Based on ongoing research around the world, monitoring closely all luxury sector, CPP has compiled a map of luxury markets with the criteria of potential for growth in 2013 / 2014
Countries with the highest potential of growth of their luxury markets
Mongolia / Indonesia / Australia / U.S.A / Colombia/ Chile / Brazil / South Africa / Turkey / Oman / Malaysia / Philippines / Mexico
Prada store Melbourne, Australia
Countries to avoid due to limited potential of their luxury markets:
Ukraine / Georgia / Republic of Moldova / Kazakhstan / Poland / Romania / Bulgaria / Serbia / Hungary / Czech Republic / Germany / Spain / Portugal / Greece / Cyprus / Republic of Tatarstan / Argentina
Countries with stagnant luxury markets:
India / Russia / Vietnam / Japan / South Korea /
Pavilion Luxury Mall, Kuala Lumpur, Malaysia
The criteria taken into consideration:
– luxury sales across most luxury sectors in 2011 and 2012
– overall economic environment
– taxation
– buying power
– size and evolution of the HNWI consumer target
– sales of luxury to nationals abroad
– number of new luxury store openings in 2011 and 2012 (fashion, jewelry, watches, accessories)
– luxury store closures in 2011 and 2012 (fashion, jewelry, watches, accessories)
CPP Luxury Industry Management Consultants Ltd
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