Luxury goods company sales rebound to beat pre-pandemic levels—Deloitte Global report finds 73 of the Top 100 luxury goods companies reported sales growth in FY2021

NEW YORK, NY, USA, 30 NOVEMBER 2022 – The world’s Top 100 luxury goods companies generated aggregated revenue of US$305 billion in financial year 2021, representing a composite year-on-year increase of 21.5%, according to the 2022 edition of Global Powers of Luxury Goods, a new report from Deloitte Global, released today.

As the COVID-19 pandemic wanes, luxury goods companies are now presented with new opportunities arising from the “green transition” and progress towards a circular economy. Additionally, the ongoing digital revolution of the metaverse and Web3 is driving innovation and disruption in the luxury industry. The metaverse gives luxury companies an unprecedented opportunity to re-invent the luxury experience, build credibility, brand engagement and brand loyalty. Consumers are now able to interact with brands’ products and their essence in new ways through the digital reality.

“Although the global economic landscape presents many challenges, the appeal of the personal luxury goods sector consolidated over the past years. The sector is reinventing itself and has started a considerable transformation process, incorporating concepts such as sustainability, circular economy, innovation, straight to the core of companies’ growth strategies, shaping a completely new competitive scenario,” says Giovanni Faccioli, Fashion & Luxury Practice Co-Leader, Deloitte Italy. “Today, luxury goods companies highly value consumers’ demand by sharing their values and ethics and thanks to this new approach they can serve better their customers in terms of service, production and communication.”

Global Powers of Luxury Goods Top 100

The world’s Top 100 luxury goods companies generated revenue of US$305 billion in FY2021, rebounding from US$252 billion in the previous year, and exceeding US$281 billion in FY2019 (before the impact of the pandemic).

The composite performance of the Top 100 companies in FY2021 reflects a rebound (an increase of 21.5% year-on-year) as the impact of the pandemic lessened, with store re-openings and recovery in consumer demand. Seventy-three of the Top 100 companies reported growth in luxury goods sales in FY2021, compared to only 20 companies in FY2020.

Other key report findings:

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