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The key concept for understanding luxury in marketing is exclusivity. This exclusivity is maintained primarily by a high price, but also by a conscious limitation of sales volumes and points of sale. In the Consumer Market Outlook, luxury products encompass highly exclusive personal items that reflect the taste and status of their owners. They include clothing, footwear and leather accessories, eyewear, watches and jewelry, as well as cosmetics. Data on luxury cars are not presented here but are available in our mobility markets. The market data presented here are based on an analysis of financial reports from 2010 to 2017 of more than 100 companies targeting luxury segments in the specified categories. The most important players are presented within the competitive landscape. A complete list of all covered companies can be found in the methodology description. Small companies (with annual revenues below 150 million U.S. dollars) and artisanal production not affiliated with the covered companies are not included in the data. All data related to market and company shares always refer to retail value (including sales taxes). Licensed brand sales (particularly important in the eyewear and cosmetics segments) are attributed to the license holder. Thus, for example, Hugo Boss perfumes are counted in Coty’s sales to avoid double counting. Since reporting standards vary widely between companies, an array of estimation techniques has been employed to harmonize the reported key performance indicators with the market definitions employed here. Some of the most important indicators used in this process are shown at the bottom of the page. For example, among other indicators, the resident population of High Net Worth Individuals (abbreviated as HNWI, people with investible assets exceeding 1 million U.S. dollars) has been used in combination with travel patterns (almost half of luxury purchases are made while traveling or in travel retail shops) to allocate sales geographically. 2017 witnessed a rebound of the global luxury goods industry after two relatively sluggish years. The outlook on a global scale remains positive, although regionally dimmed somewhat by uncertain economic prospects especially in the European markets as well as political instability in some emerging countries in Latin America, the Middle East and Africa. Greater China has returned to a sustained growth trajectory, which is nevertheless potentially vulnerable to possible shifts in the overall institutional framework. Key trends shaping the industry are a continued emphasis on manufacturer-owned retail, a more pronounced shift of sales from the established core markets in Western Europe, North America and Japan to Greater China and other emerging markets, and a bigger role of the still underdeveloped eCommerce channel. Given that reporting standards vary considerably between companies, a series of estimation techniques has been used to harmonize the reported key performance indicators with the market definitions employed here. Some of the most important indicators used in this process are presented at the bottom of the page. For example, among other indicators, the resident population of High Net Worth Individuals (abbreviated as HNWI, people with investible assets exceeding 1 million U.S. dollars) has been used in combination with travel habits (nearly half of luxury purchases are made while traveling or in travel retail shops) to allocate sales geographically. The year 2017 was marked by a rebound of the global luxury goods industry after two relatively sluggish years. The outlook on a global scale remains positive, although regionally somewhat dimmed by uncertain economic prospects, especially in European markets, as well as political instability in some emerging countries in Latin America, the Middle East, and Africa. Greater China has returned to a sustained growth trajectory, which remains potentially vulnerable to possible changes in the overall institutional framework. The main trends shaping the sector are the continued emphasis on manufacturer-owned retail, a more pronounced shift of sales from the established core markets in Western Europe, North America, and Japan to Greater China and other emerging markets, as well as a more important role of the still underdeveloped eCommerce channel.