Luxury Goods Retailing - Global - August 2011
The luxury goods market is notoriously difficult to put a size to even once a decision has been made about what actually comprises luxury. The likes of Polo Ralph Lauren and Calvin Klein, which by European standards might well be perceived as prestige rather than luxury brands are certainly deemed to be at the luxury end of the spectrum in the US market because it does not have a history of couture. For this reason they are included in Mintel's market size. The mix of channels mentioned above and the way those sales are reported further muddies the waters.
However, Mintel has derived its own global luxury goods market size using a bottom-up analysis of 29 of the top companies operating in the sector (see Global Luxury Goods Market chapter for details of those companies), and we estimate that they account for roughly 80% of the total market. In this report we have published five years of trend data, based on this methodology.
Our market size is designed to provide a useful guide to growth rates and the performance of each company within this framework. In addition we have broken the market size down by region and by major product category over the last five years but again the trends and absolute numbers should be treated as indicative only.
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