The global luxury market is a dynamic and glamorous sector that encompasses high-end fashion, jewelry, watches, art, and more. Major brands are trying to improve their brand image and product quality. They attract customers by collaborating with top designers, launching limited-edition products, hosting high-end events, and more. At the same time, they also focus on providing personalized services and experiences to meet the different needs of their customers.
Luxury consumption is not affordable for everyone, and the high price and unique quality make luxury goods exclusive to a few. In addition to the pursuit of material aspects, luxury consumption also represents an attitude and values towards life. People often buy luxury goods not only for material satisfaction, but also for quality, taste and exclusivity.
The following is a list of the top 10 luxury goods companies in the world based on the sales data released by professional institutions. The 10th place in the list of global luxury goods companies is Hewson (PVH Corp), with annual sales of about $8.364 billion. A well-known clothing group in the United States, its brands include Calvin Klein, Tommy Hilfiger and so on.
The 9th place in the list of global luxury goods companies is Rolex, with annual sales of about 10.336 billion US dollars. Headquartered in Switzerland, it is a world-renowned watch brand, Rolex's logo design adopts the design of the crown, which also positions its position in the watch industry, and Hermès International ranks 8th on the list, with annual sales of luxury goods of about 12.196 billion US dollars. Founded in 1837 in Paris, France, the brand's products include horse harness, leather goods, furniture, jewelry, watches and fragrances, always adhering to the Maison's artisanal model and the pursuit of fine materials.
Chow Tai Fook Jewellery Group ranked 7th on the list, with annual sales of luxury goods of about 12.563 billion US dollars. Headquartered in Hong Kong, China, it caters to the needs of different stages of life by providing a wide range of products, services and sales channels. Products include diamonds, silver, pearls, jade, platinum and other jewelry, L'Oréal ranks sixth on the list, with annual sales of luxury goods of about 15.388 billion US dollars. It is the largest cosmetics group in France, and its various cosmetics sell well all over the world and are widely popular. Top and first-tier brands include Helena, Lancôme, Yves Saint Laurent and more.
Chanel ranks fifth on the list, with annual sales of luxury goods of about $17.224 billion. Founded in France, the brand produces haute couture, fine jewelry, watches, eyewear, perfumes, make-up and skincare products, while Estée Lauder ranks fourth on the list, with annual sales of about $17.737 billion in luxury goods. A well-known skincare, cosmetics and perfume company in the United States, pursuing advanced technology and continuous innovation, it is renowned all over the world for its research and development of various exquisite, elegant and luxurious products.
The third largest luxury company in the world is Richemont, with annual sales of about 19.248 billion US dollars. Headquartered in Switzerland, it operates in jewelry, watches, apparel and bags, with brands such as Vacheron Constantin, Baume & Mercier, Cartier, Montblanc and Lanzi, while Kering ranks second on the list, with annual sales of luxury goods of around US$21.394 billion. Headquartered in Paris, France, its most famous luxury brand is Gucci.
The first place in the list of global luxury goods companies is LVMH Group, with annual sales of luxury goods reaching 59.869 billion US dollars (equivalent to about 430.6 billion yuan). The boss behind it, Bernard Arnault, was once the richest man in the world, and his five major businesses are wine and spirits, fashion and leather goods, perfume and cosmetics, watches and jewelry, and boutique retail. The brands under its management include Moët & Chandon, Hennessy, Louis Vuitton, Givenchy, Dior and Tiffany.