The women luxury footwear market is projected to reach USD 15,171.0 million in 2023, compared to USD 14,288.2 million in 2022. Anticipated to grow at a moderate compound annual growth rate (CAGR) of 5.5% from 2023 to 2033, the industry is forecasted to achieve a value of USD 25,954.6 million by the end of 2033.
The women’s luxury footwear market has close ties with the fashion industry. Brands often rely on celebrity endorsements collaborations and showcases at fashion events. Brands use these strategies to reach a wider audience.
The women’s luxury footwear market is, at times, at the whims of fashion. The fashion trends are ever-changing and thus the market is quite volatile. Keeping up with trends can become a challenge for the brands in the industry. The manufacturers of women’s luxury footwear are therefore compelled to keep experimenting and introducing new products in the market.
Key Takeaways from the Women’s Luxury Footwear Market
- The women’s luxury footwear market is forecasted to reach a market size of USD 25,954.6 million in 2033.
- Sandals and flats are proving to be the most attractive options for consumers in the women’s luxury footwear industry. In 2023, sandals and flats are anticipated to hold 4% of the market share by product type.
- Rubber is the material most commonly found in women’s luxury footwear. In 2023, rubber is expected to make up 3% of the market share by material type.
- The United States continues to dominate the women’s luxury footwear market. In 2023, the United States is forecasted to contribute 7% of the market share.
- In 2023, the Chinese market is expected to contribute 1% of the market share.
- France’s status as a fashion-friendly country helps the women’s luxury footwear market. In 2023, France is expected to account for 8% of the market share.
Key Companies in the Women Luxury Footwear Market
- Kering
- Louis Vuitton
- Burberry
- Caleres
- Jimmy Choo PLC
- Hermes
- Christian Dior
- Gucci
- Chanel
- Prada SpA
- John Lobb
- The ALDO Group Inc.
- Tapestry Inc.
Competition Analysis of the Women’s Luxury Footwear Market
The brands in the women’s luxury footwear market have to keep pace with the trends in the market. Diversifying portfolios to make sure a wide range of products is available is the priority for many companies in the market. Some prominent companies in the market are Kering, Louis Vuitton, Burberry, Caleres, and Jimmy Choo PLC.
Complete Market Review: A Full Report Analysis
Recent Developments in the Women’s Luxury Footwear Market
- In September 2023, Journee Collection introduced its Supernaturals range of footwear in the market. The range is designed with consumers’ comfort as a priority.
- Also in September 2023, Jimmy Choo announced the SS24 collection. The collection comes in various hues and patterns, with an emphasis on the look of the product.
- Again in September 2023, Italian brand Geox introduced a range of footwear, partnering with Spanish actress Penelope Cruz. The range was designed by the actress and her sister, Mónica Cruz, and aims to combine style with comfort.
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