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Couture, fashion and leather goods

Report: Global luxury fashion market to reach $402B by 2028, up from $281B in 2022

November 8, 2023

Giorgio Armani Neve Fall Winter 2023-24 collection. Image: Giorgio Armani, photographer @brett_lloyd⁣, model @valeriescherzinger Giorgio Armani Neve fall/winter 2023-24 collection. Image: Giorgio Armani, photographer @brett_lloyd⁣, model @valeriescherzinger

 

By Staff reports

The global luxury fashion market size was valued at $280.92 billion in 2022 and is expected to reach $401.73 billion by 2028, growing at a compounded annual growth rate of 6.14 percent.

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