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A new report published by Deloitte shows that the world’s top 100 luxury brands had revenues of more than $281 billion in 2019. The top ten firms alone accounted for more than half of this amount.
At the top of this recently unveiled list, LVMH, Estée Lauder and Kering account for more than a quarter of annual luxury goods revenues in 2019. Indeed, before Covid-19 threatened the figures achieved in the sector, business was doing well for luxury companies.
LVMH was ranked first, bringing in $37.5 billion, while Kering and Estee Lauder, following in its wake, recorded revenues of $17.8 and $14.9 billion respectively.
The other brands in the field were not outdone: Richemont, L’Oréal, Chanel, EssilorLuxottica, Chow Tai Fook Jewelry Group Limited, PVH Corp. and The Swatch Group Ltd. completed the recently unveiled top 10, while Prada finished in 19th position.
With many of its companies at the top of the rankings, France has the largest market share with 28.3% of total sales. On the other hand, more than a third of the brands listed are Italian and many of them are privately owned.
In addition, all the companies mentioned have a turnover of more than 238 million dollars. Their average value is $2.8 billion each. All in all, the figures reported by Deloitte illustrate the dynamism of the luxury sector in 2019.
However, these analyses only cover the revenues reported by companies in 2019. We can therefore anticipate significantly lower results in 2020, due to the impact of the health crisis on the sector.
Read also > GLOBAL LUXURY MARKET ARE ON TRACK FOR A RECORD DECLINE IN 2020, WHILE BUSINESS IS BOOMING IN CHINA
Featured Photo : © LVMH[/vc_column_text][/vc_column][/vc_row][vc_row njt-role=”not-logged-in”][vc_column][vc_column_text]
A new report published by Deloitte shows that the world’s top 100 luxury brands had revenues of more than $281 billion in 2019. The top ten firms alone accounted for more than half of this amount.
At the top of this recently unveiled list, LVMH, Estée Lauder and Kering account for more than a quarter of annual luxury goods revenues in 2019. Indeed, before Covid-19 threatened the figures achieved in the sector, business was doing well for luxury companies.
LVMH was ranked first, bringing in $37.5 billion, while Kering and Estee Lauder, following in its wake, recorded revenues of $17.8 and $14.9 billion respectively.
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A new report published by Deloitte shows that the world’s top 100 luxury brands had revenues of more than $281 billion in 2019. The top ten firms alone accounted for more than half of this amount.
At the top of this recently unveiled list, LVMH, Estée Lauder and Kering account for more than a quarter of annual luxury goods revenues in 2019. Indeed, before Covid-19 threatened the figures achieved in the sector, business was doing well for luxury companies.
LVMH was ranked first, bringing in $37.5 billion, while Kering and Estee Lauder, following in its wake, recorded revenues of $17.8 and $14.9 billion respectively.
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