2025年全球奢侈品牌分析报告

EXECUTIVE SUMMARY Theluxuryindustryclosed2025inanongoingphaseofnormalization,withgrowthexpectedtograduallyresumeinthesecondhalfofthecomingyear.Thepersonalluxurygoodssegmentisprojectedto remain stable at constant exchange rates and to decline by 2%at currentexchangerates,reaching an estimated market value of€358 billion,according to Bain.Traditionallyresilient,thesector hasnonetheless been impactedbythebroadereconomicslowdown,constrained by sustained macroeconomic pressures,geopolitical tensions,and consolidatingitsstructuralweight,particularlyinhardluxury.Withintheregion,Canadaalsorecordedasignificantincreaseovertheyear,strengtheningitsrelativecontribution. MEAemergedasthefastestgrowingregiononafullyearbasis,withactivationsup105%comparedwith 2024,supported by sustained luxury expansion in Gulf countries andacceleratingactivityinselectedAfricanmarkets suchasSouthAfrica.LATAMcontinuedto establishitselfasanemergingluxuryhub,postingrobustannualgrowthandprogressivelyclosingthegapwithmorematureAsianmarkets.SouthKoreaincreasedby12%yearoveryear,whileJapanrecordedastrongerannualriseof23%. Incontrast,overallmonitoredbrandactivationsincreasedby21%yearoveryearin2025.Acloseranalysisshowsthatthisgrowthwaslargelydrivenbythesecondhalfoftheyear,duringwhichactivations rose by 46%compared with H2 2024,according to Luxurynsight’sBrandwatchdata. Expandingculturalpower,reinforcingstrategicfoundations In2025,weobservedluxurybrandsrecalibratingtheirstrategiesinresponsetoanincreasinglycomplexand demanding environment,marked by structural shifts and heightened Physicalretailandlocalprecisionaskeydriversin2025 macroeconomicuncertainty.The year was defined by expanding cultural territories and experientialinfluence,asbrandsbroadenedtheirfootprintacrosssports,culture,art,cinemaormusic.Thisstrategicshiftreflectedadeliberateefforttoreachwideraudiences,buildstrongeremotionalresonance,andreinforceculturalauthoritywhilepreservingexclusivityandbrand Afteraslightslowdown in thefirsthalfof2025,brandssignificantly intensified activationeffortsinthelatterpartoftheyear,oneofthemostimportantperiodsofactivityfortheindustry.BetweenH12025andH22025,overallactivationsroseby39%,reaffirmingthecentralroleoftheyear-endcycle. Overthe year,beauty players accelerated a structural pivot toward longevity focusedpositioning,embedding scientific research and preventive health narratives to capturesustaineddemand,particularlyamongyoungerconsumersintheUnitedStatesandChina.Atthesametime,Indiaconsolidateditsroleasastrategicgrowthandinnovationhub,withglobalgroupsstrengtheninglocalcapabilitiesandembeddingoperationstosecureafirmer Activationdata further confirm the operational pivot toward market-specific initiativesobservedinourlastBrandwatchedition.In2025,localizedactivationsexpandedby40%,while globalinitiatives recorded aslightdecline of1%.Inthesecond half alone,market-focusedactivationsincreasedby65%,comparedwitha21%riseforglobalinitiatives. Acrosssectors,Fashion&LeatherGoodsfacedthebiggestdeclineinannualactivationvolumewhilePerfume&Cosmeticsexpandedsharply.Lookingatthetypeofactivations,2025data indicateasolidriseinretail-basedactivationsacrossallsegments,withthePerfumeandCosmeticssector leading.Conversely,product linked activations experienceda sector-wide Thewatches and jewelry industry prioritized selective market discipline and experientialelevationtotakeonthisyear’schallenges.Watchmakersrespondedtogeopoliticaluncertainty,risingproduction costs,and weaker demand in key markets by reassessing distribution,refiningpricingstructures,and prioritizingselectivepenetration.Inparallel,jewelrybrands MEAleadsemergingmarketmomentum Fromaregionalperspective,fullyear2025datacomparedwith2024confirmdiverginggrowthtrajectoriesacross markets.China remained the largest market by activation volume,recordingamoderateannualincreaseof16%.EuropeandAPACdeliveredamoredynamicyearoveryearexpansion,reflectingcontinuedregionalmomentum.NorthAmericapostedoneofthestrongest annual performances,with activations rising by 102%in 2025versus 2024, Takentogether,thesestrategicsignalsillustratethatluxuryhasentereditsnextcycledefinedbysharper selectivity,stronger cultural leverage,and differentiated regional momentum.Execution,ratherthanexpansionalone,willdeterminecompetitiveadvantage. THIS REPORT IS POWERED BYLY WATCHRichemontCompetitiveIntelligenceDataPlatform LYWatch is a competitive intelligence data platform that provides aholisticoverviewofluxurybrands’activationsover2025. GetacloserlookatFashion&LeatherGoods,Perfume&Cosmetics,Watches&JewelryandSports&Lifestyleindustries.Understandhowleadingbrandsaredeploying activation strategies across Product,Communication and RichemontMarketDemandForecastingPlatformTHIS REPORT IS POWERED BYLY TRENDS Byblending AI with fashion expertise,Heuritech analyzes real consumertrendsworldwide.Withthelargestfashiondatasetandthemostadvancedforecastingtechnology,itaccuratelyquantifies and predicts whatpeople 2025ACTIVATIONOVERVIEW H2 2025ACTIVA