According to the latest report by IMARC Group, The global luxury footwear market grew at a CAGR of around 5% during 2015-2020
. Looking forward, IMARC Group expects the global luxury footwear market
to grow moderately during the forecast period (2021-2026).
Luxury footwear is made up of premium quality materials. On the basis of durability, uniqueness, and comfort, it can be compared to its affordable counterparts. It is expensive, exclusive, and scarcely available in the market as it is not mass-produced. The increasing preference for lavish fashion brands as a status symbol is positively impacting the market.Request to get the sample report:Â https://www.imarcgroup.com/luxury-footwear-market/requestsample
The growing fashion industry and improving living standards with inflating disposable income are primarily driving the market growth. Moreover, increasing penetration of social media with rapid urbanization is also propelling the product demand. Furthermore, advent of a wide product range by various key industries with alliances and strategic partnerships to enable customized footwear and a broad selection range in material, design, color, and size to expand the consumer base is catalyzing the market growth. Additionally, the rapid shift in distribution channels of luxury footwear from offline towards online platforms is further augmenting the market. Other factors, including continuous adoption of sustainable materials in manufacturing footwear with increasing environmental awareness and assertive promotional activities with numerous product innovations, will proliferate the market growth in the coming years.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global luxury footwear market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, product, end user and distribution channel.Breakup by Product:Breakup by End User:Breakup by Distribution Channel:Breakup by Region:
- North America
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being A.Testoni (Sitoy Group Holdings Ltd), Adidas AG, Base London, Burberry, Chanel S.A. (CHANEL International B.V.), Dr. Martens (Airwair Group Limited), HermÃ¨s International S.A., Lottusse - Mallorca, LVMH MoÃ«t Hennessy - Louis Vuitton, Prada S.p.A (LUDO srl), Salvatore Ferragamo S.P.A. and Silvano Lattanzi srl.Explore full report with table of contents:Â https://www.imarcgroup.com/luxury-footwear-marketAbout Us
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