Luxury Goods in France

Luxury Goods in France
Euromonitor International
January 2021

List OF CONTENTS AND TABLES

EXECUTIVE SUMMARY
COVID-19 impact on luxury goods
COVID-19 country impact
Company response
Retailing shift
What next for luxury goods?
MARKET INDICATORS
Table 1 Number of High Net Worth Individuals (HNWI): 2015-2020
MARKET DATA
Table 2 Sales of Luxury Goods by Category: Value 2015-2020
Table 3 Sales of Luxury Goods by Category: % Value Growth 2015-2020
Table 4 Inbound Receipts for Luxury Goods by Country of Origin: Value 2015-2020
Table 5 NBO Company Shares of Luxury Goods: % Value 2015-2019
Table 6 LBN Brand Shares of Luxury Goods: % Value 2016-2019
Table 7 Distribution of Luxury Goods by Format and Category: % Value 2020
Table 8 Forecast Sales of Luxury Goods by Category: Value 2020-2025
Table 9 Forecast Sales of Luxury Goods by Category: % Value Growth 2020-2025
DISCLAIMER
GLOBAL MACROECONOMIC ENVIRONMENT
GLOBAL INDUSTRY ENVIRONMENT
SOURCES
Summary 1 Research Sources
KEY DATA FINDINGS
2020 IMPACT
Experiential luxury fails to live up to expectations as the category is hit by the national lockdown
Sales to domestic and international consumers suffer as luxury hotels is hit hard by the pandemic
Category suffers from closures even after lockdown ends
RECOVERY AND OPPORTUNITIES
Grey outlook for occupancy rates in the short term
Category faces competition from short term rentals
Instagrammable staycations will be good news for domestic sales in the coming years
CATEGORY DATA
Table 10 Sales of Experiential Luxury by Category: Value 2015-2020
Table 11 Sales of Experiential Luxury by Category: % Value Growth 2015-2020
Table 12 NBO Company Shares of Experiential Luxury: % Value 2015-2019
Table 13 LBN Brand Shares of Experiential Luxury: % Value 2016-2019
Table 14 Forecast Sales of Experiential Luxury by Category: Value 2020-2025
Table 15 Forecast Sales of Experiential Luxury by Category: % Value Growth 2020-2025
KEY DATA FINDINGS
2020 IMPACT
Category suffers a triple hit from the COVID-19 pandemic
Category continues to benefit from the reputation of fine French food
Paris-based outlets struggle as consumers fear COVID-19 infection
RECOVERY AND OPPORTUNITIES
The category has a long road to recovery ahead
Lower budget for pop-up cafés as events are cancelled around the country
Companies turn to Instagrammable experiences in the absence of big events
CATEGORY DATA
Table 16 Sales in Luxury Foodservice: Value 2015-2020
Table 17 Sales in Luxury Foodservice: % Value Growth 2015-2020
Table 18 NBO Company Shares in Luxury Foodservice: % Value 2015-2019
Table 19 LBN Brand Shares in Luxury Foodservice: % Value 2016-2019
Table 20 Forecast Sales in Luxury Foodservice: Value 2020-2025
Table 21 Forecast Sales in Luxury Foodservice: % Value Growth 2020-2025
KEY DATA FINDINGS
2020 IMPACT
Category hit hard by COVID-19 restrictions as travel restrictions limit inbound tourism
Hotels remain closed as occupancy rates plummet
Companies target domestic consumers as international clients are slow to return
RECOVERY AND OPPORTUNITIES
Occupancy rates to remain low in the short term
Category faces growing competition from short term rentals
The provinces are set to recover faster than Paris
CATEGORY DATA
Table 22 Sales in Luxury Hotels: Value 2015-2020
Table 23 Sales in Luxury Hotels: % Value Growth 2015-2020
Table 24 Sales in Luxury Hotels by Country of Origin: % Value 2015-2020
Table 25 NBO Company Shares in Luxury Hotels: % Value 2015-2019
Table 26 LBN Brand Shares in Luxury Hotels: % Value 2016-2019
Table 27 Forecast Sales in Luxury Hotels: Value 2020-2025
Table 28 Forecast Sales in Luxury Hotels: % Value Growth 2020-2025
KEY DATA FINDINGS
2020 IMPACT
Sales in fine wines/champagne and spirits decline as the category fails to benefit from stockpiling effect
COVID-19 puts a pin in special occasions, with fewer occasions to raise a toast
Losses felt across the board as even the leader Pernod-Ricard was hit by the pandemic
RECOVERY AND OPPORTUNITIES
The French are set to raise a toast to the end of COVID-19
French consumers maintain a taste for foreign and exotic spirits
Despite a poor delivery record, online purchases of grand crus are becoming more popular
CATEGORY DATA
Table 29 Sales of Fine Wines/Champagne and Spirits by Category: Value 2015-2020
Table 30 Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2015-2020
Table 31 NBO Company Shares of Fine Wines/Champagne and Spirits: % Value 2015-2019
Table 32 LBN Brand Shares of Fine Wines/Champagne and Spirits: % Value 2016-2019
Table 33 Distribution of Fine Wines/Champagne and Spirits by Format: % Value 2015-2020
Table 34 Forecast Sales of Fine Wines/Champagne and Spirits by Category: Value 2020-2025
Table 35 Forecast Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2020-2025
KEY DATA FINDINGS
2020 IMPACT
Premium and luxury cars contracts during the COVID-19 pandemic as consumers prioritise spending
Government aid plan encourages CO2 reduction and backs electric
Tesla and Fisker gain ground in France as consumers go electric
RECOVERY AND OPPORTUNITIES
Recovery in Asia signals good news for premium and luxury cars
Popularity of economical cars in France restricts growth for the category
Further governmental support for electric and hybrid cars to shape French buying habits
CATEGORY DATA
Table 36 Sales of Premium and Luxury Cars: Value 2015-2020
Table 37 Sales of Premium and Luxury Cars: % Value Growth 2015-2020
Table 38 NBO Company Shares of Premium and Luxury Cars: % Value 2015-2019
Table 39 LBN Brand Shares of Premium and Luxury Cars: % Value 2016-2019
Table 40 Forecast Sales of Premium and Luxury Cars: Value 2020-2025
Table 41 Forecast Sales of Premium and Luxury Cars: % Value Growth 2020-2025
KEY DATA FINDINGS
2020 IMPACT
Category suffers from lockdown and travel restrictions as airports stand empty
E-commerce sales pick up as store-based retailing collapses
Category faces big losses but continues to adapt to COVID-19 pandemic
RECOVERY AND OPPORTUNITIES
Category growth restricted as consumers tighten their purse strings
"Deconsumerism" trend restricts growth as sales of second hand products increase
The lipstick effect could save the category
CATEGORY DATA
Table 42 Sales of Personal Luxury by Category: Value 2015-2020
Table 43 Sales of Personal Luxury by Category: % Value Growth 2015-2020
Table 44 NBO Company Shares of Personal Luxury: % Value 2015-2019
Table 45 LBN Brand Shares of Personal Luxury: % Value 2016-2019
Table 46 Distribution of Personal Luxury by Format: % Value 2015-2020
Table 47 Forecast Sales of Personal Luxury by Category: Value 2020-2025
Table 48 Forecast Sales of Personal Luxury by Category: % Value Growth 2020-2025
KEY DATA FINDINGS
2020 IMPACT
Designer apparel and footwear (ready-to-wear) hit be the impact of national lockdown
Category left reeling from the cancellation of Paris Fashion Week
Players across the category suffered but most managed to limit damages by adapting
RECOVERY AND OPPORTUNITIES
Category eagerly awaits the return of non-European international consumers
Category reels from the impact of COVID-19 but all is not lost
COVID-19 could be good news for e-commerce
CATEGORY DATA
Table 49 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2015-2020
Table 50 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: % Value Growth 2015-2020
Table 51 NBO Company Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2015-2019
Table 52 LBN Brand Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2016-2019
Table 53 Distribution of Designer Apparel and Footwear (Ready-to-Wear) by Format: % Value 2015-2020
Table 54 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2020-2025
Table 55 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: % Value Growth 2020-2025
KEY DATA FINDINGS
2020 IMPACT
Sales of luxury spectacles suffer from the closure of opticians during French lockdown
Sun glasses hit by home seclusion but benefit from strong presence in e-commerce channels
The EssilorLuxottica collaboration faces up to the ambitions of Kering and LVMH
RECOVERY AND OPPORTUNITIES
Slow recovery expected as opticians yield ground to e-commerce
New reimbursement policy continues to restrict luxury eyewear
Growing e-commerce option attracts the next generation of consumers
CATEGORY DATA
Table 56 Sales of Luxury Eyewear by Category: Value 2015-2020
Table 57 Sales of Luxury Eyewear by Category: % Value Growth 2015-2020
Table 58 NBO Company Shares of Luxury Eyewear: % Value 2015-2019
Table 59 LBN Brand Shares of Luxury Eyewear: % Value 2016-2019
Table 60 Distribution of Luxury Eyewear by Format: % Value 2015-2020
Table 61 Forecast Sales of Luxury Eyewear by Category: Value 2020-2025
Table 62 Forecast Sales of Luxury Eyewear by Category: % Value Growth 2020-2025
KEY DATA FINDINGS
2020 IMPACT
Luxury jewellery the first to feel the brunt of the COVID-19 pandemic
Category suffers a huge setback in recovery from ‘gilets jaunes' crisis
Swarovski France SA faces tough competition from new entrants
RECOVERY AND OPPORTUNITIES
Supply and demand slow to recover as young consumers favour sustainable products
French invest in luxury jewellery to resell
E-commerce looks set to shake up luxury jewellery
CATEGORY DATA
Table 63 Sales of Luxury Jewellery by Category: Value 2015-2020
Table 64 Sales of Luxury Jewellery by Category: % Value Growth 2015-2020
Table 65 NBO Company Shares of Luxury Jewellery: % Value 2015-2019
Table 66 LBN Brand Shares of Luxury Jewellery: % Value 2016-2019
Table 67 Distribution of Luxury Jewellery by Format: % Value 2015-2020
Table 68 Forecast Sales of Luxury Jewellery by Category: Value 2020-2025
Table 69 Forecast Sales of Luxury Jewellery by Category: % Value Growth 2020-2025
KEY DATA FINDINGS
2020 IMPACT
Dynamic luxury leather goods also hit hard by the COVID-19 pandemic
Sales down as flights remain grounded during the COVID-19 pandemic
Louis Vuitton remains profitable as the brand targets younger generations
RECOVERY AND OPPORTUNITIES
A drop in social occasions and travel led to a risk of over-supply
Backpacks gain popularity at the expense of business bags
Category threatened by the growth of luxury second-hand sales
CATEGORY DATA
Table 70 Sales of Luxury Leather Goods: Value 2015-2020
Table 71 Sales of Luxury Leather Goods: % Value Growth 2015-2020
Table 72 NBO Company Shares of Luxury Leather Goods: % Value 2015-2019
Table 73 LBN Brand Shares of Luxury Leather Goods: % Value 2016-2019
Table 74 Distribution of Luxury Leather Goods by Format: % Value 2015-2020
Table 75 Forecast Sales of Luxury Leather Goods: Value 2020-2025
Table 76 Forecast Sales of Luxury Leather Goods: % Value Growth 2020-2025
KEY DATA FINDINGS
2020 IMPACT
Category suffers from absence of Asian tourists during COVID-19 pandemic
Sales fail to pick up with the end of lockdown
Luxury mobile phones continues to decline
RECOVERY AND OPPORTUNITIES
E-commerce to grow as COVID-19 drives consumers online
Players turn their attention to local consumers as international tourists are slow to return
Traditional watch companies make waves in the category
CATEGORY DATA
Table 77 Sales of Luxury Portable Consumer Electronics by Category: Value 2015-2020
Table 78 Sales of Luxury Portable Consumer Electronics by Category: % Value Growth 2015-2020
Table 79 NBO Company Shares of Luxury Portable Consumer Electronics: % Value 2015-2019
Table 80 LBN Brand Shares of Luxury Portable Consumer Electronics: % Value 2016-2019
Table 81 Distribution of Luxury Portable Consumer Electronics by Format: % Value 2015-2020
Table 82 Forecast Sales of Luxury Portable Consumer Electronics by Category: Value 2020-2025
Table 83 Forecast Sales of Luxury Portable Consumer Electronics by Category: % Value Growth 2020-2025
KEY DATA FINDINGS
2020 IMPACT
Category suffers a sudden drop in sales as prestigious Parisian outlets close their doors
COVID-19 calls an end to the category's recovery
Brands adapt to the COVID-19 environment with technological innovation
RECOVERY AND OPPORTUNITIES
Timepieces represent key gateway purchase for young affluent consumers
Category faces mounting pressure from non-luxury and sports products
Pre-owned sales threaten luxury timepieces
CATEGORY DATA
Table 84 Sales of Luxury Timepieces by Category: Value 2015-2020
Table 85 Sales of Luxury Timepieces by Category: % Value Growth 2015-2020
Table 86 NBO Company Shares of Luxury Timepieces: % Value 2015-2019
Table 87 LBN Brand Shares of Luxury Timepieces: % Value 2016-2019
Table 88 Distribution of Luxury Timepieces by Format: % Value 2015-2020
Table 89 Forecast Sales of Luxury Timepieces by Category: Value 2020-2025
Table 90 Forecast Sales of Luxury Timepieces by Category: % Value Growth 2020-2025
KEY DATA FINDINGS
2020 IMPACT
Category suffers declining sales as sales to domestic and international customers drop suddenly
Luxury writing instruments fares better than luxury stationery
Not even popular German brands can withstand the effects of COVID-19
RECOVERY AND OPPORTUNITIES
Luxury writing instruments and stationery fall to wayside as consumers opt for high-tech options
Category continues to suffer from a lack of non-European tourists
Shift to e-commerce shapes luxury writing instruments and stationery
CATEGORY DATA
Table 91 Sales of Luxury Writing Instruments and Stationery: Value 2015-2020
Table 92 Sales of Luxury Writing Instruments and Stationery: % Value Growth 2015-2020
Table 93 NBO Company Shares of Luxury Writing Instruments and Stationery: % Value 2015-2019
Table 94 LBN Brand Shares of Luxury Writing Instruments and Stationery: % Value 2016-2019
Table 95 Distribution of Luxury Writing Instruments and Stationery by Format: % Value 2015-2020
Table 96 Forecast Sales of Luxury Writing Instruments and Stationery: Value 2020-2025
Table 97 Forecast Sales of Luxury Writing Instruments and Stationery: % Value Growth 2020-2025
KEY DATA FINDINGS
2020 IMPACT
Sales decline as consumers relax their grooming regimes in home seclusion
Super premium beauty and personal care suffers as consumers prioritise their spending
Category hit by the closure of super premium retail outlets as France enters a strict lockdown
RECOVERY AND OPPORTUNITIES
Prospect of a lipstick effect uncertain
Consumers go natural when it comes to super premium beauty and personal care
Brands opt for omnichannel approaches as COVID-19 shakes up the category
CATEGORY DATA
Table 98 Sales of Super Premium Beauty and Personal Care by Category: Value 2015-2020
Table 99 Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2015-2020
Table 100 NBO Company Shares of Super Premium Beauty and Personal Care: % Value 2015-2019
Table 101 LBN Brand Shares of Super Premium Beauty and Personal Care: % Value 2016-2019
Table 102 Distribution of Super Premium Beauty and Personal Care by Format: % Value 2015-2020
Table 103 Forecast Sales of Super Premium Beauty and Personal Care by Category: Value 2020-2025
Table 104 Forecast Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2020-2025