Investors may want to keep an eye on the luxury fashion market.
Between 2020 and 2031, the market is expected to balloon from $75.1 billion to more than $115 billion, according to Transparency Market Research.
“There is a significant demand for comfortable, stylish, and environmentally responsible luxury clothes as a result of growing urbanization and rising level of disposable income. Product makers are putting up efforts to boost luxury clothes manufacturing in order to meet increasing demand around the world. Consumers in developing nations are becoming more loyal to brands, which is likely to fuel demand for high-end clothing.” In addition, they noted, “Expansion of the e-commerce business has opened up a plethora of options for luxury apparel makers and distributors.”
All could be beneficial for companies such as Gaucho Group Holdings Inc. (NASDAQ: VINO), LVMH Moet Hennessy Louis Vuitton (OTC: LVMUY), Kering SA (OTC: PPRUY), Nordstrom Inc. (NYSE: JWN), and Burberry Group (OTC: BURBY).