法国奢侈品市场报告

2 |InternetRetailing | April 2025French consumers see consumption as pleasureand so, for them, restaurants, sports, culture,entertainment and even fashion are important totheir wellbeing and their essential French-ness. So, itis no surprise that luxury goods are important to theFrench market.But it goes deeper than that. French consumers areincreasingly attracted towards style and uniqueness,quality and local goods.With France the epicentre of the world ofhaute coutureand luxury cosmetics and perfumes, it is no surprisethat the French luxury market is a thriving one.According to RetailX research, the sector isgenerating€19bnin profitsfrom ecommerce alonein France, while profitability for the sector sits at animpressive70%.A third of salesin luxury in France are drivenbyapparel and fashion. When sportswear andathleisurewear are added to this, luxury apparelaccounts for nearlythree quartersof the Frenchluxury market.The rest is made up largely of sales of cosmetics andjewellery. However, it is worth noting howconsumerelectronicsare also starting to gain some groundas the sector looks towards the future, where luxurywearable tech is going to be all the rage.While this skew towards fashion and apparel isreflected in the brands most shopped by FrenchIntroduction luxury consumers, there is a growing trend for luxurytraffic to head towards a new breed ofspecialistand marketplace sites.The hunt forsecond hand and vintage luxuryhasseen a rise in the number of sites that cater to thepredominantly GenZ attraction to affordable luxury– indeed the most visited site in France for luxuryshoppers is now second-hand marketplace siteVestiaire Collective.Much of this has been driven by a growingethicaland environmental awarenessamong Frenchshoppers, young and old alike. France is at theforefront of drivingsustainabilityand Net Zero –the Paris Accord on greenhouse gas emissions was,of course, signed in the French capital – and this isseen in how its shoppers want to shop.This has seen a surge of interest in luxury brandsas they are seen to be long lasting, but only forthose brands that have embracedethical andenvironmental sourcing and production. Thesebrands are soaring ahead in both the primarymarket and the second-hand segment.Then there ispatriotism. France is the cradle ofluxury brands and luxury retail and French shoppersare keen to shop from brands that are French,produce distinctly French products and use, wherepossible, French raw materials.This then sums up the French luxury market:locallysourced, distinctlyFrenchdesign andstylewith thatje ne sais quoiand which meets strictenvironmental rules. ContentsMarket dynamicsMarket segmentsFrench luxury consumer behaviourChannels and devicesSustainabilityCustomer experiencePartner perspectiveLargest 50 French luxury sitesCOMPANY PROFILE CartierCOMPANY PROFILE GivenchyCOMPANY PROFILE L’OccitaneCOMPANY PROFILE Louis VuittonCOMPANY PROFILE Vestiaire CollectiveCOMPANY PROFILE Yves Saint LaurentThe road aheadFiguresEnd matterKnowledge partners 3 |InternetRetailing | April 2025The French luxury market is in fine fettle. Followingthe pandemic turndown in 2020 – which saw totalrevenues drop significantly from €19.1bn to €14.8bnas consumer confidence temporarily floundered– recovery across the sector has been strong. By2022, revenues were above €26bn and by 2023 wereapproaching €30bn.Profit, too, has followed a similar trajectory, rising bya staggering €10bn between the pandemic nadir of€9.6bn in 2020 to hitting €19.5bn by 2023.Both revenue and profit for the French luxury sectorhave kept pace with the wider French retail market,with revenues of the luxury sector consistentlyaround 30% behind those of the whole French retailmarket – demonstrating just how sizeable the Frenchluxury market is.The sector is also highly profitable. Profitability –the ratio of profit to revenue – for the sector hasmaintained a level of around 67% to 68% acrossthe past four years. In 2023 that ticked up to 70%and again rides along in line with the wider Frenchecommerce market.This is a reflection of how luxury, too, is now asignificant online retail sector. Pre-pandemic, luxurybrands tended to keep online at arms length,Market dynamicsThe French luxury market turns a healthyprofit, driven by consumers looking forcache, value and experiences 4 |InternetRetailing | April 2025trading on the spectacle and theatre of the in-storeexperience. Post-pandemic that has shifted andthe sector is now one that is at home online as it isinstore – as too are its customers.The profitability of the sector reflects how, despitehigher costs – of materials, marketing, real estateand more – the luxury sector is managing to sellsufficient volume and a sufficiently high priceto compete in terms of profitability at least withmainstream French retail.WHAT DRIVES THE MARKET?This profitability – in fact the success overall ofthe French luxury sector – is driven by a range ofeconomic and consumer-habit-based factors. As weshall see