During FY2021, luxury goods companies rebounded from the COVID-19 pandemic, with store re-openings and a recovery in consumer demand. The Top 100 luxury goods companies generated composite sales of US$305 billion, which represents a 21.5% increase over the previous year and is higher than pre-pandemic levels.
The ‘green transition’ and the move toward a circular economy are providing luxury goods companies with new opportunities. In conjunction with the ongoing metaverse and Web3 revolution, this is driving innovation and disruption in the luxury industry. Increasingly, companies are integrating sustainability principles into their core strategies, developing environmentally-friendly new materials, and making sure their products are sustainable by design. Luxury companies can use the metaverse to reinvent
luxury experiences, build brand credibility, and engage customers. Existing and new customers can interact with a brand’s products and essence in new ways through digital reality.
The report presents the Top 100 largest luxury goods companies globally, based on their consolidated luxury goods sales in FY2021, which we define as financial years ending within the 12 months from 1 January to 31 December 2021. The leading luxury goods companies continue to dominate both sales and profitability. The Top 10 companies now account for 56.2% of the Top 100 luxury goods sales, an increase from 51.4% in the previous year. They account for almost 85% of the total net profit for the Top 100 companies in FY2021.
After a hiatus during the pandemic, M&A activity picked up again in 2021 and 2022. Companies refocused on their core luxury brands and sought to enhance profitability and financial stability by selling non-core businesses to consumer goods and private equity firms.
France’s share of the Top 100 luxury goods sales jumped as profit and sales rebounded. The eight French companies generated over one-third of the Top 100 luxury goods sales, an increase of 6.2 percentage points on the previous year. As the impact of the pandemic decreased, all countries except the United States and Japan saw their luxury goods sales growth rebound.
Below is the report data from Deloitte. You can download it to know more info.
Also, based on Nov.2022 online website visitors (Traffic) Ranking, here are the TOP 50 Luxury Jewelry Companies for your reference.