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The Asia Pacific Luxury Apparels Market Size is anticipated to experience a market growth of 6.4% CAGR during the forecast period (2017 - 2023).
Luxury apparels can be simply defined as garments or attire that compliments a person?s overall appearance. The type of rich fabric used in the manufacturing of the attire gives the luxurious or classy look to an outfit. Luxury apparels have become a necessity in the modern fashionable world. Wide ranges of luxury options are available for casual as well as in fashion wear; one can select the attire as per the occasion. Traditional fabric such as pure cotton and silk are some of the popular types of luxury fabrics.
From a business and brand point of view, dresses that are made up of high quality and creative designs could attract more customers. Product branding plays an important role in the luxury apparels landscape. Designers and brands all over the world are coming up with their own clothing labels to maintain uniqueness of brand or designs. H & M group has announced the launch of its new luxurious brand ARKET in 2017. The brand would be sold in 18 European countries and would include cloths for men, women and children.
Additionally, fast food chains have also found profitability in the fashion industry. Earlier in June 2017, McDonald?s collaborated with the Japanese clothing brand known as Beams. They have launched limited edition of Big Mac-themed T-shirts, jeans, and other products. Launching of new brands, and creative ready to wear dresses have become the major trends in the luxury apparels market. In May 2017, Tata Cliq Luxury announced the addition of American clothing brand, Brooks Brothers to its brand portfolio?. The website would cover more than 500 curated styles in men's apparel and accessories category, by Brooks Brothers Main Line and Brooks Brothers Red Fleece Collection.
Based on the Mode of Sales, the Luxury Apparels market is segmented into Online and Offline. Based on End Users, the market is segmented into Men and Women. Based on Materials, the market is segmented into Cotton, Silk, Leather, and Denim. Based on Country, Luxury Apparels market is segmented into China, Japan, India, South Korea, Singapore, Australia and Rest of Asia Pacific. India and Australia would witness promising CAGR during the forecast period (2017-2023).
The report covers the analysis of key stakeholders of the Luxury Apparels market. Key companies profiled in the report include Ralph Lauren Corporation, LVMH, Burberry Group Plc, PVH (TOMMY HILFIGER USA INC.), Nike, Inc., Giorgio Armani S.P.A, Hermes International, Inc., Michael Kors Holdings Limited, Kering (Gucci), and Hugo Boss AG.