Europe is home to a number of long-standing luxury companies that consumer associate with heritage, quality, elegance, and scarcity. Based on Statista estimations, France is the leading European country with the highest market revenue in the region, with a projected value of around 19 billion U.S. dollars. Overall, the global luxury goods industry, driven by luxury fashion, was estimated to be worth 355 billion U.S. dollars.
Leading European brands
Based on worldwide sales, the top three luxury goods companies in Europe are LVMH Moët Hennessy Louis Vuitton SE (France), Richemont SA (Switzerland), and Kering SA (France). LVHM is responsible for many of the most well-known luxury brands across a range of product categories, including Louis Vuitton, Christian Dior, Givenchy, Marc Jacobs, and Moët & Chandon. As such, the company’s sales clearly exceed that of Richemont and Kering, reaching 86 billion euros in 2023, around 20 billion euros of which was made in Europe. In comparison, sales of the Richemont Group amounted to around 20 billion in the 2023 financial year, with just about 22 percent of this generated in Europe.
European luxury consumers
Studies on luxury purchasing behavior in Europe have shown that a large proportion of consumers still prefer to purchase their luxury items in-store, rather than online. Data also shows clothes and shoes were the most popular luxury and premium goods products European consumers such as those in France and Italy purchased the most.
This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.
FAQs
Some of the most popular brands cheaper in Europe include Chanel, Louis Vuitton, Burberry, Saint Laurent, Gucci, Givenchy, Balmain, Christian Louboutin, Dior, Hermès, Lanvin, Chloé, Céline, and more.
How big is the luxury goods market in Europe? ›
The revenue generated in the Luxury Goods market in Europe amounts to US$115.60bn in 2024.
What are the largest luxury goods companies in Europe? ›
Leading European brands
Based on worldwide sales, the top three luxury goods companies in Europe are LVMH Moët Hennessy Louis Vuitton SE (France), Richemont SA (Switzerland), and Kering SA (France).
In which country are luxury brands the cheapest? ›
Here are the top 10 countries where you can buy top brands at the most competitive prices.
- Italy. Italy is synonymous with luxury fashion, being the birthplace of renowned brands like Gucci, Prada, and Versace. ...
- France. ...
- United States. ...
- United Kingdom. ...
- Spain. ...
- Germany. ...
- Switzerland. ...
- Singapore.
The Big 5 luxury brands – Louis Vuitton, Dior, Chanel, Gucci,and Hermes all have a significant presence on DeWu. Each of the brands have a large array of products listed and available to purchase, and in total generate significant revenue from Grey Market channels.
Are designer bags cheaper in Germany? ›
YES, it is true that branded bags are cheaper in Europe, but not all of them. Buying your luggage in Europe is the ideal method to save money on your next purchase. Luxury brands (particularly Italian and French labels) are less expensive in Europe than in the United States.
What are the big 3 in luxury? ›
The Trinity or 'big three' is a nickname given to the most luxurious watchmaking brands in the world. At the top of their game, the three watchmaking companies are Audemars Piguet, Vacheron Constantin and Patek Philippe.
What is the most valuable brand in Europe? ›
Deutsche Telekom overtakes Mercedes-Benz to become the most valuable European brand.
Who is the king of luxury goods? ›
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.
In what country is Louis Vuitton cheapest? ›
Which country has the cheapest Louis Vuitton? The combination of these factors often makes the price of LV items in France lower than in other countries. While France leads the pack, other European countries such as Italy and the UK also offer competitive prices due to similar VAT refund policies.
With the UK being seen as the cheapest country to buy Gucci, closely followed by its neighbours on the continent of Europe, it is only fair that these bargain prices are available no matter where you live.
What is the most popular luxury brand right now? ›
- Louis Vuitton. Louis Vuitton (LVMH) is not only the world's most valuable luxury brand, but also one of the most recognizable and influential fashion houses ever. ...
- Dior. Christian Dior has defined French elegance and luxury since its founding in 1946. ...
- Gucci. ...
- Chanel. ...
- Rolex. ...
- Hermes. ...
- Cartier. ...
- Ralph Lauren.
Top Selling Products in Europe
- Clothing and Footwear.
- Books.
- Electronics.
- Food, Cosmetics, and Pharmaceuticals.
- Furniture and Home Goods.
Deutsche Telekom overtakes Mercedes-Benz to become the most valuable European brand.
What is luxury brand in Italy? ›
Many of the major Italian fashion brands, such as Valentino, Versace, Prada, Armani, Dolce & Gabbana, Marni, Iceberg, Missoni, Trussardi, Moschino, Dirk Bikkembergs, Etro, and Zegna are currently headquartered in the city.
