Report Description
A recent market
intelligence report that is published by Data Insights Partner on the
global Luxury Footwear Market makes an
offering of in-depth analysis of segments and sub-segments in the regional and
international Luxury Footwear Market. The research also emphasizes on the impact of restraints,
drivers, and macro indicators on the regional and global Luxury
Footwear Market over the short as
well as long period of time. A detailed presentation of forecast, trends, and
dollar values of global Luxury Footwear Market is offered. In accordance with the report, the global
Luxury Footwear Market is projected to
expand by healthy CAGR over the period
of forecast.
Market Insight, Drivers, Restraints,
Opportunity & Trends of the Market:
Definition
Luxury
Footwear is a unique amalgamation of functionality, elegance and style. These
products are characterized by the use of superior raw materials, enhanced
durability and supreme comfort that accrue to the users. These products can be
modified and customizable as per the consumers tastes and preferences. Premium
texture and exquisitely enhanced product design is the primary drivers of the
luxury footwear market.
Market Drivers
A
surge in the millionaire population and millennial population globally is providing
the initial impetus to this market. A rise in the high-income group population
those are spendthrift by nature especially in the developing and emerging
nations is driving the growth of this market.
The
adoption of luxury footwear to symbolize wealth, power and status and the
indulgence of consumers in brandishing is fueling the growth of this market.
The
customization facilities provided by the key players of this market are
bolstering the growth of this market. Manufacturers are now shifting their
operation towards the production of exclusive and individualistic products
which is positively influencing this market. For instance, Modello Domain
offers customization of products by making use of monograms, and production of
luxury handcrafted footwear.
Soaring
environmental concern complementary to the adoption of the sustainable
production of luxury footwear by the manufacturers are powering the growth of
this market. the employment of recycled plastic bottles, recycled lurex,
recycled polyester and synthetics are some of the strategies of the leading
players for sustainable development.
The
advertisement and sales strategies used by the leading players of this market
which involve the advertisements and endorsements made by global celebrities
and famous sports person is augmenting the growth of the luxury footwear
market.
Market Restraints
Luxury
footwear companies are global brands and their products are immoderately
priced. Such premium prices of the product are swaying away the majority of
population which comprises of middle- and low-income groups and hampering the
market growth.
The
practice of forging the products of the leading brands is taking a toll on this
market. Although rigid directives have been formed to keep a check on product
counterfeiting but it is not that effective on global and regional markets.
The
Covid-19 Pandemic situation has negatively affected this market. Due to global
lockdown and work from home practices the demand for luxury footwear has
registered a fall. Moreover, this situation has put a strain on the purchasing
power and thrift of the population calling them to spend money judiciously
which is hindering the growth of this market.
Opportunities
The
growing penetration of internet and social media platforms is expected to give
a boost to lifestyle blogging activities and increase the demand for luxury
footwear on a multiplied basis.
With
rapid urbanization and transition of consumer lifestyle and choices, the
utilization of luxury footwear is likely to rise and unfold various aspects and
provide lucrative opportunities to the market operators.
Trends
The
Formal shoe segment of luxury footwear dominates the luxury footwear market and
is expected to continue its domination in the forecast period owing to the
symbolization of the user’s professionalism in the glamour industry and the
corporate world. The women segment of the luxury footwear market is expected to
dominate due to the growing female participation in the workforce. But the Male
segment is projected to be experience fastest growth. The North American region
is the leader in terms of market and will continue with its leadership in the
forecast period due to the presence of high-income groups and the leading
companies of this market. Europe is estimated to follow North America in the
luxury footwear market. This progress can be traced back to the presence of
buyers of this product in the European Region.
Segment Covered:
This market
intelligence report on the global Luxury Footwear Market encompasses market segments based on product type,
material type, end use and country.
By
Product Type the global Luxury Footwear Market has been divided into:
q Formal
Shoe
q Casual
Shoe
q Athletic
By Material Type the global Luxury
Footwear Market has been divided into:
q Leather
q Non-Leather
By End
Use the global Luxury Footwear Market has been divided into:
q Women
q Men
q Kids
By country/region,
the global Luxury Footwear Market has been divided into:
q North
America (the U.S., Canada),
q Latin
America (Brazil, Mexico, Argentina and other countries),
q Europe
(Germany, France, the U.K., Spain, Italy, Russia, and other countries),
q Asia
Pacific (India, Japan, China, Australia and New Zealand and other countries),
q Middle
East and Africa (GCC, South Africa, Israel and Other countries).
Profiling of Market
Players:
This business
intelligence report offers profiling of reputed companies that are operating in
the market. Companies such as:
q Jimmy
Choo
q Giorgio
Armani
q LVMH
q Adidas
AG
q John
Lobb Bootmaker
q Burberry
q Chanel
S.A.
q Prada
S.p.A
q Base London
q A.Testoni
others have been
profiled into detail so as to offer a glimpse of the market leaders. Moreover,
parameters such as Luxury Footwear Market related investment & spending and developments by
major players of the market are tracked in this global report.
Report Highlights:
In-depth
analysis of the micro and macro indicators, market trends, and forecasts of
demand is offered by this business intelligence report. Furthermore, the report
offers a vivid picture of the factors that are steering and restraining the
growth of this market across all geographical segments. In addition to that, IGR-Growth
Matrix analysis is also provided in the report so as to share insight of the
investment areas that new or existing market players can take into consideration.
Various analytical tools such as DRO analysis, Porter's five forces analysis
has been used in this report to present a clear picture of the market. The
study focuses on the present market trends and provides market forecast from
the year 2020-2028. Emerging trends that would shape the market demand in the
years to come have been highlighted in this report. A competitive analysis in
each of the geographical segments gives an insight into market share of the
global players.
Few Recent Developments
Giorgio Armani
In April 2019,
Wu Muye was officially announced as the brand ambassador of Giorgio Armani. Wu
Muye is a global figure as a piano artist.
Jimmy Choo
In February
2019, the head designer of Jimmy Choo, Alfredo Piferi exhibited the very first
collection on sustainable luxury footwear in the Milan Fashion Week. The
collection comprised of curvy sandals and sleek boots crafted by recycling
plastic bottles, lurex, polyester and synthetics.
Salient Features:
Ø
This study offers
comprehensive yet detailed analysis of the Luxury
Footwear Market, size of the
market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of
forecast: 2020-2028, taking into account 2019 as the base year
Ø
It explains upcoming
revenue opportunities across various market segments and attractive matrix of
investment proposition for the said market
Ø
This market
intelligence report also offers pivotal insights about various market opportunities,
restraints, drivers, competitive market strategies of leading market players,
emerging market trends, and regional outlook
Ø
Profiling of
key market players in the world Luxury Footwear Market is done by
taking into account various parameters such as company strategies, distribution
strategies, product portfolio, financial performance, key developments,
geographical presence, and company overview
Ø
The data of
this report would allow management authorities and marketers of companies alike
to take informed decision when it comes to launch of Type of models, government
initiatives, marketing tactics and expansion, and technical up gradation
Ø
The world
market for Luxury Footwear caters to the needs of various stakeholders pertaining to this
industry, namely suppliers, manufacturers, investors, and distributors for Luxury
Footwear Market. The research
also caters to the rising needs of consulting and research firms, financial
analysts, and new market entrants
Ø
Research
methodologies that have been adopted for the purpose of this study have been
clearly elaborated so as to facilitate better understanding of the reports
Ø
Reports have
been made based on the guidelines as mandated by General Data Protection
Regulation
Ø
Ample number
of examples and case studies have been taken into consideration before coming
to a conclusion
Reasons to buy:
v
Identify
opportunities and plan strategies by having a strong understanding of the investment
opportunities in the Luxury Footwear Market
v
Identification
of key factors driving investment opportunities in the Luxury
Footwear Market
v
Facilitate
decision-making based on strong historic and forecast data
v
Position
yourself to gain the maximum advantage of the industry’s growth potential
v
Develop
strategies based on the latest regulatory events
v
Identify key
partners and business development avenues
v
Respond to
your competitors’ business structure, strategy and prospects
v
Identify key
strengths and weaknesses of important market participants