The world luxury market, a sector that represents a category of luxury goods that includes not only works of art, valuables and jewels, but also cars, hotels, design productions, agri-food products and much more, is currently recognized and indicated as one of the sectors with the greatest expansion both in terms of turnover and in terms of product turnover.
In 2015, according to a joint report prepared by the Altagamma Foundation and the consulting management firm Bain & Company [1], the world market for luxury goods reached a value of 1,044 billion euro, up 5% on the recorded values in 2014.
Going into the detail of the Personal Luxury Goods market, whose value has been estimated at 253 billion euros, it is noted that Europe, along with the United States, represents the main market for luxury goods, both coming from a share of the About 34% of the global market, despite the rapid and recent growth of China.
In this panorama of the global market, London is, together with Paris, as the European capital of luxury, both representing the third and fourth commercial port in the world for luxury goods, both with an estimated value of about 13 billion euros , exceeded only by New York and Tokyo, respectively with a market value of about 27 and 20 billion euros.
Compared to other countries, however, the United Kingdom stands out for its constant growth rates in the luxury market; in the last year, in fact, the luxury goods market in the UK recorded a growth of 16%, second only to the United States and China, which recorded a growth rate of 19%, unlike many other European countries , of Russia and Hong Kong, which recorded a sharp decline in market values; analysts expect that the United Kingdom will therefore be able to aspire to become, in 2016, the second world market for luxury goods, with a value of over 17 billion euro, of which almost 90% referred to the city of London.
While it may seem quite obvious that London is the main European market for the luxury sector, the central role of Made in Italy production in the dynamics of the luxury market is even more evident: from a Deloitte survey [2], carried out analyzing the The first 100 groups in the sector worldwide, it emerges that the main brands controlled by the Italian groups alone produce about 17% of the worldwide turnover, not to mention that some of the main Italian brands (including Gucci and Bottega Veneta just to mention the main ones) do not fall in the count as controlled by foreign groups; as recognized and underlined by the representatives of Deloitte [3], “Italy is the country from which the largest number of companies comes. Luxury is a market strongly rooted in the Peninsula,
The luxury market, as mentioned, does not refer exclusively to the Personal Luxury Goods, but also to other goods and services considered representative of the luxury category such as cars, production in design and food products, up to the hotel market, cruises, yatches and private jets. shjdjd
All these microsectors are reported at the same in important growth; among them, the important rise of the Luxury Cars market stands out, with a turnover of 8% compared to 2014 and, according to a study by Frost & Sullivan, it will double its volume of business in the next quinqennio, and of the Luxury Hospitality market, also estimated at a real growth of 7% compared to 2014 and anchored to the made in Italy furniture, the last of all the Venetian experience of Stone, a Verona company that at the beginning of April it acquired an important £ 11 million contract to furnish part of an important complex in the heart of London [4].
[1] Bain & Company, Altagamma Foundation, 2015, Altagamma 2015 Worldwide Markets Monitor;
[2] Deloitte, 2015, Global Powers of Luxury Goods;
[3] Patrizia Arienti, president Deloitte & Touch Italia in Deloitte, 2015, Global Powers of Luxury Goods;
[4] Il Sole 24 Ore, Made in Italy furnishes London: the Veronese Stone takes part in the redevelopment of the old Bbc buildings, 6 April 2016;