The market for women’s luxury footwear is currently worth close to US$ 30 Billion in 2022, and is projected to close in on a valuation of US$ 39 Billion by 2029, rising at a steady CAGR of 5% from 2022 to 2029. From 2014 to 2021, the global women’s luxury footwear market experienced a CAGR of around 4%.
There were 22.4 million HNWIs worldwide, and in 2021, their total wealth was US$ 61,275 billion. Europe experienced the fastest rate of growth in the HNWI population, with over 5.6 million HNWIs. People therefore have a lot of purchasing power. The inclusion of women in the workforce and the increase in the number of working women in countries like Japan, the UK, and France are additional factors.
Compared to other market segments (boots, heels & pumps, casual, sneakers & sports shoes), sandals and casual flats will contribute the majority of the global sales of women’s luxury footwear in 2022.
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Key Takeaways – Women’s Luxury Footwear Market
- Europe is expected to remain prominent in the global women’s luxury footwear market, owing to high concentration of luxury footwear manufacturers such as JIMMY CHOO PLC, Hermes, Christian Dior, Gucci, Chanel, etc.
- The sandals & flats segment is considered as key attributor to the global women’s luxury footwear market, which can be attributed to their availability in wide variety of designs.
- High exposure of consumers in websites such as Amazon, Walmart, etc., with 10% online penetration rate, support online retail in becoming the most lucrative sales channel.
Increasing number of high-net-worth individuals (HNI) led to a surge in demand for custom footwear. Advancements in technology such as 3D printing and advanced sensors would also push manufacturers to introduce innovative shoe designs.
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Top Trends in Women’s Luxury Footwear Market
Compared to the men’s footwear market, the women’s footwear market has a higher revenue share. The global footwear market is significantly impacted by changing lifestyles, rising fashion awareness, and celebrity endorsement. Athleisure trends, smart shoes, and sustainable footwear are the most recent market trends in luxury footwear.
Animal print boots, floral prints, feather heels, chunky bright sneakers, big toe sandals, and other print styles have all enjoyed tremendous popularity in the past.
Competitive Landscape Analysis
The report highlights some prominent players in the global women’s luxury footwear market, which include Kering, Burberry, Caleres, Jimmy Choo PLC, and others.
Market players primarily focuses on product design and innovation. Maison Baum, a Germany-based luxury footwear manufacturer, launched a pain free high heel in Q1 2019. The company uses its patented footbed technology and an insole with anatomical elevations to shift wearers’ weight from the ball of the foot.
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Key Segments of Women’s Luxury Footwear Industry Survey
Women’s Luxury Footwear Market by Product:
- Women’s Luxury Boots
- Women’s Luxury Heels & Pumps
- Women’s Luxury Sandals & Flats
- Women’s Luxury Casuals, Sneakers & Sports Shoes
Women’s Luxury Footwear Market by Material:
- Rubber Footwear
- Leather Footwear
- Polyester Footwear
- Velvet Footwear
- Canvas Footwear
- Textile Footwear
- Others
Women’s Luxury Footwear Market by Price Range:
- US$ 300-499
- US$ 500-699
- US$ 700-999
- US$ 1,000-1,299
- US$ 1,300-1,599
- US$ 1,600 & Above
Women’s Luxury Footwear Market by Sales Channel:
- Offline Sales of Women’s Luxury Footwear
- Department Stores
- Specialty Stores
- Monobrand Stores
- Off-price Stores
- Others
- Online Sales of Women’s Luxury Footwear
Women’s Luxury Footwear Market by Region
- North America Women’s Luxury Footwear Market
- Latin America Women’s Luxury Footwear Market
- Europe Women’s Luxury Footwear Market
- East Asia Women’s Luxury Footwear Market
- South Asia & Pacific Women’s Luxury Footwear Market
- Middle East & Africa (MEA) Women’s Luxury Footwear Market
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