Key findings from Deloitte’s luxury goods report

Key findings from Deloitte’s luxury goods report

Deloitte’s have recently released their ‘Global Powers of Luxury Goods’ report and it makes interesting reading. The report looks at the 100 largest luxury companies across the world and looks at the revenue they’re generating and what the key trends are for the worldwide luxury market. Here are some of the key findings from the report:

  • The world’s 100 largest luxury goods companies generated sales of $212 billion dollars in 2015 financial year.
  • The average luxury goods sales for a top 100 company is around $2.1 billion.
  • Emerging markets such as China, Russia and the UAE are driving the most growth, with the percentage of consumers claiming to have increased their spending at 70%
  • Around 50% of luxury purchases are made by consumers who are travelling, spending in another destination or at the airport.
  • Italy is rated as the leading luxury goods country in terms of number of companies.
  • France is rated the leading country in terms of share of sales
  • Luxury bags and accessories is the fastest growth sector

Interestingly, luxury goods sales growth appears to be accelerated by currency volatility with sales from the top 100 companies growing by more than three percentage points in the 2015 financial year. Many currencies have weakened significantly against the US dollar, which has benefited many multinational luxury companies based in other regions who experienced favourable currency effects, driving up the volume of sales.