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Exclusive extracts from this 117-page-long report:
- What is the business?
This report covers high-end fashion and apparel accessories such as gloves and scarves. Excluded from the report are leather goods, shoes and other branded accessories such as watches and jewellery. Though clothing in general represents a basic necessity, high-end fashion can be considered discretionary. The global high-end fashion market is, by definition, a market of leaders. Leading groups' main assets are their strong brands, which create attraction and desire for their products. […]
- What are the main markets?
The high-end fashion industry is dominated by Western European labels, especially Italian and French ones. American labels often specialise in the premium segment, which aims at marketing strong brands on a larger scale. On the demand side, Asian consumers account for a significant share of demand, both through local markets and tourist purchases. Western Europe and, to a smaller degree, the USA are the other main markets. [...]
- Who are the key players?
Italian labels dominate the luxury fashion market, but French groups are in the lead when taking into account leather goods and accessories. French labels generally started as haute couture houses before or immediately after World War II, and later developed into large conglomerates to create synergies and increase competitiveness. Leading Italian labels are generally younger, independent companies which often started their business in segments other than fashion. [...]
- How intense is competition?
The global luxury apparel market is fairly fragmented with a few large multi-brand groups operating alongside a large collection of smaller (and often more dynamic) players. The rise of the internet has allowed a constellation of small niche brands to gain exposure with limited marketing budgets, while the rise of e-commerce reduces distribution difficulties. [...]