While we all recognize luxury, definitions are hard to agree on. Some define luxury by a list of attributes, others by price, and still others by exclusivity of distribution. The issue has become more complex as corporations took ownership of many luxury brands, and as lower price points and broader distribution put ownership of many luxury items into the hands of the masses.
This report frames its discussion around Euromonitor’s definition of luxury goods products, which includes aspirational or premium brands as well as traditional ultra-luxury. (Please refer to the “Study methodology” section for more details). It focuses on four broad categories of luxury goods: designer apparel (ready-to-wear), handbags and accessories, fine jewelry and watches, and cosmetics and fragrances.
It excludes the luxury categories of automobiles, travel and leisure services, boating and yachts, fine art and collectables, and fine wines and spirits.
The report also provides an outlook for the global economy, an analysis of market capitalization in the industry, an overview of M&A activity in the luxury goods sector, a discussion of major trends affecting luxury goods companies, and a look at the, retail and e-commerce operations of the largest 75 luxury goods companies.
Source : Deloitte