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This statistic presents the distribution of the luxury goods market worldwide between 2011 and 2013, by geographic area, and offers forecasts for 2014. In 2014, sales in Europe are expected to represent more than one-third of the global luxury goods market value.

The global luxury goods market

The global luxury market includes the following categories: beverages, fashion, cosmetics, perfumes, watches, jewelry, handbags, and travel bags. This market has been growing for many years. Luxury goods manufacturers meet consumer demand by focusing on brand, aesthetics, material quality, craftsmanship, and price, transforming everyday products into symbols of prestige. The industry evolves according to the gross domestic product (GDP), as demand rises during periods of economic stability and falls when the economic climate is unfavorable. The United States has long been the largest luxury goods market and is expected to maintain its position as the leading personal luxury goods market in 2014, with a value of **** billion U.S. dollars.

LVMH (Louis Vuitton Moet Hennessy) is the world’s leading luxury company. The total revenue of the LVMH group for the 2013 fiscal year amounted to billion U.S. dollars.

New markets or new segments bring growth opportunities to this sector. One of the challenges for companies in the luxury sector is to maintain brand value and nurture customer relationships.