Short description of Fashion and Luxury markets worldwide

1. European School of Economics, Madrid.

2.  The global apparel market was valued atThe global apparel market was valued at
US$1.7 t rillion in 2012 and employsUS$1.7 t rillion in 2012 and employs
approximat ely 75 million people.approximat ely 75 million people.
 Apparel and t ext ile are among of t he worldsApparel and t ext ile are among of t he worlds
largest indust ries. Tot al Global apparel export slargest indust ries. Tot al Global apparel export s
are wort h approximat ely USD 412 billion (2011)are wort h approximat ely USD 412 billion (2011)
and global t ext ile export s USD 294 billion.and global t ext ile export s USD 294 billion.
 Despit e persist ent economic t urbulence,Despit e persist ent economic t urbulence,
mount ing t he global luxury goods marketmount ing t he global luxury goods market
remains largely posit ive. The pursuit of luxuryremains largely posit ive. The pursuit of luxury
has been sust ained, wit h bot h absolut e andhas been sust ained, wit h bot h absolut e and
af f ordable luxury rebounding st rongly. Wit h aaf f ordable luxury rebounding st rongly. Wit h a
new world order at st ake, highlight ed f urt hernew world order at st ake, highlight ed f urt her

3.  Growing number of wealt hy consumers acrossGrowing number of wealt hy consumers across
t he globe. The world’s wealt hiest consumerst he globe. The world’s wealt hiest consumers
are increasing in number. The US, J apan, China,are increasing in number. The US, J apan, China,
Germany and France were home t o some 8.5Germany and France were home t o some 8.5
million households wit h an annual disposablemillion households wit h an annual disposable
income over US$300,000 in 2012.income over US$300,000 in 2012.
 Luxury and t echnology f ully int egrat ed: LuxuryLuxury and t echnology f ully int egrat ed: Luxury
consumers in developed count ries haveconsumers in developed count ries have
embraced t echnology, wit h social media andembraced t echnology, wit h social media and
online ret ailing playing an import ant role f oronline ret ailing playing an import ant role f or
luxury brands in order t o engage wit h t heirluxury brands in order t o engage wit h t heir
cust omers, receive valuable f eedback and gaincust omers, receive valuable f eedback and gain
loyalt y.loyalt y.
