Analyst Insight by Fflur Roberts - Luxury Goods Analyst
Despite France’s venerable position on the global luxury and fashion scene, the French luxury market has not escaped the country’s poor macroeconomic environment.
According to Euromonitor International’s latest research, luxury sales in France reached just under €18 billion in 2014, making it the third biggest market in the world, behind the US and Japan, but, with a regional value share of 21%, France comes out top, ahead of neighbouring Italy and the UK.
Much in line with comparable global figures, designer clothing and footwear accounts for the lion’s share of luxury value sales in France, at 46% in 2014. However, its growth is dwarfed by that of the second largest category, luxury accessories, which grew by 43% in value in the five years to 2014, making it the most dynamic category overall.