Europe’s Luxury Fashion Market Set to Hit Nearly $85 Billion by 2030

Market outlook to 2030 Europe’s luxury fashion market was valued at $75.05 billion in 2024 and is projected to reach $85.34 billion by 2030, growing at a CAGR of around 2.16%.

This forecast reflects a mature market where heritage brands remain strong, but growth will rely on capturing younger, digitally native consumers and expanding into new channels.​ By product type, apparel holds the largest share at over 30%, fueled by affluent Millennials and Gen Z who see luxury ready-to-wear and statement pieces as extensions of identity.

The report notes that Italy dominates regional share thanks to its long-standing craftsmanship in leather goods, footwear, and accessories, and its concentration of powerhouse brands and ateliers.​ Who is buying and where The women’s segment shows the fastest growth with a CAGR of about 2.42%, as brands continue to cater to female consumers’ appetite for curated wardrobes, investment accessories, and beauty-adjacent luxury.

By generation, Gen X currently holds the largest market share, valuing quality, practicality, and timeless design from established maisons such as Chanel, Louis Vuitton, and Gucci.​ On the channel side, wholesale remains the dominant…