Consumer Goods Market Report

16-aug-19 The global luxury apparel market size is expected to reach USD 84.04 billion by 2025, expanding at a CAGR of 3.5% over the forecast period, according to a new report by Grand View Research, Inc. Several characteristics includingrise in the number of millionaires coupled with brand loyalty is projected to drive the growth. Consumer perception that luxury goods will contribute to greater social acceptance, is anticipated to further fuel the market. Increasing disposable income and consumer spending on luxury products are also prominent factors driving the demand. Luxury clothes are usually fashionable, trendy, high-class, and expensive. Luxury apparel companies not only focus on providing latest looks but they also provide apparel based on cultural trends and street culture to attract vast consumer base. For instance Indian brand Raymond Group has introduced its new brand called Raymond Khadi to provide luxury khadi apparel. Such innovations and developments are anticipated