The global luxury market is set to grow six to eight per cent this year. Customers are responding to targeted strategies, and top performing brands are already winning over the customers of tomorrow. Currency fluctuations will have an impact, but the healthy trend is expected to continue across all regions and customer segments. Chinese consumers continue to stand out as a growth driver for the industry, and are more fashion-savvy and digitally advanced than ever before.

Canada is growing while performance in Latin America is mixed. The region as a whole is expected to grow between three to five per cent in 2018. Mainland China is expected to account for the lion’s share of growth in 2018. Brands are learning how to cater to local consumers, often young and heavily influenced by social media.

Across rest of Asia, Hong Kong and Macau continue on their recovery trajectory. South Korea benefits from visitors from China, but political tensions in the region could have a crucial impact on 2018 growth trends. Dubai remains stable and supported by international tourists, while Australia is set to benefit from a larger store footprint. Online continues to gain ground as boundaries blur with traditional physical channels.