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.
@fearofgod and @maxfieldla have teamed up on a pop-up installation. The store, located in the gallery space across from Maxfield’s Melrose Ave location, is the site of the brand’s House of God pop-up in which Fear of God founder @jerrylorenzo has created a church-inspired installation. A dozen vintage church pews sit in front of an LED screen playing 90s gospel singers in an effort to re-create an environment akin to a Southern Baptist Church, Lorenzo explained. Read more about the pop-up on WWD.com #wwdfashion (📷: Jennifer Johnson)
Known for his sleek, sophisticated American glamour, Norman Norell is the subject of an upcoming exhibition at @fitnyc. “Norell: Dean of American Fashion,” which runs from February 9 through April 14, will feature approximately 100 ensembles and accessories. His best work is exemplified by the designer’s glittering “mermaid” gowns frosted with thousands of hand-sewn sequins – like the one pictured. (📷: William Helburn) #wwdfashion
For pre-fall 2018, @balmain didn’t let go of the glitz. A crystal embroidered baseball jacket priced at around $40,000 hangs in the “couture” section of the brand’s first men’s pre-collection. Sporting the words “Balmain Army” across the back, the item took around two months to make. “When it was completed, it was like Christmas, it was like, ‘It’s done, it’s exactly what I wanted,’” said Balmain’s creative director @olivier_rousteing during a tour of the collection in a Paris showroom on Monday. #wwdfashion
Eighty degree temperatures and outdoor installations at the annual Art Basel Miami Beach called for bright, elevated beachwear. See more street style pictures on WWD.com. #theyarewearing #ABMB (📷: @lifeinreverie)
Following September’s emotional tribute to her brother Gianni, Donatella Versace wanted to bring the spring show’s deep sense of intimacy to her @versace_official pre-fall collection. Donatella found inspiration in Versace Palazzo in Milan and from Gianni’s opulent apartment. Archival patterns and new motifs were splashed on silk shirtdresses and fitted jersey frocks. See the rest of the photos on WWD.com. #wwdfashion
Demna Gvasalia continues to shake up the Paris fashion calendar — and experiment with new runway timetables for his @vetements_official brand. WWD has learned that Vetements plans to stage its next coed show for the fall 2018 season on January 19 during Men’s Fashion Week in the French capital. Details about the timing and venue have not been confirmed — stay tuned on WWD.com to catch the latest. #wwdnews (📷: @giovanni_giannoni_photo)
@zacposen's go-to holiday gift? Cookies! "I'll usually bake cookies and send them as a gift," said the designer, who recently released his cookbook "Cooking With Zac: Recipes from Rustic to Refined." Get the recipe for his Brown Butter-Chocolate Chip Cookies via link in bio 🍪🍪🍪 #wwdeye #cookingwithzac
For @monsemaison’s pre-fall 2018 collection, Fernando Garcia and Laura Kim honed in on the brand’s many signatures — men’s wear, which was tweaked and feminized through deconstruction, proportion play and lots of bare shoulders. See the rest of the photos on WWD.com #wwdfashion (📷: George Chinese)
On Friday night, @yohjiyamamotoofficial received the Design for Asia Lifetime Achievement Award in Hong Kong. The 75-year-old designer has been celebrated for many years and is best known for his dark and avant-garde tailoring. “In my long career, in design, architecture, [I’ve been to] so many parties, this is the very first time that I have such a warm feeling, I really appreciate this,” Yamamoto said. #wwdfashion (📷: @dominiquemaitre)