As smaller companies struggle to break into the market, global luxury goods companies continue to soar to incredible heights
Louis Vuitton, Ralph Lauren and Estée Lauder are among the top brands generating an aggregated revenue of US$247 billion in FY2017, according to a recent study by Deloitte
The rich taste for lifes finest luxuries is stronger than ever with the increase up US$30 billion on the previous years revenue
As clothing and footwear dominated the charts, the top 10 companies in the multiple luxury goods sector alone collectively accounted for 30.8% of the total top 100 luxury goods sales
76% of the companies reported growth in their luxury sales, with nearly half of these recording double-digit year-on-year growthPatrizia Arienti
Despite the recent slowdown of economic growth in major markets including China, the Eurozone and the US, the luxury goods market looks positive Deloitte Global EMEA Fashion and Luxury Leader Patrizia Arienti says. The top 100 players showed strong performance in FY201776% of the companies reported growth in their luxury sales, with nearly half of these recording double-digit year-on-year growth
While Asias economy slows, France shone as the best-performing country for sales growth
To make the list, luxury goods revenue had to exceed US$218 million where many recorded an average company size of US$2.47 billion
And the multibillion-dollar boom is being attributed to the HENRY, or the High-Earners-Not-Rich-Yet, generation, sweeping through, thought to earn between US$100,000 and US$250,000 per year
Big businesses are increasingly keeping an eye on the new, younger consumer class made up mainly of millennials and gen Zthe customers of the future who are swimming in the finer things in life
## The FY2017 top 10 luxury goods companies by sales, according to Deloitte
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## LVMH, US$27.9 billion
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## Estée Lauder Companies, US$13.6 billion
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## Richemont, US$12.8 billion
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## Kering, US$12.1 billion
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## Luxottica Group, US$10.3 billion
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## Chanel Limited, US$9.6 billion
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## LOrêal Luxe, US$9.5 billion
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## Swatch Group, US$7.8 billion
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## Chow Tai Fook Jewellery Group Limited, US$7.5 billion
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## PVH Corp, US$7.3 billion
Céline, Fendi, Dior, Givenchy, Zenith, Louis Vuitton and Moët Hennessytheyre just some of the planets finest labels tucked under the French umbrella LVMH
Founded by beauty pioneer Estée Lauder in 1946, the US business has soared to become one of the biggest cosmetics companies with La Mer, AERIN, Michael Kors and Jo Malone to its name
The Switzerland-based luxury goods company home to Chlo IWC Schaffhausen and Cartier recorded 3.1% growth in sales
As the owner of the worlds most popular brand Gucci, according to Lyst index, it is little surprise the French group that owns Yves Saint Laurent, Balenciaga and Pomellato jumped a position on the previous year
The Milan-based eyewear company may have dropped one spot in ranking but it is still the largest business in the eyewear industry, home to brands including Prada, Burberry, Coach, Bulgari, Chanel, Ferrari, Tiffany & Co. and Versace
The UK subsidiary of Chanel S.A. was the only new entrant to the top 10 list, landing a spot in sixth place
Sliding one position in ranking, the LOréal Group is known for brands including Viktor&Rolf, Kiehls and Lancôme
Swatch, Longines, Omega and Tissot are among the labels owned by the international Swiss watch manufacturer
The privately owned Hong Kong business is a conglomeration of jewellery, property development, hotels, casinos, ports and department stores brands
One of the worlds largest apparel companies responsible for Tommy Hilfiger, Van Heusen and Calvin Klein may have dropped one position, but it still secured a spot in the top 10
#LVMH #LouisVuitton #Gucci #Chanel #Prada #EsteeLauder #aerin
