Fastest Growing Luxury Brands
To provide case studies on succesful luxury brands, understand the fastest growing luxury brands over the past five years.
- Deloitte's Global Powers of Luxury Goods 2019 report analyzed the top 20 fastest growing luxury brands over a 2-year period from 2015-2017. The top five on the list were Canada Goose Holding with a compound annual growth (CAGR) of 42.6%, Coty Luxury with a CAGR of 32.2%, Furla SpA with a CAGR of 21.5%, Titan Company Limited with a CAGR of 19.7%, and Shiseido Prestige & Fragrance with a CAGR of 19.3% (the list is on page 38). However, only Furla also made the top 20 list from 2017 (2013-2015 data), so these brands are likely NOT the fastest growing for the past 5 years.
- The five fastest growing luxury brands from 2013-2015, as reported in Deloitte's 2017 Luxury Good Report, were Marcolin Group at 43.1% CAGR, Valentino Fashion Group SpA with a CAGR of 37.8%, Pandora A/S at 36.3% CAGR, Gitanjali Gems Ltd. with a CAGR of 30.6%, and Restoque Comercio at 29.1% CAGR. Only Pandora was also on Deloitte's list for 2019.
- In 2018, several of the fastest growing brands were luxury brands, according to Interbrand. Gucci grew by 30%, Louis Vuitton by 23%, Ferrari by 18%, Hermes by 15%, and Dior by 14%.
- Cars were the fastest growing luxury segment in 2017, growing at a rate of 6%. Luxury goods were next with a growth rate of 5%, followed by luxury hospitality with growth of 4% in 2017.
- Millennials and Gen Z accounted for 30% of the luxury industry sales in 2017. However, rather than purchasing these items as status symbols, they tend to make the purchases as a way to express themselves. This means luxury brands will have to redefine how they market their products and services.
- Mindshare North America conducted a survey to determine how luxury shoppers are changing. As a result, they were able to categorize luxury shoppers into 5 segments: Strivers, Only the Best, Comfort First, Aesthetes, and Trendsetters.
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