Although sales were hit by the pandemic, the French luxury sector has seen some remarkable recovery since, with plenty more to come. Changing shopper habits and the march of technology are reshaping French luxury.
In this report, we explore how French consumers are avid luxury buyers, outstripping the level of spend across all segments of the sector compared to European averages and only lagging behind US, Chinese and Japanese spenders.
We take an in-depth look at which categories have impacted revenue growth particularly resulting in a huge surge in late 2021, such as luxury eyewear, fashion and leather goods. One of luxury’s newest growth areas, is pre-owned watches which have attracted many buyers looking for not just a nice timepiece, but also an investment.
We examine how luxury has tapped into the consumer desire to be more sustainable, creating new business models that include a thriving second-hand and vintage market driven by younger shoppers attracted to luxury as a green and hip alternative to mainstream fashion.
Find out how Calvin Klein has tipped sales from using social media savvy ambassadors, why Hermès growth has come from Asia, how Pandora’s successful model of low production costs and an efficient supply chain has been influential in its expansion plus why North America has become Vestiaire Collective’s largest market.