Spanish brands make it to the global luxury 'top 100'

Several Spanish names sound with strength within the top 100 global luxury list that consulting firm Deloitte draws every year. In fact, this is the third consecutive year in which the Spanish fashion sneaks among the top ranking.

Sociedad Textil Lonia, Puig, Tous, Festina Lotus and St. Patrick remain among the hundred largest luxury companies in the world, according to the latest edition of the report 'Global Powers of Luxury Goods 2016' prepared by Deloitte.

So while Puig and Tous have climbed four and two steps respectively, to fill the positions 24 and 72, Sociedad Textil Lonia, founded by Adolfo Dominguez,’s siblings, has conquered the 71st post; Festina Lotus came in as number 85 and St. Patrick secured the 96th place, with declines of two, four and three spots in each case.

Puig and Tous climb up the top 100 luxury ladder<7h2>

Sociedad Textil Lonia, founded by designer Adolfo Dominguez’s siblings, sells Purification Garcia and CH Carolina Herrera brands and licensed products.

The St. Patrick group, meanwhile, focuses on wedding fashion where it reigns with Pronovias, San Patrick and La Sposa labels.

According to statistics cited by the consultant, with a combined turnover of 222,000 million dollars in the past fiscal year, sales of the 100 largest luxury companies in the world increased by 3.6 percent during this period. The `top 10` garnered nearly 47.9 percent of total sales.

The coveted 'top 10' of this list is topped by LVMH Moet Hennessy-Louis Vuitton, Compagnie Financiere Richemont and The Estee Lauder Companies, followed by Luxottica Group, The Swatch Group, Kering, Chow Tai Fook Jewellery Group Limited, L`Oréal Luxe, Ralph Lauren Corporation and PVH Corporation.

Luxury brands, motor engine for shopping tourism worldwide

On the other hand, according to the report, the so-called shopping tourism in recent years has experienced significant growth so that now accounts for 40 percent of the market for personal luxury, while shopping at airports has grown an average of 8 percent annually in the last decade.

The expectation that air traffic will double in the next fifteen years represents, in the opinion of Deloitte, a unique opportunity for growth in the sector.

China remains the major engine for growth of this niche market and is expected to maintain its privileged position as more than the 400 million `millennials` populating the country - more than the workforce in the US and Europe combined - integrate into the labour market and become potential consumers, highlights EFE.