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.
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion (📷: Dominique Maître)
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)
Not only does #TheProfit return to CNBC tonight, but @marcuslemonis has launched @shopmarcus, a new shopping and lifestyle retail experience in Aspen and Chicago, with more locations to come. The retail stores offer in-store stylists and a variety of contemporary womenswear selections.
“It’s life, I’m going to face it,” @mingxi11 sighed. “I fell, but you know, I think the most important thing is that I get back up. I had the love, the help from my sister — the girl next to me Gizele [Oliveira] — she’s so nice. When I went backstage everybody was trying to comfort me like ‘Oh Ming, it’s OK.’ I’m really, really touched. I think it’s them who gave me the courage to go back on stage for the finale,” Xi told WWD of her fall at the @victoriassecret fashion show. (📷: David Fisher) #wwdfashion #vsfashionshow #victoriassecret
@louisvuitton tapped @therealpeterlindbergh for its latest city-centric photo book, which is part of a series called Fashion Eye. The primarily black and white book captures the spirit of Berlin in 57 images shot between 1989 and 2019. “Berlin is an inspiration for me, more than a city. I mean @millajovovich is simply Berlin!” said Lindbergh. #wwdfashion
“You know, I think audiences expect a certain performance so I have to deliver to them what they’re expecting to a certain degree. But I’m also a different actor and a different person, I have my own spin on the character,” says @noahegalvin of his takeover of the leading role in “Dear Evan Hansen” following the departure of @bensplatt, who originated the role. Read WWD’s interview with the 23-year-old actor on WWD.com #wwdeye (📷: @jilliansollazzo)
For pre-fall 2018, @etro created richly-colored wonderland, using tapestries, textiles and wallpapers from the Eastern world at large. The line featured floral and graphic prints and jacquard motifs, like this two-piece look featured here. #wwdfashion (📷: Giovanna Pavesi)
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)