The global luxury apparel market is expanding at 13.2 per cent. The market is dominated by the Asia Pacific region. This region is witnessing rapid growth due to rising disposable incomes along with a change in lifestyles of the people and an improved standard of living especially in the emerging nations of China and India. Europe, on the other hand, has already attained maturity because of the presence of many luxury brands.

Luxury apparels are a symbol of class and only people with a good financial background can afford luxury apparels. Luxury brands are investing huge sums of money on research and development strategies. Luxury apparels are in demand among youngsters. Another factor envisioned to boost demand is the emergence of online shopping services. It is easier to do shopping online instead of having to go to places and try on various outfits. Easy return facility has further boosted the market and attracted more prospective consumers. Digital marketing advertises the benefits of online shopping and enhances the urge for developing a classy taste of fashion among people.

However, value-added taxes imposed on luxury apparel and the high dominance of key players are restraining the market growth in developing economies. The high cost of raw materials is also hampering the luxury apparel market growth.