Luxury Industry Statistics

LVMH reported that certified sustainable sourcing reached 92% of raw materials for key categories in 2023 (reported in sustainability section). [1]

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

Kering reported that 100% of its leather is traceable to suppliers (as of 2023 progress). [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]

LVMH states it has reduced greenhouse gas emissions by 27% since 2018 (Scope 1 and 2). [1]

LVMH reports that 100% of Hennessy’s vineyards are certified under sustainable agriculture approaches (metric reported). [1]

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

Kering reported that it reduced its Group carbon footprint by 16% in 2023 compared with a base year (metric). [3]

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

Burberry reported that 100% of its cotton is responsibly sourced (as reported). [9]

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 92% of raw materials are traceable (metric in sustainability report). [11]

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

The OECD estimated that global trade in counterfeit goods amounted to about $454B in 2019 (large luxury exposure). [12]

EUIPO/EU Observatory reported that counterfeit and pirated goods accounted for 3.3% of EU imports by value in 2022. [13]

UNODC estimated that the proceeds from counterfeit goods are a significant share of illicit trade (not exact luxury-only; see report). [14]

The fashion industry accounts for 10% of global CO2 emissions (UN data cited by multiple luxury stakeholders). [15]

UNFCCC notes that textile production is responsible for 20% of wastewater globally. [16]

The Ellen MacArthur Foundation reported that the fashion industry uses 500,000 tons of chemicals annually (data on chemicals). [17]

ISO 14001 is a common certification standard; ISO reported 2022 global certifications for ISO 14001 were 379,243. [18]

ISO 9001 global certifications in 2022 were 1,202,374 (quality systems supporting luxury operations). [18]

The Responsible Jewellery Council reported that in 2023 it had over 1,400 certified members (industry initiative). [19]

The Kimberley Process (for diamonds) reported total participants 54 (covering rough diamond trade). [20]

The World Gold Council reported that gold mining uses 3,000 liters of water per kg gold (industry average). [21]

The World Gold Council reported that recycling is a key supply source; recycled gold accounted for 31% of supply in 2023. [22]

The World Gold Council reported that mined gold accounted for 69% of supply in 2023. [22]

The Jewelry Industry reported that lab-grown diamonds accounted for 13% of global diamond jewelry demand in 2023. [23]

The EU’s EPR/packaging directive aims for 65% packaging waste recycling by 2025 (policy affecting luxury packaging). [24]

EU Packaging Waste Directive targets 70% recycling by 2030 for packaging waste (EU policy). [24]

The EU will require Single-Use Plastics reduction; not directly luxury-only, but packaging impacts luxury supply chains (EU rules). [25]

McKinsey reported that 70% of luxury executives believe sustainability will become a key competitive factor by 2025. [26]

IBM reported that 57% of consumers are willing to change buying habits to reduce environmental impact. [27]

IBM reported that 71% of consumers expect companies to take action on sustainability. [27]

LVMH’s “Organic growth” in 2023 was +9% (reported in FY 2023 results). [28]

LVMH reported that travel retail revenue in 2023 increased by +20% (reported in FY 2023 results). [28]

Bain reported that personal luxury goods sales in Europe grew 1% in 2023. [29]

Bain reported that sales in the US increased by 1% in 2023. [29]

Bain reported that sales in Greater China decreased by -10% in 2023. [29]

Bain reported that sales in Japan increased by 4% in 2023. [29]

Bain reported that online sales were 8–12% of total personal luxury goods in 2023. [29]

Bain stated that China luxury demand is being led by “modern consumers” shifting to more experiential and value-conscious luxury. [29]

Bain estimated that “millennials and Gen Z” account for about 40% of personal luxury goods consumers. [30]

Bain reported that luxury consumers are increasingly omnichannel, with online channels supporting offline purchase journeys. [30]

McKinsey reported that 25% of high-income luxury customers are active in “digital luxury” (as per survey). [31]

Deloitte reported that 62% of consumers are influenced by social media when purchasing luxury goods. [32]

GlobalWebIndex reported that 75% of luxury consumers use social media. [33]

Statista: 45% of luxury buyers are in the 25–34 age group (survey-based estimate, see Statista). [34]

Statista: In 2023, 58% of luxury buyers were in the 35–54 age group. [34]

Bain reported that “affluent consumers” prefer branded experiences, driving growth in luxury services. [30]

Vogue Business / Luxury database: 2023 luxury purchase intent in the US among Gen Z was 29%. [35]

YouGov: 43% of UK consumers say they would buy a luxury product if it were on sale. [36]

YouGov: 56% of UK consumers prefer luxury brands with ethical sourcing. [37]

Bain reported that new luxury customers are increasingly in Asia and emerging markets. [29]

Bain reported that luxury consumption in China is shifted toward mid-luxury and “aspirational” luxury. [29]

Bain stated that 80% of luxury purchases are still driven offline, despite online growth. [38]

Bain estimated that 20% of purchases are influenced primarily by online channels. [38]

McKinsey reported that 1 in 3 luxury buyers are willing to pay a premium for sustainability. [39]

McKinsey reported that luxury shoppers are more likely to trust brands that communicate on sustainability (survey: 52%). [40]

UBS reported that high-net-worth individuals represent about 0.8% of global population. [41]

Wealth-X reported that the number of global UHNW individuals reached 22,000 in 2023. [42]

Wealth-X reported that the number of global UHNW individuals is projected to reach 28,000 by 2028. [42]

BCG reported that affluent consumers in China are becoming more price sensitive in luxury categories. [43]

Bain reported that luxury consumers expect “personalized experiences,” with 60% indicating they want personalization. [44]

Salesforce reported that 84% of customers say being treated like a person is important when doing business with companies. [45]

Salesforce reported that 51% of customers expect recommendations to be personalized. [45]

McKinsey reported that 75% of luxury consumers engage with brands through multiple channels. [46]

The global luxury goods market was valued at $372.5B in 2023, with a forecast to reach $478.0B by 2029. [47]

The global luxury goods market is forecast to grow at a CAGR of 4.4% from 2024 to 2029. [47]

The US luxury goods market size was estimated at $77.9B in 2022. [48]

The US luxury goods market is forecast to reach $116.6B by 2029. [48]

The China luxury goods market size was estimated at $96.0B in 2022. [49]

The China luxury goods market is forecast to reach $170.5B by 2029. [49]

The UK luxury goods market size was estimated at $18.0B in 2022. [50]

The UK luxury goods market is forecast to reach $24.9B by 2029. [50]

Global personal luxury goods (excluding watches & jewelry) market grew +5% in 2023 (to €320B). [51]

The global market for personal luxury goods is estimated at about €320B in 2023. [29]

Personal luxury goods sales worldwide were about €320B in 2023. [52]

Global personal luxury goods sales are forecast to grow about 4% in 2024. [29]

Bain reports that growth in personal luxury goods has accelerated after 2023, with 2024 expected to reach “mid-single digits.” [29]

Bain expects 2025 growth to remain positive in personal luxury goods (mid-single digits). [29]

LVMH’s 2023 revenue was €86.153B. [28]

LVMH’s 2023 adjusted operating profit was €18.0B. [28]

Kering’s 2023 revenue was €15.9B. [53]

Richemont’s 2023 revenue was €18.2B. [54]

Prada Group’s 2023 net revenues were €4.9B. [55]

Hermès 2023 revenue was €13.5B. [56]

Chanel is a privately held company; but the company reported 2023 sales growth of 14% (to around €19.5B based on industry estimates). [57]

Compagnie Financière Richemont reported that its sales for FY 2023 were €18.2B. [54]

Rolex (private) is the world’s largest luxury watch brand by market share at 30% (2018 estimate). [58]

The global luxury watch market was valued at $21.9B in 2023. [59]

The global luxury watch market is expected to reach $39.9B by 2032. [59]

The global luxury car market was valued at $372B in 2022. [60]

The luxury car market is projected to grow from $372B in 2022 to $503B by 2027. [60]

The global luxury hotel market is projected to reach $239.0B by 2029 (from $141.2B in 2024). [61]

The global luxury hotel market projected CAGR is 10.2% from 2024 to 2029. [61]

The global luxury skincare market was valued at $20.7B in 2023. [62]

The global luxury skincare market is forecast to grow at a CAGR of 4.6% from 2024 to 2030. [62]

The global luxury fragrance market was valued at $14.0B in 2023. [63]

The global luxury fragrance market is projected to reach $18.9B by 2032. [63]

The global luxury eyewear market size was $12.3B in 2023. [64]

The global luxury eyewear market is projected to reach $18.7B by 2032. [64]

The global luxury handbag market size was $19.3B in 2023. [65]

The global luxury handbag market is expected to reach $33.2B by 2032. [65]

The global luxury jewelry market was valued at $64.0B in 2023. [66]

The global luxury jewelry market is projected to reach $99.4B by 2032. [66]

The global luxury watches market is projected to grow at a CAGR of 6.2% from 2024 to 2032. [59]

Richemont operates 14,000 points of sale worldwide for its brands (including affiliates). [54]

LVMH reports having 6,600 stores worldwide for its Maisons (as of 2023). [28]

Kering reports having 1,400+ retail stores worldwide for its brands in 2023. [53]

Chanel operates fewer than 1000 retail stores worldwide (company estimate varies; no exact). [67]

Burberry had 418 stores worldwide as of FY2023. [68]

Prada Group had 739 directly operated stores as of FY2023. [55]

Hermès had 359 stores as of 2023. [56]

Richemont had 3,800 stores (including retail and concessions) as of FY2023 (reported). [54]

LVMH’s retail stores for Fashion & Leather Goods were 2,400+ in 2023. [28]

LVMH’s Perfumes & Cosmetics distribution network includes more than 2,500 stores/shops (reported count). [28]

EU customs data: share of counterfeit imports in EU 2022 by value was 2.9% (counterfeit goods). [69]

EUIPO/EU Observatory report: 2022 seizures were 64 million units. [70]

WCO reported average seizure increases of 2% per year (counterfeit). [71]

EUIPO reported that IP-infringing goods were shipped mainly by air (61% of seizures by unit in 2022). [72]

OECD reports that enforcement costs are significant; (no exact). [12]

US CBP seizures total: 2019 counterfeit seizures were 33,000 shipments (report). [73]

US CBP 2020 counterfeit seizures: 29,000 shipments (report). [73]

US CBP 2021 counterfeit seizures: 28,000 shipments (report). [73]

US CBP 2022 counterfeit seizures: 27,000 shipments (report). [73]

EU’s General Product Safety Regulation (2023/988) applies from Dec 2024 (timeline affecting supply chain). [74]

EU’s Digital Markets Act entered into force in 2022 (platform rules affecting luxury online distribution). [75]

EU’s DSA entered into force in 2022, applying for very large online platforms from 25 August 2023. [76]

EU’s CSRD directive was adopted in 2022 (first reports for FY2024). [77]

EU CSRD requires sustainability reporting for large companies (thresholds: net turnover €40M or balance sheet assets €20M or employees 250). [77]

EU Battery Regulation (2023/1542) affects luxury supply chains with batteries used in devices; applies from 18 Feb 2024. [78]

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. [24]

WTO reports global merchandise trade volume grew 2.7% in 2023. [79]

WTO reports global merchandise trade volume is forecast to grow 3.0% in 2024. [80]

J.P. Morgan reported that the investment-grade luxury watch market (Thomson Reuters/estimate) rose 11% in 2023. [81]

Christie’s reported that the average price realized at its 2023 luxury watch auction was $22.1M (estimate in press release). [82]

Bain reported that price increases in personal luxury goods averaged around 4–5% in 2023. [29]

Bain reported that 2023 pricing in luxury was supported by brand equity and scarcity strategies. [29]

LVMH’s 2023 share of revenue by region: Europe accounted for €30.2B (reported by LVMH segment). [83]

Kering’s 2023 share of revenue by region: Europe €7.9B (reported by Kering). [53]

Richemont’s 2023 revenue from Asia Pacific was €7.4B (reported). [54]

Prada’s 2023 revenue by geography: Europe 44% (reported). [55]

Hermès 2023 revenue by region: Asia 52% (reported). [56]

Gucci (Kering) 2023 operating margin was 35.5% (as reported in Kering segment info). [53]

LVMH reported that online sales were 9% of total revenue in 2023. [28]

LVMH reported that selective retail had increased in 2023 by 8% (context). [28]

TrueFacet (secondary market) reported that the average resale price for luxury handbags increased by 7.2% year-over-year in 2023 (report). [84]

The RealReal reported that its average selling price increased to $410 in 2023 (company metric). [85]

Etsy reported that 2023 revenue was $3.5B for categories “vintage” and “luxury” (not). [86]

Chrono24 reported that the average number of watch searches per buyer rose to 3.1 in 2023 (company report). [87]

Bain reported that growth in “premiumization” led to higher average unit values (AUV) in personal luxury goods by ~3% in 2023. [29]

McKinsey reported that luxury brands are investing in retail tech; 70% of surveyed companies plan to increase digital investment. [88]

Deloitte reported that implementing AR in luxury shopping can increase conversion by up to 40% (survey/benchmarks). [89]

Google/Think with Google reported that 48% of shoppers use online to research and then buy in store (omnichannel). [90]

Shopify reported that conversion rate on mobile for premium products is 1.6% average benchmark. [91]

Visa reported that contactless payments accounted for 79% of luxury in-store transactions in UK (survey). [92]

Mastercard reported that consumers increasingly use digital wallets; in 2023, 67% of UK consumers use them. [93]

Worldpay reported that fraud losses in ecommerce declined to 1.1% of GMV in 2023 (relevant for luxury ecommerce). [94]

Juniper Research reported that retail investment in AI chatbots can reduce customer service costs by up to 30% by 2025. [95]

Gartner reported that by 2026, chatbots will account for 25% of customer service interactions (industry estimate). [96]