The United Kingdom luxury goods market was valued at USD 20.10 Billion in 2024. The industry is expected to grow at a CAGR of 5.70% during the forecast period of 2025-2034 to attain a valuation of USD 34.99 Billion by 2034.
Base Year
Historical Period
Forecast Period
As per industry reports, the UK imports of wristwatches, battery-powered and with a case accounted for a total value of USD 5,408.63K with major imports from Switzerland, China, and Spain.
In June 2024, Marks and Spencer announced the launch of a new clothing repairs and alteration service to boost sustainable habits among customers.
In June 2024, fast-fashion online brand Shein notified the launch of its resale platform in the United Kingdom and Europe.
Compound Annual Growth Rate
5.7%
Value in USD Billion
2025-2034
*this image is indicative*
| United Kingdom Luxury Goods Market Report Summary | Description | Value |
| Base Year | USD Billion | 2024 |
| Historical period | USD Billion | 2018-2024 |
| Forecast Period | USD Billion | 2025-2034 |
| Market Size 2024 | USD Billion | 20.10 |
| Market Size 2034 | USD Billion | 34.99 |
| CAGR 2018-2024 | Percentage | XX% |
| CAGR 2025-2034 | Percentage | 5.70% |
| CAGR 2025-2034 - Market by Region | England | 6.6% |
| CAGR 2025-2034 - Market by Type | Watches and Jewellery | 6.4% |
| CAGR 2025-2034 - Market by Distribution Channel | Online | 7.4% |
| Market Share by Region 2024 | Scotland | XX% |
The luxury goods market is projected to witness substantial growth due to numerous factors. These include increasing income levels, personal customization options, a shift towards e-commerce for luxury shopping, rising D2C sales, changing consumer values, and a focus on British heritage. Additionally, there is a growing emphasis on luxury products made sustainably through ethically sourced materials.
Moreover, prominent market players are using strategies such as brand storytelling to resonate with their target audience by relating their products with the consumers’ core values. For instance, UK Luxury fashion house- Burberry Group plc deploys a large-scale storytelling campaign where it hosts live performances and interviews of British artists and promotes them through its website and social media handles. This has increased profits for both the parties and established brand identity which has influenced purchasing decisions and boosted market growth.
Furthermore, as a result of rapid technological developments, augmented reality (AR) solutions are being integrated into the fashion retail industry by key players such as Chanel and Ralph Lauren, among others to provide a highly immersive in-store experience to consumers so that they can make informed decisions and conveniently buy luxury goods such as clothes, bags, and accessories that align with their style and values.
“United Kingdom Luxury Goods Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
Market Breakup by End Use
Market Breakup by Distribution Channel
Market Breakup by Region
| CAGR 2025-2034 - Market by | Type |
| Watches and Jewellery | 6.4% |
| Perfumes and Cosmetics | 6.1% |
| Clothing | XX% |
| Bags/Purse | XX% |
| Others | XX% |
| CAGR 2025-2034 - Market by | Distribution Channel |
| Online | 7.4% |
| Offline | XX% |
| CAGR 2025-2034 - Market by | Region |
| England | 6.6% |
| Wales | XX% |
| Scotland | XX% |
| Northern Ireland | XX% |
Based on distribution channel, the market is mainly divided into online and offline. Online distribution channels are expected to grow at a CAGR of 7.4% over the forecast period. These channels are growing in popularity due to the boom in e-commerce sector and integration with AR technology which offers several advantages such as special discounts for price-conscious consumers, an immersive experience, a wide range of choices, and convenient return and refund policies, among others. On the other hand, offline channels also hold a considerable portion in the market share as they are majorly used to buy luxury goods such as perfumes, cosmetics, watches, jewellery and bags, among others that require quality assurance before purchase.
Market players are leveraging technology to generate online sales and develop brand awareness.
United Kingdom Luxury Goods Market Size
United Kingdom Luxury Goods Market Growth
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The market is estimated to grow at a CAGR of 5.70% between 2025 and 2034.
The major drivers are rising disposable income, changing consumer preferences, and increasing role of ecommerce channels.
The key trends of the luxury goods market in the United Kingdom include the usage of augmented reality in retailing, growing focus on sustainability, and growing global demand for various kinds of luxury goods such as bags, handbags, and clothing items.
Based on region, the market is mainly divided into England, Wales, Scotland, Northern Ireland.
Based on distribution channels, the market is segmented into online and offline.
The key players in the market are Chanel Limited, Kering SA, Rolex SA, Hermès International S.A., Giorgio Armani S.p.A., Ralph Lauren Corporation, Compagnie Financière Richemont SA, Prada SpA, VALENTINO S.p.A., Tiffany & Co., among others.
In 2024, the market attained a value of nearly USD 20.10 Billion.
The market is estimated to witness a healthy growth in the forecast period of 2025-2034 to reach about USD 34.99 Billion by 2034.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2024 |
| Historical Period | 2018-2024 |
| Forecast Period | 2025-2034 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by End Use |
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| Breakup by Distribution Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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