Competitive Landscape<\/u><\/strong><\/h3>\n\n\n\n

Key Players Aim to Compete with Rivals by Launching Unique Products & Merging with Others<\/strong><\/p>\n\n\n\n

The global market for luxury goods houses a large number of companies that are mainly aiming to strengthen their positions worldwide. To do so, they are adopting the merger and acquisition strategy. Also, some of the others are introducing novel luxury brands to attract more customers.<\/p>\n\n\n\n

Below are the two latest industry developments:<\/strong><\/p>\n\n\n\n

• October 2020: <\/strong>Ralph Lauren, a leading provider of digital-first customization, included the packable quilted jacket, its best-selling outerwear piece, in collection. Its exterior is made up of recycled down-alternative insulation, polyester fabrics, and recycled nylon. The company aims to bring 100% sustainability till 2025.<\/li>
• October<\/strong> 2020<\/strong>: LVMH Mo\u00ebt Hennessy Louis Vuitton SA (LVMH) concluded an agreement with Tiffany & Co. to refine a few terms of their previously accepted merger agreement, showcasing a purchase of 131.50 dollars per share.<\/li><\/ul>\n\n\n\n

  Frequently Asked Questions (FAQs)<\/strong><\/h2>\n\n\n\n

  1. How big is the luxury goods industry?<\/strong><\/p>\n\n\n\n

  Luxury Goods Market size was USD 316.16 billion in 2019. It is projected to grow from USD 257.26 billion in 2020 to USD 352.84 billion in 2027, exhibiting a CAGR of 4.6% in the forecast period.<\/p>\n\n\n\n

  2. Who are the key players in the Luxury Goods Market?<\/strong><\/p>\n\n\n\n

  LVMH Mo\u00ebt Hennessy-Louis Vuitton SA (Paris, France), Compagnie Financi\u00e8re Richemont SA (Geneva, Switzerland), Kering SA (Paris, France), Chow Tai Fook Jewellery Group Limited (Central, Hong Kong), The Est\u00e9e Lauder Companies Inc. (New York, U.S.), Luxottica Group SpA (Milan, Italy), The Swatch Group Ltd. (Biel \/ Bienne, Switzerland), L\u2019Or\u00e9al Group (Clichy, France), Ralph Lauren Corporation (New York, U.S.), Shiseido Company, Limited (Tokyo, Japan)<\/p>\n\n\n\n

  3. What are Key Factors Raising the Market?<\/strong><\/p>\n\n\n\n

  Increasing Demand from High-income Groups to Favor Growth<\/p>\n\n\n\n

  Browse Detailed Summary of Research Report<\/strong><\/h3>\n\n\n\n

  https:\/\/www.fortunebusinessinsights.com\/luxury-goods-market-103866<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

  According to Fortune Business Insights, the global luxury goods market is set to gain traction from the introduction of fashion-forward and innovatively created products. This information is given by Fortune Business Insights\u2122 in a new report, titled, \u201cLuxury Goods Market, 2020-2027.\u201d The report further states that the market size was USD 316.16 billion in […]<\/p>\n","protected":false},"author":1,"featured_media":264,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-263","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-life-style"],"yoast_head":"\n