Luxury Footwear Market | Covid-19 Impact Analysis

Luxury Footwear Market Insights

Luxury and unique products are first choice of every millionaires, luxury footwear is one of them. According to report CNBC over 6 lakh millennial millionaires in the US. Luxury footwear market is likely to witness an impressive CAGR of 5.4% during the forecast period. Customization is also available in luxury footwear in different textiles, and style to make them comfortable, and light weight as per customer preference which increase the demand in the market.

Market Share Analysis

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Luxury Footwear Market Share: By Product Type

Based on the product type, the luxury footwear market is segmented as formal shoes and causal shoes. The formal shoes segment held the larger share of the market in 2019, whereas causal shoes are expected to grow during the forecast period. Formal shoes are the first choice in corporate and workplace as they reflect one’s professionalism.

Luxury Footwear Market Share: By End-Use Type

Based on the end-use type, the luxury footwear market is segmented as men, women, and children. The women’s segment dominates the market, as there is significant increase of working women worldwide. According to research by the European Union there, almost 50% workforce are women. Further, the men’s segment is likely to have the fastest growth during the forecast year.

Luxury Footwear Market Share: By Distribution Channel Type

Based on the distribution channel, the market us segment as online and offline. The offline segment dominated the market with more than 60% share of the global revenue in 2019. Whereas the online segment is estimated to have a faster growth over the forecast year. The growing popularity of e-commerce websites such as amazon.com and time saving in online shopping are propelling the growth during the forecast period.

Luxury Footwear Market Share: By Region

In terms of regions, North America is estimated to be the largest as well as the fastest-growing luxury footwear market during the forecast period, followed by Europe and Asia Pacific. The growth of the market is driven by the presence of top millionaires with large disposal money, which is generating huge demand for luxury footwears and the presence of a large number of luxury footwear manufacturers in North America and Europe.

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Some of the major luxury footwear manufacturers are-

• LVMH
• Chanel S.A.
• Burberry
• Silvano Lattanzi
• Prada S.p.A
• A.Testoni
• Dr. Martens
• Base London
• John Lobb Bootmaker
• Salvatore Ferragamo
• Lottusse - Mallorca
• Adidas AG.

Market Scope & Segmentation

Luxury cars, watches, houses, and clothes are the ways to show one’s richness and are the status symbols by the millionaires. Luxury footwear is no exception. The demand for luxury footwear is directly associated with the increase of millionaires across the globe. Luxury footwear showcases one’s standard of living and provides unique footwears of different designs to showcase elegance with causal shoes to professionalism with formal shoes.

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

The luxury footwear market is segmented into the following categories. 

Luxury Footwear Market Size, Share, & Forecast, by Product Type:

• Formal Shoes (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Casual Shoes (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Luxury Footwear Market Size, Share, & Forecast, by End-Use Type:

• Men (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Women (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Children (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Luxury Footwear Market Size, Share, & Forecast, by Distribution Channel Type:

• Offline (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Online (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Luxury Footwear Market Size, Share, & Forecast, by Region:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Research Methodology

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the product types by end-use type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].