Luxury Goods in Italy
Euromonitor International
January 2021

List OF CONTENTS AND TABLES

EXECUTIVE SUMMARY
COVID-19 impact on luxury goods
COVID-19 country impact
Company response
Retailing shift
What next for luxury goods?
MARKET INDICATORS
Table 1 Number of High Net Worth Individuals (HNWI): 2015-2020
MARKET DATA
Table 2 Sales of Luxury Goods by Category: Value 2015-2020
Table 3 Sales of Luxury Goods by Category: % Value Growth 2015-2020
Table 4 Inbound Receipts for Luxury Goods by Country of Origin: Value 2015-2020
Table 5 NBO Company Shares of Luxury Goods: % Value 2015-2019
Table 6 LBN Brand Shares of Luxury Goods: % Value 2016-2019
Table 7 Distribution of Luxury Goods by Format and Category: % Value 2020
Table 8 Forecast Sales of Luxury Goods by Category: Value 2020-2025
Table 9 Forecast Sales of Luxury Goods by Category: % Value Growth 2020-2025
DISCLAIMER
GLOBAL MACROECONOMIC ENVIRONMENT
GLOBAL INDUSTRY ENVIRONMENT
SOURCES
Summary 1 Research Sources
KEY DATA FINDINGS
2020 IMPACT
A lack of international travellers severely damages value growth in 2020
Hotel closures and foodservice restrictions impact sales
New hotel openings delayed as COVID-19 impacts guest numbers
RECOVERY AND OPPORTUNITIES
Ongoing fear of COVID-19 across the early forecast period impacts sales
The cost of installing safety regulations dampens sales for players
Operators to communicate their offerings as premium, safe experiences
CATEGORY DATA
Table 10 Sales of Experiential Luxury by Category: Value 2015-2020
Table 11 Sales of Experiential Luxury by Category: % Value Growth 2015-2020
Table 12 NBO Company Shares of Experiential Luxury: % Value 2015-2019
Table 13 LBN Brand Shares of Experiential Luxury: % Value 2016-2019
Table 14 Forecast Sales of Experiential Luxury by Category: Value 2020-2025
Table 15 Forecast Sales of Experiential Luxury by Category: % Value Growth 2020-2025
KEY DATA FINDINGS
2020 IMPACT
Mandatory closures and a lack of international travel severely impacts sales
Surplus inventory puts a halt on new orders from luxury foodservice
Maintaining the luxury experience during a time of low footfall impacts profits
RECOVERY AND OPPORTUNITIES
Recovery will align with Italy's status as a safe location for international guests
Luxury dining players focus on local business to increase growth
Brands will focus on Italian culinary traditions to appeal to international travellers
CATEGORY DATA
Table 16 Sales in Luxury Foodservice: Value 2015-2020
Table 17 Sales in Luxury Foodservice: % Value Growth 2015-2020
Table 18 NBO Company Shares in Luxury Foodservice: % Value 2015-2019
Table 19 LBN Brand Shares in Luxury Foodservice: % Value 2016-2019
Table 20 Forecast Sales in Luxury Foodservice: Value 2020-2025
Table 21 Forecast Sales in Luxury Foodservice: % Value Growth 2020-2025
KEY DATA FINDINGS
2020 IMPACT
The cost of reopening for a lower level of consumers is too high for many hotels
Hotels located in remote areas away from crowds, perform better
Limited guests in luxury hotels impacts surrounding businesses
RECOVERY AND OPPORTUNITIES
Private holiday homes will be competition across the early forecast period
Luxury hotels focus on safe, premium offerings to appeal to international consumers
Players focus on offering premium wedding destinations to drive growth
CATEGORY DATA
Table 22 Sales in Luxury Hotels: Value 2015-2020
Table 23 Sales in Luxury Hotels: % Value Growth 2015-2020
Table 24 Sales in Luxury Hotels by Country of Origin: % Value 2015-2020
Table 25 NBO Company Shares in Luxury Hotels: % Value 2015-2019
Table 26 LBN Brand Shares in Luxury Hotels: % Value 2016-2019
Table 27 Forecast Sales in Luxury Hotels: Value 2020-2025
Table 28 Forecast Sales in Luxury Hotels: % Value Growth 2020-2025
KEY DATA FINDINGS
2020 IMPACT
E-commerce records growth, however, this is mainly concentrated on lower-cost goods
A lack of weddings and events dampens sales of champagne and fine wines
Wine producers face tough challenges as COVID-19 leads to a surplus of goods
RECOVERY AND OPPORTUNITIES
International consumers will boost growth, as players focus on e-commerce strategies to increase international sales
Other fine wine will drive the highest sales and value growth across the forecast period
Wine tasting locations will play an essential role in the recovery of the landscape
CATEGORY DATA
Table 29 Sales of Fine Wines/Champagne and Spirits by Category: Value 2015-2020
Table 30 Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2015-2020
Table 31 NBO Company Shares of Fine Wines/Champagne and Spirits: % Value 2015-2019
Table 32 LBN Brand Shares of Fine Wines/Champagne and Spirits: % Value 2016-2019
Table 33 Distribution of Fine Wines/Champagne and Spirits by Format: % Value 2015-2020
Table 34 Forecast Sales of Fine Wines/Champagne and Spirits by Category: Value 2020-2025
Table 35 Forecast Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2020-2025
KEY DATA FINDINGS
2020 IMPACT
A strong decline recorded as showrooms close and price-sensitivity increases
The Italian government provides support and boosts demand
Despite the outbreak of COVID-19, sales of electric cars remain strong
RECOVERY AND OPPORTUNITIES
COVID-19 may lead manufacturers to adapt their business models
The electric revolution will drive sales across the forecast period
Technology provides a luxurious experience while consumers look for eco-friendly options
CATEGORY DATA
Table 36 Sales of Premium and Luxury Cars: Value 2015-2020
Table 37 Sales of Premium and Luxury Cars: % Value Growth 2015-2020
Table 38 NBO Company Shares of Premium and Luxury Cars: % Value 2015-2019
Table 39 LBN Brand Shares of Premium and Luxury Cars: % Value 2016-2019
Table 40 Forecast Sales of Premium and Luxury Cars: Value 2020-2025
Table 41 Forecast Sales of Premium and Luxury Cars: % Value Growth 2020-2025
KEY DATA FINDINGS
2020 IMPACT
Store closures, a lack of events and price-sensitivity impacts sales in 2020
Travel restrictions into Italy lead to a decline in sales for personal luxury
Sustainable activities are placed on hold; however, consumers still demand eco-friendly offerings
RECOVERY AND OPPORTUNITIES
Personal luxury designers become creative when showcasing new collections
Personal luxury players invest in their online presence to boost sales
Stores implement appointments for premium customers, allowing them to feel safe when shopping
CATEGORY DATA
Table 42 Sales of Personal Luxury by Category: Value 2015-2020
Table 43 Sales of Personal Luxury by Category: % Value Growth 2015-2020
Table 44 NBO Company Shares of Personal Luxury: % Value 2015-2019
Table 45 LBN Brand Shares of Personal Luxury: % Value 2016-2019
Table 46 Distribution of Personal Luxury by Format: % Value 2015-2020
Table 47 Forecast Sales of Personal Luxury by Category: Value 2020-2025
Table 48 Forecast Sales of Personal Luxury by Category: % Value Growth 2020-2025
KEY DATA FINDINGS
2020 IMPACT
Store closures and home seclusion leads to a decline in sales
Sales of formal apparel declines as consumers work from home and avoid gatherings
Consumers curb spending as they remain cautious about the economic recession
RECOVERY AND OPPORTUNITIES
International consumers and the return of social events drives sales
Instore events, premium services and social media will drive sales of luxury goods
Major luxury players raise price-points across the forecast period
CATEGORY DATA
Table 49 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2015-2020
Table 50 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: % Value Growth 2015-2020
Table 51 NBO Company Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2015-2019
Table 52 LBN Brand Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2016-2019
Table 53 Distribution of Designer Apparel and Footwear (Ready-to-Wear) by Format: % Value 2015-2020
Table 54 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2020-2025
Table 55 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: % Value Growth 2020-2025
KEY DATA FINDINGS
2020 IMPACT
Luxury eyewear records a decline despite remaining open, as price-sensitivity impacts sales
COVID-19 increases the polarisation between high-end and opening price-point eyewear
Luxottica is holding dividends as it anticipates a sales loss due to the COVID-19 outbreak
RECOVERY AND OPPORTUNITIES
The continued opportunity to work from home benefits sales of eyewear
Players are set to create collections that align with consumer trends
Spectacle players will focus on in-store experiences, while e-commerce sales rise for sunglasses
CATEGORY DATA
Table 56 Sales of Luxury Eyewear by Category: Value 2015-2020
Table 57 Sales of Luxury Eyewear by Category: % Value Growth 2015-2020
Table 58 NBO Company Shares of Luxury Eyewear: % Value 2015-2019
Table 59 LBN Brand Shares of Luxury Eyewear: % Value 2016-2019
Table 60 Distribution of Luxury Eyewear by Format: % Value 2015-2020
Table 61 Forecast Sales of Luxury Eyewear by Category: Value 2020-2025
Table 62 Forecast Sales of Luxury Eyewear by Category: % Value Growth 2020-2025
KEY DATA FINDINGS
2020 IMPACT
Small independent jewellers struggle with COVID-19 restrictions
Little room for independent jewellers to adapt price-points of luxury brands
Retailers have positive forecasts for the Christmas season
RECOVERY AND OPPORTUNITIES
Designer brands are in a better position to sell jewellery through e-commerce
New collections over the forecast period will reduce the content of gold and silver
Artisanal jewellery drive growth across the forecast period
CATEGORY DATA
Table 63 Sales of Luxury Jewellery by Category: Value 2015-2020
Table 64 Sales of Luxury Jewellery by Category: % Value Growth 2015-2020
Table 65 NBO Company Shares of Luxury Jewellery: % Value 2015-2019
Table 66 LBN Brand Shares of Luxury Jewellery: % Value 2016-2019
Table 67 Distribution of Luxury Jewellery by Format: % Value 2015-2020
Table 68 Forecast Sales of Luxury Jewellery by Category: Value 2020-2025
Table 69 Forecast Sales of Luxury Jewellery by Category: % Value Growth 2020-2025
KEY DATA FINDINGS
2020 IMPACT
Store closures and price-sensitivity leads to a decline in sales
Sales are negatively impacted by a lack of international consumers
The lack of social occasions and events leads to a decline in new purchases
RECOVERY AND OPPORTUNITIES
The return of international travellers boosts growth across the forecast period
The growth of e-commerce will be a challenge for some brands over the forecast period
The return of experiential luxury will drive growth for luxury travel goods
CATEGORY DATA
Table 70 Sales of Luxury Leather Goods: Value 2015-2020
Table 71 Sales of Luxury Leather Goods: % Value Growth 2015-2020
Table 72 NBO Company Shares of Luxury Leather Goods: % Value 2015-2019
Table 73 LBN Brand Shares of Luxury Leather Goods: % Value 2016-2019
Table 74 Distribution of Luxury Leather Goods by Format: % Value 2015-2020
Table 75 Forecast Sales of Luxury Leather Goods: Value 2020-2025
Table 76 Forecast Sales of Luxury Leather Goods: % Value Growth 2020-2025
KEY DATA FINDINGS
2020 IMPACT
Luxury wearables suffer less of a decline, with new product launches continuing in 2020
Players increase their presence on e-commerce, responding to consumers buying habits
A lack of international travellers dampens sales in 2020
RECOVERY AND OPPORTUNITIES
Luxury mobile phones continue to decline, as luxury wearables perform well
Unit prices will remain high as luxury portable consumer electronics target high- earners
Tag Heuer is set to post good results across the forecast period
CATEGORY DATA
Table 77 Sales of Luxury Portable Consumer Electronics by Category: Value 2015-2020
Table 78 Sales of Luxury Portable Consumer Electronics by Category: % Value Growth 2015-2020
Table 79 NBO Company Shares of Luxury Portable Consumer Electronics: % Value 2015-2019
Table 80 LBN Brand Shares of Luxury Portable Consumer Electronics: % Value 2016-2019
Table 81 Distribution of Luxury Portable Consumer Electronics by Format: % Value 2015-2020
Table 82 Forecast Sales of Luxury Portable Consumer Electronics by Category: Value 2020-2025
Table 83 Forecast Sales of Luxury Portable Consumer Electronics by Category: % Value Growth 2020-2025
KEY DATA FINDINGS
2020 IMPACT
Declining sales challenge brands, who aim to increase appeal
Players are more optimistic about December sales for luxury timepieces
E-commerce growth fails to match other products, as consumers prefer physical stores
RECOVERY AND OPPORTUNITIES
Consumers remain cautious in 2021; however, the forecast is set to be positive
Players focus on safe and exclusive instore experiences to encourage store sales
Men's luxury timepieces record the highest sales, while women's see the fastest growth
CATEGORY DATA
Table 84 Sales of Luxury Timepieces by Category: Value 2015-2020
Table 85 Sales of Luxury Timepieces by Category: % Value Growth 2015-2020
Table 86 NBO Company Shares of Luxury Timepieces: % Value 2015-2019
Table 87 LBN Brand Shares of Luxury Timepieces: % Value 2016-2019
Table 88 Distribution of Luxury Timepieces by Format: % Value 2015-2020
Table 89 Forecast Sales of Luxury Timepieces by Category: Value 2020-2025
Table 90 Forecast Sales of Luxury Timepieces by Category: % Value Growth 2020-2025
KEY DATA FINDINGS
2020 IMPACT
Fewer celebratory occasions impacts sales of luxury writing instruments and stationery
Working from home decreases sales of luxury writing instruments and stationery
Christmas offers an opportunity to boost sales of luxury writing instruments and stationery
RECOVERY AND OPPORTUNITIES
Recovery aligns to celebratory occasions, gift-giving and consumers' confidence to return to stores
Increasing digitalisation challenges sales of luxury writing instruments and stationery
E-commerce offers strong potential, with convenient shipping and delivery appealing to consumers
CATEGORY DATA
Table 91 Sales of Luxury Writing Instruments and Stationery: Value 2015-2020
Table 92 Sales of Luxury Writing Instruments and Stationery: % Value Growth 2015-2020
Table 93 NBO Company Shares of Luxury Writing Instruments and Stationery: % Value 2015-2019
Table 94 LBN Brand Shares of Luxury Writing Instruments and Stationery: % Value 2016-2019
Table 95 Distribution of Luxury Writing Instruments and Stationery by Format: % Value 2015-2020
Table 96 Forecast Sales of Luxury Writing Instruments and Stationery: Value 2020-2025
Table 97 Forecast Sales of Luxury Writing Instruments and Stationery: % Value Growth 2020-2025
KEY DATA FINDINGS
2020 IMPACT
Luxury fragrances records the steepest decline due to lockdowns and home seclusion
The closure of all spas negatively impacts sales of super premium beauty and personal care
The lack of international travellers severely dampens growth in 2020
RECOVERY AND OPPORTUNITIES
The return of social occasions and events boosts growth for super premium beauty and personal care
E-commerce grows, as consumers become accustomed to the ease and convenience of the platform
Anti-ageing drives growth, as super premium skincare records high sales
CATEGORY DATA
Table 98 Sales of Super Premium Beauty and Personal Care by Category: Value 2015-2020
Table 99 Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2015-2020
Table 100 NBO Company Shares of Super Premium Beauty and Personal Care: % Value 2015-2019
Table 101 LBN Brand Shares of Super Premium Beauty and Personal Care: % Value 2016-2019
Table 102 Distribution of Super Premium Beauty and Personal Care by Format: % Value 2015-2020
Table 103 Forecast Sales of Super Premium Beauty and Personal Care by Category: Value 2020-2025
Table 104 Forecast Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2020-2025