Gucci bags, Rolex watches, Versace gowns, etc. are the brands and fashion luxury products that signify money and status representing the Global Luxury Fashion Market.
The luxury fashion market has been in constant growth phase over the past several years. China is the largest consumer of luxury goods contributing 30% of the market share. ˜Luxury™ is a representation of what society determines this concept is. Luxury Fashion is defined as an established image in the mind of consumers that comprises association about a strong degree of exclusiveness, extraordinariness, superiority, aesthetics, rarity, price, and quality. Fashion brands are steady to adopt e-commerce while shoppers are more comfortable in buying high-end stuff online. With online collaboration, fashion companies have experienced a major decline in brick-and-mortar traffic resulting in reduced store operating costs, innovation in-store experience, and re-evaluated store networks to attract customers.
