Global revenues from the luxury goods market are expected to rise by 13.5% in 2023, to $354.8 billion. High-end goods related to fashion and cosmetics and fragrances are set to spur the annual increase, as sales from these categories surge by 14.7%. 

If you’re thinking about starting a business in this lucrative sector, you’ll need to better understand it—starting with knowing what the leading luxury goods companies are. Here’s a list of the largest luxury goods companies, ranked by their market capitalization.

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Top luxury retailers: 2023

Topping the list of luxury goods companies sorted by their market values is LVMH Moët Hennessy Louis Vuitton, popularly known as LVMH. As of September 2023, the French company is valued at $424.1 billion. LVMH’s market capitalization has been rising rapidly over the past decade and has more than quadrupled since 2013, when it recorded at $91.6 billion. Given LVMH’s market value and the luxury fashion industry’s accelerating growth rates, it’s no wonder the company currently also ranks among the biggest clothing companies in the world

LVMH’s lead as the top luxury retailer is a significant one. The second-largest luxury goods company, Hermès, has a market value of $219.3 billion—nearly half of LVMH’s. Third on the list is Dior, which is a subsidiary of LVMH, with a market cap of $155 billion. LVMH, Hermès, and Dior are currently the only luxury goods companies with a value of over $100 billion. 

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Another French company, EssilorLuxottica, and Geneva-headquartered Compagnie Financière Richemont (commonly known as Richemont) round out the five largest luxury goods retailers. They are valued at $86.9 billion and $81.4 billion, respectively. 

Kering, which owns high-end brands including Gucci, Bottega Veneta, and Balenciaga, is sixth on the list of the top luxury goods companies. Its market value is $65.7 billion. India’s Titan Company ranks next, with a market capitalization of $33.3 billion. It is followed by:

  1. Moncler: $18.9 billion
  2. Prada: $17.15 billion
  3. Chow Tai Fook: $15.6 billion

Of these top 10 luxury retailers, eight are based in Europe, with five of them in France alone, highlighting the continent’s dominance in the luxury goods market. The other two (Titan Company and Chow Tai Fook) are based in Asia.

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