Fastest growing luxury brands worldwide 2019-2022 | Statista (2024)

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Fastest growing luxury brands worldwide 2019-2022 | Statista? ›

With over $17 billion in brand value as of 2022 and revenues exceeding $15 billion annually, Louis Vuitton sits atop the global luxury industry.

With over $17 billion in brand value as of 2022 and revenues exceeding $15 billion annually, Louis Vuitton sits atop the global luxury industry.

Executive summary. Despite challenging macroeconomic conditions, we estimate the overall luxury market reached €1.5 trillion globally in 2023, a robust 8% to 10% growth over 2022 at current exchange rates (11% to 13% at constant exchange rates), setting a record for the industry and proving its unparalleled resilience.

Hermès, Chanel, and Louis Vuitton are top-performing brands in terms of average resale value, with pieces like the Hermès Constance, Hermès Picotin, Chanel Deauville Tote, and Louis Neverfull retaining an average 127%, 120%, 114%, and 136% value in 2023, respectively.”

From the selected regions, the ranking by revenue in the luxury goods market is forecast to be lead by the United States with 83.3 billion U.S. dollars. In contrast, the ranking is trailed by Germany with 18.5 billion U.S. dollars, recording a difference of 64.8 billion U.S. dollars to the United States.

The United States has long been the largest regional market for luxury goods and it was estimated to continue to be the. LVMH (Louis Vuitton Moet Hennessy) was the most valuable luxury brand in the world, with a brand value of about 130 billion U.S. dollars in 2024.

Over the next decade, younger generations, including Generation Z and Generation Alpha, are set to play a more significant role in luxury spending. Their engagement with luxury goods is expected to grow three times faster than that of other generations, making up about a third of the overall market by 2030.

With 20% of luxury goods sales expected to be made online by 2025, luxury brands are increasingly prioritizing digital transformation. Many fashion houses are embracing cutting-edge technology to enhance their online presence.

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He is the founder, chairman and CEO of LVMH, the world's largest luxury goods company. Arnault is the third richest person in the world, with an estimated net worth of US$194 billion as of July 2024, according to Forbes.

Gucci and Louis Vuitton are the most popular luxury fashion brand in the United States, followed by Chanel and Dior.

In 2024, the Luxury Goods market is projected to generate a revenue of US$368.90bn. This market is anticipated to grow at an annual rate of 3.22% (CAGR 2024-2028).

Recent News. LVMH, multinational conglomerate headquartered in Paris that is the largest luxury goods group in the world. LVMH owns 75 luxury brands, including Louis Vuitton, Christian Dior, and Tiffany & Co.

American retail corporation Walmart has been the world's largest company by revenue since 2014. The list is limited to the largest 50 companies, all of which have annual revenues exceeding US$130 billion.