Future Market Insights Research Report On Women’s Luxury Footwear Market

13 April 2022, Mumbai:

High-Net-Worth Individuals (HNWI) and Working Women Catalyzing Women’s Luxury Footwear Market Expansion: FMI Report.

The recent past has observed an increase in the number of HNWI population in 2021. Globally, the HNWI population reached 22.4 million, and their total wealth accounted for US$ 61,275 Bn in 2021.

Europe accounted for the high growth rate of the HNWI population, with almost 5.6 Mn HNWI population.

ALSO READ ICRA: Footwear industry revenues to keep growing till 2023

This leads to the high purchasing power of individuals.

In addition, the growing working women population and women’s labor force participation in regions such as Japan, the United Kingdom, and France help increase their purchasing power to buy luxury footwear.

On the back of these factors, the women’s luxury footwear market is estimated to be valued at US$ 30 Bn in 2022, and expected to expand at a healthy CAGR during the forecast period of 2022-2029. In 2022, worldwide sales of women’s luxury footwear are mostly contributed by sandals and flats casual as compared to other categories (boots, heels & pumps, and casual, sneakers & sports shoes) in the market.

RELATED NEWS High footwear prices compelling buyers to defer purchases: Walkaroo International

Key Takeaways

- Women’s Luxury Footwear Market · Europe is expected to remain prominent in the global women’s luxury footwear market, owing to the high concentration of luxury footwear manufacturers such as JIMMY CHOO PLC, Hermes, Christian Dior, Gucci, Chanel, etc.

Top Trends in Women’s Luxury Footwear Market

The women’s footwear market contributes a high market revenue share as compared to men’s. Changing lifestyles, growing fashion concerns, and celebrity endorsements have a significant impact on the global footwear market.

Join our community on Linkedin