August 2014 – GROWTH OF AUSTRALIAN PERSONAL LUXURY GOODS MARKET SHINES BRIGHT ON THE WORLD STAGE.
New research shows the Australian personal luxury goods market reached a combined sales revenue of AUD$2.7 billion in 2013, a resilient 7.8% estimated growth ahead of the global rate of 6.5% and second only to Japan’s year on year 12% figure.
The annual MO Report estimates the value of the Australian personal luxury goods sector in the categories of fashion apparel, fashion accessories, watches and fine jewellery (hard luxury), with the inclusion of premium beauty sales data. In 2013, all categories experienced an increase in revenue with the exception of apparel.
“Australia’s growth rate of 7.8% again tracks ahead of the global personal luxury goods market, highlighting the strength of the Australian market and spending power of both local and international consumers.”
The MO Report, is an annual report, now in its fourth year of release. The report aims to value the size of the premium and luxury personal goods sector in Australia to provide benchmark data to those operating in the market, as well as offer a general resource tool for new brand entrants and relevant stakeholders with general or working interests in the sector.