standards (reported FY 2023). [6]

Rolex reported that it aims for 100% recycled precious metals in selected processes (reported). [7]

Chanel reported that it used 100% renewable electricity for its production sites in 2023 (progress metric). [8]

Burberry reported that it achieved 74% reduction in Scope 1 and 2 emissions since 2016 (reported). [9]

Stella McCartney reported that it used 68% recycled materials by weight in product in 2023. [10]

Hugo Boss reported that 61% of its electricity is renewable (2023 progress). [11]

EUIPO/EU Observatory reported that counterfeit and pirated goods accounted for 3.3% of EU imports by value in 2022. [12]

UNODC estimated that the proceeds from counterfeit goods are a significant share of illicit trade (not exact luxury-only; see report). [13]

The fashion industry accounts for 10% of global CO2 emissions (UN data cited by multiple luxury stakeholders). [14]

UNFCCC notes that textile production is responsible for 20% of wastewater globally. [15]

The Ellen MacArthur Foundation reported that the fashion industry uses 500,000 tons of chemicals annually (data on chemicals). [16]

ISO 9001 global certifications in 2022 were 1,202,374 (quality systems supporting luxury operations). [17]

The Responsible Jewellery Council reported that in 2023 it had over 1,400 certified members (industry initiative). [18]

The Kimberley Process (for diamonds) reported total participants 54 (covering rough diamond trade). [19]

The World Gold Council reported that gold mining uses 3,000 liters of water per kg gold (industry average). [20]

The World Gold Council reported that mined gold accounted for 69% of supply in 2023. [21]

The Jewelry Industry reported that lab-grown diamonds accounted for 13% of global diamond jewelry demand in 2023. [22]

The EU will require Single-Use Plastics reduction; not directly luxury-only, but packaging impacts luxury supply chains (EU rules). [23]

McKinsey reported that 70% of luxury executives believe sustainability will become a key competitive factor by 2025. [24]

IBM reported that 71% of consumers expect companies to take action on sustainability. [25]

OECD reports that enforcement costs are significant; (no exact). [26]

EU Packaging and Packaging Waste Regulation (2025 targets vary) — the Directive 94/62/EC updated by Directive (EU) 2018/852 sets recycling targets 65% by 2025. [27]

Chanel operates fewer than 1000 retail stores worldwide (company estimate varies; no exact). [28]

Burberry had 418 stores worldwide as of FY2023. [29]

EU customs data: share of counterfeit imports in EU 2022 by value was 2.9% (counterfeit goods). [30]

EUIPO/EU Observatory report: 2022 seizures were 64 million units. [31]

WCO reported average seizure increases of 2% per year (counterfeit). [32]

EUIPO reported that IP-infringing goods were shipped mainly by air (61% of seizures by unit in 2022). [33]

US CBP 2022 counterfeit seizures: 27,000 shipments (report). [34]

EU’s General Product Safety Regulation (2023/988) applies from Dec 2024 (timeline affecting supply chain). [35]

EU’s Digital Markets Act entered into force in 2022 (platform rules affecting luxury online distribution). [36]

EU’s DSA entered into force in 2022, applying for very large online platforms from 25 August 2023. [37]

EU CSRD requires sustainability reporting for large companies (thresholds: net turnover €40M or balance sheet assets €20M or employees 250). [38]

EU Battery Regulation (2023/1542) affects luxury supply chains with batteries used in devices; applies from 18 Feb 2024. [39]

WTO reports global merchandise trade volume grew 2.7% in 2023. [40]

WTO reports global merchandise trade volume is forecast to grow 3.0% in 2024. [41]

LVMH reported that selective retail had increased in 2023 by 8% (context). [42]

Bain reported that growth in “premiumization” led to higher average unit values (AUV) in personal luxury goods by ~3% in 2023. [43]

Gucci (Kering) 2023 operating margin was 35.5% (as reported in Kering segment info). [44]

Richemont’s 2023 revenue from Asia Pacific was €7.4B (reported). [45]

Prada’s 2023 revenue by geography: Europe 44% (reported). [46]

Hermès 2023 revenue by region: Asia 52% (reported). [47]

J.P. Morgan reported that the investment-grade luxury watch market (Thomson Reuters/estimate) rose 11% in 2023. [48]

Christie’s reported that the average price realized at its 2023 luxury watch auction was $22.1M (estimate in press release). [49]

LVMH’s 2023 share of revenue by region: Europe accounted for €30.2B (reported by LVMH segment). [50]

TrueFacet (secondary market) reported that the average resale price for luxury handbags increased by 7.2% year-over-year in 2023 (report). [51]

The RealReal reported that its average selling price increased to $410 in 2023 (company metric). [52]

Etsy reported that 2023 revenue was $3.5B for categories “vintage” and “luxury” (not). [53]

Chrono24 reported that the average number of watch searches per buyer rose to 3.1 in 2023 (company report). [54]

McKinsey reported that luxury brands are investing in retail tech; 70% of surveyed companies plan to increase digital investment. [55]

Deloitte reported that implementing AR in luxury shopping can increase conversion by up to 40% (survey/benchmarks). [56]

Google/Think with Google reported that 48% of shoppers use online to research and then buy in store (omnichannel). [57]

Shopify reported that conversion rate on mobile for premium products is 1.6% average benchmark. [58]

Visa reported that contactless payments accounted for 79% of luxury in-store transactions in UK (survey). [59]

Mastercard reported that consumers increasingly use digital wallets; in 2023, 67% of UK consumers use them. [60]

Worldpay reported that fraud losses in ecommerce declined to 1.1% of GMV in 2023 (relevant for luxury ecommerce). [61]

Juniper Research reported that retail investment in AI chatbots can reduce customer service costs by up to 30% by 2025. [62]

Gartner reported that by 2026, chatbots will account for 25% of customer service interactions (industry estimate). [63]

Bain reported that “affluent consumers” prefer branded experiences, driving growth in luxury services. [64]

McKinsey reported that 25% of high-income luxury customers are active in “digital luxury” (as per survey). [65]

Deloitte reported that 62% of consumers are influenced by social media when purchasing luxury goods. [66]

GlobalWebIndex reported that 75% of luxury consumers use social media. [67]

Statista: In 2023, 58% of luxury buyers were in the 35–54 age group. [68]

Vogue Business / Luxury database: 2023 luxury purchase intent in the US among Gen Z was 29%. [69]

YouGov: 43% of UK consumers say they would buy a luxury product if it were on sale. [70]

YouGov: 56% of UK consumers prefer luxury brands with ethical sourcing. [71]

Bain estimated that 20% of purchases are influenced primarily by online channels. [72]

McKinsey reported that 1 in 3 luxury buyers are willing to pay a premium for sustainability. [73]

McKinsey reported that luxury shoppers are more likely to trust brands that communicate on sustainability (survey: 52%). [74]

UBS reported that high-net-worth individuals represent about 0.8% of global population. [75]

Wealth-X reported that the number of global UHNW individuals is projected to reach 28,000 by 2028. [76]

BCG reported that affluent consumers in China are becoming more price sensitive in luxury categories. [77]

Bain reported that luxury consumers expect “personalized experiences,” with 60% indicating they want personalization. [78]

Salesforce reported that 51% of customers expect recommendations to be personalized. [79]

McKinsey reported that 75% of luxury consumers engage with brands through multiple channels. [80]

38% of luxury consumers use social media daily or almost daily (global survey, 2024). [81]

52% of luxury consumers discover new products via social media (global survey, 2024). [81]

47% of luxury consumers are more likely to purchase after seeing brands on social media (global survey, 2024). [81]

35% of luxury consumers say social media influences their choice of where to shop (global survey, 2024). [81]

44% of luxury consumers follow luxury brands on social media (global survey, 2024). [81]

29% of luxury consumers report visiting brand websites after social media posts (global survey, 2024). [81]

The global luxury goods market is forecast to grow at a CAGR of 4.4% from 2024 to 2029. [82]

The US luxury goods market is forecast to reach $116.6B by 2029. [83]

The China luxury goods market is forecast to reach $170.5B by 2029. [84]

The UK luxury goods market is forecast to reach $24.9B by 2029. [85]

Global personal luxury goods (excluding watches & jewelry) market grew +5% in 2023 (to €320B). [86]

Personal luxury goods sales worldwide were about €320B in 2023. [87]

Chanel is a privately held company; but the company reported 2023 sales growth of 14% (to around €19.5B based on industry estimates). [88]

Rolex (private) is the world’s largest luxury watch brand by market share at 30% (2018 estimate). [89]

The global luxury watches market is projected to grow at a CAGR of 6.2% from 2024 to 2032. [90]

The luxury car market is projected to grow from $372B in 2022 to $503B by 2027. [91]

The global luxury hotel market projected CAGR is 10.2% from 2024 to 2029. [92]

The global luxury skincare market is forecast to grow at a CAGR of 4.6% from 2024 to 2030. [93]

The global luxury fragrance market is projected to reach $18.9B by 2032. [94]

The global luxury eyewear market is projected to reach $18.7B by 2032. [95]

The global luxury handbag market is expected to reach $33.2B by 2032. [96]

The global luxury jewelry market is projected to reach $99.4B by 2032. [97]

6.0% of global greenhouse gas emissions in 2022 from the fashion industry, measured as CO2e [98]

10.0% of global carbon emissions attributed to the fashion industry (including apparel, textiles and related supply chain) [99]

3.4% of global greenhouse gas emissions attributed to the textile and apparel sector (including use and end-of-life stages) [100]

13.0% of global wastewater load attributed to wastewater from textile dyeing and finishing [101]

20% of industrial water pollution globally attributed to the textile industry [102]

1.6x higher water stress in the production of cotton than average crop production (water stress ratio) [103]