UNITED STATES 46%: Share of wealthy U.S. consumers who expect their household incomes to “significantly increase” in the next five years.
38.5%: Share of worldwide gross domestic product attributable to consumer spending in the U.S. and Western Europe in 2002.
35%: Share of Millennials who said the likelihood that they would purchase luxury goods or services had increased from a year earlier. 15%: Share of Baby Boomers who said the likelihood that they would purchase luxury goods or services had increased from a year earlier. 18%: Share of Millennials who ranked exclusivity as an important consideration in their decision to purchase luxury goods.
4%: Share of Baby Boomers who ranked exclusivity as an important consideration in their decision to purchase luxury goods.
$317 billion: The volume luxury goods sales are expected to surpass worldwide this year, up 3 percent from last year.
91%: Share of luxury product transactions made in a store.
61%: Share of luxury goods buyers who research online before making a purchase.
50%: Share of luxury consumers who use a computer to research a high-end product before buying it; 18 percent use a smartphone and 22 percent use a tablet.
BRAZIL Brazil’s luxury goods expenditure more than doubled between 2005 and 2012.
80%: Share of luxury shopping Brazilians do outside their country to avoid high prices imposed by import taxes.
3 to 4%: Projection for the Brazilian economy’s expansion in 2013.
WESTERN EUROPE 26%: Estimated share of worldwide GDP attributable to consumer spending in the U.S. and Western Europe in 2015.
65%: Share of watch executives that have a positive outlook for the Swiss watch industry over the next 12 months. Although export sales to China are slowing, demand from other emerging markets and North America is expected to hold up well, as is demand from tourists visiting Switzerland and other European countries to shop.
One-third: Share of total luxury sales generated by Western Europe.
An increasing number of Europeans think luxury is inaccessible to them. Ipsos Public Affairs found in a recent study that, in 2013, 74 percent of Spaniards estimated that luxury is an “inaccessible world” for them, versus 63 percent in 2007. In Germany, it was 57 percent against 50 percent, and in the U.K. it was 59 percent versus 46 percent. In 2013, 76 percent of French and 49 percent of Italians queried deemed luxury an “inaccessible world.”
MIDDLE EAST $15 billion: The projection for online retail sales in GCC countries alone (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, UAE) by 2015.
The Middle East is experiencing an unprecedented “youth bulge,” with more than 60 percent of its population coming from the digitally engaged age group of 15 to 29.
CHINA 3%: Share of consumption of luxury goods in Mainland China conducted online in 2012.
14%: Share of consumption of luxury goods attributable to Chinese consumers in 2008.
34%: Estimated share of consumption of luxury goods attributable to Chinese consumers in 2015.
74%: Share of wealthy Chinese consumers who expect their household incomes to “significantly increase” in the next five years.
38%: Share of Chinese luxury shoppers who buy luxury products in Mainland China only.
50%: Share of Chinese luxury shoppers who buy luxury products both in Mainland China and overseas.
13%: Share of Chinese luxury shoppers who buy luxury products overseas only.
Amid rumors of a slowdown in the national economy, the luxury market in China is in robust health. By 2015, China’s consumers will account for one-third of a global market for luxury goods estimated at around $175 billion (135 billion euros, 114 billion pounds).
2.4%: The increase in the value of diamond trading in the Shanghai Diamond Exchange (year-on-year) to $1.98 billion, in the six months ended June 30. The volume of the same dropped, however, by 37.6 percent to 33.93 million carats.
“My personal philosophy to beauty is paying attention to oneself. I love to be outdoors, lots of fresh air, trying to take care of yourself as best you can. I always notice that comes through,” says Felicity Jones, the global face of @shiseido-owned @cledepeaubeauteus, which launches today. Head to WWD.com to read more about the actress’ love for beauty and how she prepared for her new role in “The Basis of Sex,” playing the young Ruth Bader Ginsburg. #wwdbeauty (📷: @dandoperalski)
For men’s fall 2018, @giuseppezanotti drew on elements from streetwear, sport, biker, combat and rock ‘n’ roll. Pictured here are a pair of shoes from the collection, featuring zippers, rhinestones, and silver hardware. Head to WWD.com to see a roundup of the accessories from Milan’s men’s fall 2018 shows. #wwdfashion (📷: Andrea Delb)
To celebrate the 25th anniversary of @ralphlauren’s snowboarding collection, the brand is mining its archives. The iconic brand is reintroducing vintage styles and dropping new designs for a color capsule that will be available in Ralph Lauren stores and @openingceremony on January 25. The capsule will consist of 10 pieces, including the Snow Beach Pullover, pictured here, which is a collector’s item that rapper Raekwon wore in Wu-Tang Clan’s “Can It Be All So Simple” video. #wwdfashion (📷: Tom Gould)
For @rochasofficial’s pre-fall 2018 collection, creative director Alessandro Dell’Acqua channeled the sophisticated and intriguing Catherine Denevue in the film “Belle de Jour.” Polished collarless coats, midi skirts, suits and ’60s graphic motifs were all featured in the collection, adding a sense of discreet luxury. See the rest of the photos on WWD.com #wwdfashion
“We tried to produce clothing of that couture quality, but the most daunting part was that we only had a matter of days [to do it],” said costume designer Lou Eyrich, who recreated Gianni Versace’s iconic looks for @americancrimestoryfx. Eyrich searched online retailers and vintage shops for original pieces from the design house and for @penelopecruzoficial, who plays Donatella Versace. Head to WWD.com to read how she created the Versace world. #wwdfashion
Only three months after her stellar debut catwalk season, @kaiagerber has inked her first big design collaboration –– with @karllagerfeld. The collection blends Lagerfeld’s Parisian chic aesthetic and the model’s signature West Coast casual style via RTW, accessories, footwear and more. The #KarlLagerfeldxKaia collection will launch in September with a series of events. Get all the details on WWD.com. #wwdnews #wwdfashion
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews