蘑菇AV

Luxury ecommerce is a tough place to play: That鈥檚 why Cartier owner Richemont is selling Yoox Net-A-Porter to Mytheresa鈥攐ne of the few platforms that has found sustained success.

Chanel purchases Paris property at 42 Avenue Montaigne: The French designer snapped up the building one block from the Champs-脡lys茅es as luxury competitors race to claim prime real estate.

US cross-border buying is dominated by low-cost items from China, though there鈥檚 a small but growing market for high-end goods from overseas. Some 15% of US consumers have made cross-border purchases of luxury goods, per ESW鈥檚 June 2022 survey. High shipping costs and slow delivery are the leading obstacles.

Ralph Lauren鈥檚 growth plans are focused on expanding its women鈥檚 business, including apparel and handbags, as well as broadening its reach in China and India. The context: Personal luxury sales soared in 2021 and 2022 as younger and middle-income consumers splurged on high-end goods.

Is India the next China? Retailers from Apple to Dior to Levi鈥檚 are looking to expand in the world鈥檚 fastest-growing retail market, but success isn鈥檛 guaranteed.

Notably, while the majority of its sales still come from the US, Revolve reported robust Q3 international sales growth of 20% YoY, even in China鈥攁 region that dragged down many luxury players this year.

China takes baby steps to address its consumption problem: Beijing will expand its trade-in program to include consumer electronics as it avoids committing to comprehensive stimulus measures.

Our take: Luxury companies are girding themselves for a more difficult operating environment in 2025, as challenges in China and uncertainty in the US throw up considerable roadblocks to growth.

Ralph Lauren and Canada Goose defied luxury slowdown in Q1: But tariffs and uncertainty could reverse that momentum.

Worldwide personal luxury sales will grow from $415.45 billion in 2023 to $499.59 billion in 2027, but growth is slowing, according to our forecast.

As consumers balance the cost of necessities with the desire to splurge, secondhand luxury is a sweet spot, giving shoppers a way to treat themselves without breaking the bank. The category, which was valued at 鈧�43 billion ($45.21 billion) in 2022, will continue to grow, driven by cost-conscious and sustainability-minded consumers.

Worldwide luxury sales will eke out 3.2% growth in 2024. Except for the pandemic year of 2020, when sales fell by 19.3%, this is the smallest gain we鈥檝e seen since we started tracking the metric in 2018.

The EV market continued to diversify beyond luxury models, but the lack of EVs in the sub-$25,000 segment stifled wider adoption in North America. Chinese EV makers like BYD and Geely continued to gain ground in emerging markets with low-cost models designed for specific regions. Strategic partnerships and investments grew. Volkswagen invested $5 billion in Rivian.

Mytheresa knows what luxury shoppers want: The luxury ecommerce retailer grew sales by 7.6%, bucking the global luxury slowdown.

As sales growth of luxury goods slows in established markets, brands will expand in emerging regions like the Middle East. There, rising wealth among a young population that鈥檚 bringing their spending home will boost demand.

And this sparked a viable craze among Chinese aspirational luxury shoppers because the travel book is expensive for a book, but it's nowhere near the price of a Louis Vuitton handbag. And some even went to all the shops that they could to buy different books so that they could collect all of the tote bags.

Department store websites and apps lead. Respondents to our survey were more likely to have made an online purchase than an offline one at department stores, off-price retailers, and brand-owned stores鈥攖he top three types of retailers for personal luxury goods