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France and Italy dominate Deloitte’s list of top 100 largest luxury companies

By Marjorie van Elven


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Businesses from France and Italy dominate Deloitte’s annual list of Top 100 luxury goods companies once again. The latest report covers the luxury goods sector in fiscal year 2016 (ending on June 30, 2017). Italy leads in number of companies making the list (24), but the nine French corporations that have made the top 100 represent almost 25 percent of all sales in the sector.

The world’s 100 largest luxury goods companies generated sales of 217 billion in FY2016, according to the report. The average luxury goods annual sales for a Top 100 company is 2.2 billion US dollars.

Top 10 luxury goods companies, based on consolidated sales:

  • 1. LVMH Moët Hennessy-Louis Vuitton SE (France)
  • 2. Estée Lauder Companies Inc. (United States)
  • 3. Compagnie Financière Richemont SA (Switzerland)
  • 4. Luxottica Group SpA (Italy)
  • 5. Kering SA (France)
  • 6. L’Oréal Luxe (France)
  • 7. The Swatch Group Ltd. (Switzerland)
  • 8. Ralph Lauren Corporation (United States)
  • 9. PVH Corp. (United States)
  • 10. Chow Tai Fook Jewellery Group Limited (Hong Kong)

Together, the 10 companies mentioned above generated just under half of the total luxury good sales by all of the Top 100 companies listed in Deloitte’s list. There are no newcomers to the Top 10. FY2016 marked the end of a slowdown in luxury sales growth for most of the aforementioned companies, according to Deloitte. LVMH, for instance, grew 17.2 percent in the period, and Kering nearly quadrupled its sales growth, passing the 10 million euro milestone for the first time.

Although almost all countries in the top 10 are located in Europe or the United States, Deloitte’s report emphasizes the growing importance of non-Western markets for the luxury goods industry. Currently, clothing and footwear sales in Europe and North America represent roughly 50 percent of the global market, but sales in Asia, Latin America and the Middle East are predicted surpass the 50 percent mark in FY2018.

Canada Goose: The fastest growing luxury goods company in the world

The report also analyses the fastest growing companies, based on compound annual growth rate in luxury goods sales over a two-year period. Newcomer Canada Goose is at the top of this year’s list.

Fastest luxury goods companies, according to Deloitte:

  • 1. Canada Goose Holdings Inc. (Canada)
  • 2. Pandora A/S (Denmark)
  • 3. Valentino SpA (Italy)
  • 4. Furla SpA (Italy)
  • 5. SMCP SAS (France)
  • 6. Acne Studios Holding AB (Sweden)
  • 7. Moncler SpA (Italy)
  • 8. Richard Mille SA (Switzerland)
  • 9. Restoque Comércio e Confecções de Roupas S.A (Brazil)
  • 10. East Gold Jade Co., Ltd (China)

Luxury sales growth driven by millennials and generation Z

Millennials and Generation Z represented 30 percent of consumers of luxury goods in 2016, and this rate is expected to grow to 40 percent by 2025. According to Deloitte, these young shoppers seek a personalized purchase experience, which requires luxury goods companies to make better use of social media and AI-driven recommendations.

To find a leading example of how to cater for younger generations, look no further than Gucci, whose sales have grown 42 percent in 2017. The growth rate for e-commerce was even higher, at 86 percent. Millennials accounted for half of Gucci’s revenues last year, which reflects Gucci’s new “geek-chic” brand positioning and the effective integration of its online and in-store purchase experiences.

Other luxury companies are following suit, like Burberry, which uses Apple’s ARkit for a new feature in its mobile app and Yoox Net-a-Porter, with its “try, share and shop” tool that allows customers to try accessories on in virtual reality.

Picture: Courtesy of Gucci by Dan Lecca; courtesy of Canada Goose

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