LVMH, Kering Group, Hermes International and Richemont are the 4 major players in the luxury goods industry
Dallas, Texas (PRWEB) January 13, 2014
This report analyzes the development of the "global luxury goods market", with a focus on some of the major segments including cars, wines and spirits, jewelry and watches. The mature market of Europe along with emerging market of China is being discussed in the report. The major trends, drivers facilitating growth of the luxury goods market as well as the issues being faced by the industry are being presented in this report. The four major players in the luxury goods industry include LVMH, Kering Group, Hermes International and Richemont are being profiled in the report highlighting their key financial and strategies for growth.
Company Profiles covered in this research study are LVMH Moet Hennessy Louis Vuitton, Hermes International SCA, Richemont and Kering.
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Economic growth worldwide, rising income and wealth levels, consumption of luxury goods by middle class population and continuous global urbanization are fueling the development of the global luxury goods market. The growth of the luxury market had a high correlation with macro indicators, such as real GDP, tourist arrivals, wealth, and disposable income. One of the main drivers propelling the growth of this market is the growing global online personal luxury goods market. The emergence of an off-price pricing strategy in the global online luxury goods market is making personal luxury goods accessible to a greater number of individuals since they can compare the prices of different products and make purchases. Further, men are increasing their contribution to this market by making more online purchases.
Luxury goods refer to products which are commonly characterized by their premium quality, craftsmanship, recognizability, exclusivity and reputation. These high-end goods tend to satisfy social-psychological needs in great form and bring esteem to the owner. Fondness for all forms of luxury like fashion products, accessories, bags & cases, cosmetics & fragrances, vehicles, utility gadgets, beverages and interior decoration products, has been seen since many centuries. In economic terms, luxury goods are the ones for which the law of demand is reverse, i.e. the demand for such products increases with price.
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Luxury is usually stratified in three layers viz. Accessible, Aspirational and Absolute. A few other factors which determine the degree of luxury are price, uniqueness, availability, promotion, and brand among others. Moreover, the luxury industry usually covers products like perfumes and cosmetics; hard luxury; cognac; handbags and cases; furniture; vehicles, etc. These products are sold through wholesale, retail or online channel.
By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the industry. We employed various significant variables affecting this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.
Major points from Table of Contents (http://www.marketreportsonline.com/303213-toc.html) are listed below:
1. Market Overview
2. Market Size
3. Market Dynamics
4. Competitive Landscape
5. Company Profiles
6. Market Outlook
List of Tables
List of Charts
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