Luxury Goods in Singapore

LUXURY GOODS IN SINGAPORE

Euromonitor International

February 2019

LIST OF CONTENTS AND TABLES

Executive Summary

Experiential and Personal Luxury Grow Moderately; Luxury Cars Decline

Singapore Put on the Global Map Via Milestone Events

Personal Luxury Highly Fragmented While Marina Bay Sands Rules the Hotel Market

Store-based Retailing Remains Dominant, But Internet Retailing Sees Rapid Growth

Threat Lies in US Trade Conflict; Tourism Push To Promote Luxury Shopping

Market Indicators

Table 1 Number of High Net Worth Individuals (HNWI): 2013-2018

Market Data

Table 2 Sales of Luxury Goods by Category: Value 2013-2018

Table 3 Sales of Luxury Goods by Category: % Value Growth 2013-2018

Table 4 Inbound Receipts for Luxury Goods by Country of Origin: Value 2013-2018

Table 5 NBO Company Shares of Luxury Goods: % Value 2013-2017

Table 6 LBN Brand Shares of Luxury Goods: % Value 2014-2017

Table 7 Distribution of Luxury Goods by Format and Category: % Value 2018

Table 8 Forecast Sales of Luxury Goods by Category: Value 2018-2023

Table 9 Forecast Sales of Luxury Goods by Category: % Value Growth 2018-2023

Table 10 Forecast Sales of Luxury Goods by Category: % Value Growth 2018-2023

Sources

Summary 1 Research Sources

Headlines

Prospects

Sustained Growth in Number of Tourist Arrivals Supports Demand

Luxury Hotels Embrace the Use of Technology

New Hotel Openings on the Horizon

Competitive Landscape

Marina Bay Sands Remains As the Popular Choice

Competition Intensifies With Influx of New Hotels

Intercontinental Hotels Group Plc Sees Dynamic Growth

Category Data

Table 11 Sales in Luxury Hotels: Value 2013-2018

Table 12 Sales in Luxury Hotels: % Value Growth 2013-2018

Table 13 Sales in Luxury Hotels by Country of Origin: % Value 2013-2017

Table 14 NBO Company Shares in Luxury Hotels: % Value 2013-2017

Table 15 LBN Brand Shares in Luxury Hotels: % Value 2014-2017

Table 16 Forecast Sales in Luxury Hotels: Value 2018-2023

Table 17 Forecast Sales in Luxury Hotels: % Value Growth 2018-2023

Headlines

Prospects

Luxury Whiskies Outperforms the Rest of the Category With Its "cool" Image

Fine Champagne Grows Stagnant Due To Cheaper Alternatives

Internet Retailing Continues To See Strong Growth From A Low Base

Competitive Landscape

Moët Hennessy Diageo Singapore Pte Ltd Leads

New Entrants Expected To Drive Growth But With Increased Fragmentation

Old-fashioned Image Negatively Impacts Luxury Brandy and Cognac

Category Data

Table 18 Sales of Fine Wines/Champagne and Spirits by Category: Value 2013-2018

Table 19 Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2013-2018

Table 20 NBO Company Shares of Fine Wines/Champagne and Spirits: % Value 2013-2017

Table 21 LBN Brand Shares of Fine Wines/Champagne and Spirits: % Value 2014-2017

Table 22 Distribution of Fine Wines/Champagne and Spirits by Format: % Value 2013-2018

Table 23 Forecast Sales of Fine Wines/Champagne and Spirits by Category: Value 2018-2023

Table 24 Forecast Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2018-2023

Headlines

Prospects

Government Efforts To Halt Car Population Growth

Electric Vehicles Hold Growth Potential

Tesla Yet To Officially Enter Singapore

Competitive Landscape

Leading Car Manufacturers Look To Gain Share

Audi on Demand Aims To Spur Demand

Alpina Sees Dynamic Growth

Category Data

Table 25 Sales of Luxury Cars: Value 2013-2018

Table 26 Sales of Luxury Cars: % Value Growth 2013-2018

Table 27 NBO Company Shares of Luxury Cars: % Value 2013-2017

Table 28 LBN Brand Shares of Luxury Cars: % Value 2014-2017

Table 29 Forecast Sales of Luxury Cars: Value 2018-2023

Table 30 Forecast Sales of Luxury Cars: % Value Growth 2018-2023

Headlines

Prospects

Economic Growth Boosts Sales

Challenges Hinder Growth Potential

Concept of Pop-up Stores

Competitive Landscape

Fragmented Competitive Landscape for Personal Luxury in Singapore

Tapestry Inc Aims To Diversify and Increase Value Shares

Gucci Benefits From Bringing Eyewear Back in House

Category Data

Table 31 Sales of Personal Luxury by Category: Value 2013-2018

Table 32 Sales of Personal Luxury by Category: % Value Growth 2013-2018

Table 33 NBO Company Shares of Personal Luxury: % Value 2013-2017

Table 34 LBN Brand Shares of Personal Luxury: % Value 2014-2017

Table 35 Forecast Sales of Personal Luxury by Category: Value 2018-2023

Table 36 Forecast Sales of Personal Luxury by Category: % Value Growth 2018-2023

Headlines

Prospects

Designer Apparel and Footwear Sees Recovery

Improving In-store Experiences

Pop-ups on the Rise

Competitive Landscape

Burberry Maintains the Leading Position

Highly Fragmented Category

Ralph Lauren Sees Growth While Other Players Struggle

Category Data

Table 37 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2013-2018

Table 38 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: % Value Growth 2013-2018

Table 39 NBO Company Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2013-2017

Table 40 LBN Brand Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2014-2017

Table 41 Distribution of Designer Apparel and Footwear (Ready-to-Wear) by Format: % Value 2013-2018

Table 42 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2018-2023

Table 43 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: % Value Growth 2018-2023

Headlines

Prospects

Luxury Spectacle Frames To Show Declining Sales

Use of Social Media To Generate Awareness

Internet Retailing on the Rise

Competitive Landscape

Luxottica Leads Luxury Eyewear

Fierce Competition From Mass Segment

Gucci Brings Eyewear Back in House

Category Data

Table 44 Sales of Luxury Eyewear by Category: Value 2013-2018

Table 45 Sales of Luxury Eyewear by Category: % Value Growth 2013-2018

Table 46 NBO Company Shares of Luxury Eyewear: % Value 2013-2017

Table 47 LBN Brand Shares of Luxury Eyewear: % Value 2014-2017

Table 48 Distribution of Luxury Eyewear by Format: % Value 2013-2018

Table 49 Forecast Sales of Luxury Eyewear by Category: Value 2018-2023

Table 50 Forecast Sales of Luxury Eyewear by Category: % Value Growth 2018-2023

Headlines

Prospects

Luxury Jewellery Sees Steady Growth Despite Increase in Tourist Arrivals

Social Media Boom for Statement Jewellery Increases Demand for Fashion Jewellery

Leading Brands Embrace Omnichannel Approach

Competitive Landscape

Tiffany & Co Refreshes Its Brand As It Targets Young Women

Threat To Global Luxury Brands Lies in the Growing Success of Local Indie Brands

Gucci Sees Dynamic Growth and Eyes Expansion

Category Data

Table 51 Sales of Luxury Jewellery by Category: Value 2013-2018

Table 52 Sales of Luxury Jewellery by Category: % Value Growth 2013-2018

Table 53 NBO Company Shares of Luxury Jewellery: % Value 2013-2017

Table 54 LBN Brand Shares of Luxury Jewellery: % Value 2014-2017

Table 55 Distribution of Luxury Jewellery by Format: % Value 2013-2018

Table 56 Forecast Sales of Luxury Jewellery by Category: Value 2018-2023

Table 57 Forecast Sales of Luxury Jewellery by Category: % Value Growth 2018-2023

Headlines

Prospects

Athleisure Trend Supports the Growth of Some Leather Goods

Digital Marketing Is Growing in Luxury Leather Goods

Luxury Travel Goods Sees Strong Growth

Competitive Landscape

Louis Vuitton Maintains Leading Position

Rising Presence of Second-hand Designer Bags As Indirect Competitors

Prada Has Great Potential in Singapore

Category Data

Table 58 Sales of Luxury Leather Goods: Value 2013-2018

Table 59 Sales of Luxury Leather Goods: % Value Growth 2013-2018

Table 60 NBO Company Shares of Luxury Leather Goods: % Value 2013-2017

Table 61 LBN Brand Shares of Luxury Leather Goods: % Value 2014-2017

Table 62 Distribution of Luxury Leather Goods by Format: % Value 2013-2018

Table 63 Forecast Sales of Luxury Leather Goods: Value 2018-2023

Table 64 Forecast Sales of Luxury Leather Goods: % Value Growth 2018-2023

Headlines

Prospects

Luxury Mobile Phones Posts Limited Sales

Luxury Brands Focus on Wearables

Lack of Variety Limits Growth Potential

Competitive Landscape

Tag Heuer Launches New Product

Porsche Design Looks To Take Up Mantle in Luxury Mobile Phones

Vertu Goes Into Liquidation

Category Data

Table 65 Sales of Luxury Portable Consumer Electronics by Category: Value 2013-2018

Table 66 Sales of Luxury Portable Consumer Electronics by Category: % Value Growth 2013-2018

Table 67 NBO Company Shares of Luxury Portable Consumer Electronics: % Value 2013-2017

Table 68 LBN Brand Shares of Luxury Portable Consumer Electronics: % Value 2014-2017

Table 69 Distribution of Luxury Portable Consumer Electronics by Format: % Value 2013-2018

Table 70 Forecast Sales of Luxury Portable Consumer Electronics by Category: Value 2018-2023

Table 71 Forecast Sales of Luxury Portable Consumer Electronics by Category: % Value Growth 2018-2023

Headlines

Prospects

Positive Performance on the Back of A Rise in Tourist Arrival

Changes in Retail Landscape

New Sharing Service Potential Threat To Luxury Timepieces

Competitive Landscape

Challenging Times in 2017

Innovative Marketing To Build Awareness

Customisation Generates Interest

Category Data

Table 72 Sales of Luxury Timepieces by Category: Value 2013-2018

Table 73 Sales of Luxury Timepieces by Category: % Value Growth 2013-2018

Table 74 NBO Company Shares of Luxury Timepieces: % Value 2013-2017

Table 75 LBN Brand Shares of Luxury Timepieces: % Value 2014-2017

Table 76 Distribution of Luxury Timepieces by Format: % Value 2013-2018

Table 77 Forecast Sales of Luxury Timepieces by Category: Value 2018-2023

Table 78 Forecast Sales of Luxury Timepieces by Category: % Value Growth 2018-2023

Headlines

Prospects

Declining Consumer Base Calls for Diversification

Players Diversify To Retain Sales

Internet Retailing Remains A Small Channel for Luxury Writing Instruments and Stationery

Competitive Landscape

Montblanc Leads in Singapore

Limited Edition and Collectible Products Drive Interest

Competition From Mass Segment Rises

Category Data

Table 79 Sales of Luxury Writing Instruments and Stationery: Value 2013-2018

Table 80 Sales of Luxury Writing Instruments and Stationery: % Value Growth 2013-2018

Table 81 NBO Company Shares of Luxury Writing Instruments and Stationery: % Value 2013-2017

Table 82 LBN Brand Shares of Luxury Writing Instruments and Stationery: % Value 2014-2017

Table 83 Distribution of Luxury Writing Instruments and Stationery by Format: % Value 2013-2018

Table 84 Forecast Sales of Luxury Writing Instruments and Stationery: Value 2018-2023

Table 85 Forecast Sales of Luxury Writing Instruments and Stationery: % Value Growth 2018-2023

Headlines

Prospects

Awareness of Skin Damage From External Factors Drives Skin Care Sales

Colour Cosmetics Sees Dynamic Growth

Fragrances Stagnates Due To Travel Retail Sweep and Unit Price Decline

Competitive Landscape

Chanel Retains the Lead

Gucci Fragrances Benefit From Rejuvenated Brand Image

Singapore: A Test Hub for Global Brands To Learn About Asian Consumers

Category Data

Table 86 Sales of Super Premium Beauty and Personal Care by Category: Value 2013-2018

Table 87 Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2013-2018

Table 88 NBO Company Shares of Super Premium Beauty and Personal Care: % Value 2013-2017

Table 89 LBN Brand Shares of Super Premium Beauty and Personal Care: % Value 2014-2017

Table 90 Distribution of Super Premium Beauty and Personal Care by Format: % Value 2013-2018

Table 91 Forecast Sales of Super Premium Beauty and Personal Care by Category: Value 2018-2023

Table 92 Forecast Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2018-2023