Luxury Goods in Turkey

LUXURY GOODS IN TURKEY

Euromonitor International

February 2019

LIST OF CONTENTS AND TABLES

Executive Summary

Growth Continues Despite Unfavourable Developments

Signs of Changing Preferences

New Luxury Brands Continue To Enter the Turkish Market

Internet Retailing A Promising Channel

Further Growth Expected Over the Forecast Period

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

Sources

Summary 1 Research Sources

Headlines

Prospects

the Health and Wellness Trend Benefits Luxury Hotels

Turkey Welcoming An Increasing Number of Chinese Tourists

Average Occupancy Rate and Room Rate for Luxury Hotels Starting To Increase

Competitive Landscape

New Luxury Hotel Openings and Investments Continue

Further Ban on Booking Platforms on the Horizon

Competition From Smaller Boutique Hotels Intensifies

Category Data

Table 10 Sales in Luxury Hotels: Value 2013-2018

Table 11 Sales in Luxury Hotels: % Value Growth 2013-2018

Table 12 Sales in Luxury Hotels by Country of Origin: % Value 2013-2017

Table 13 NBO Company Shares in Luxury Hotels: % Value 2013-2017

Table 14 LBN Brand Shares in Luxury Hotels: % Value 2014-2017

Table 15 Forecast Sales in Luxury Hotels: Value 2018-2023

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

Headlines

Prospects

Political Environment Impacts Fine Wines/champagne and Spirits

Higher Unit Prices

Manufacturers Focus on Higher Quality Products

Competitive Landscape

Fine Wines/champagne and Spirits Remains A Fairly Fragmented Category

Advertisements for Alcoholic Drinks Are Banned in Turkey

Duty Free Shops and Purchases Abroad Remain A Threat

Category Data

Table 17 Sales of Fine Wines/Champagne and Spirits by Category: Value 2013-2018

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

Table 19 NBO Company Shares of Fine Wines/Champagne and Spirits: % Value 2013-2017

Table 20 LBN Brand Shares of Fine Wines/Champagne and Spirits: % Value 2014-2017

Table 21 Distribution of Fine Wines/Champagne and Spirits by Format: % Value 2013-2018

Table 22 Forecast Sales of Fine Wines/Champagne and Spirits by Category: Value 2018-2023

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

Headlines

Prospects

Category Growth Driven by Suvs

New Trends in Luxury Cars in Turkey

Luxury Car Makers Expand Their Operations in Turkey

Competitive Landscape

Mercedes-benz Remains the Leading Player in Luxury Cars in Turkey

New Retail Concepts

Second-hand Luxury Car Market Continues To Be A Threat

Category Data

Table 24 Sales of Luxury Cars: Value 2013-2018

Table 25 Sales of Luxury Cars: % Value Growth 2013-2018

Table 26 NBO Company Shares of Luxury Cars: % Value 2013-2017

Table 27 LBN Brand Shares of Luxury Cars: % Value 2014-2017

Table 28 Forecast Sales of Luxury Cars: Value 2018-2023

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

Headlines

Prospects

Growth of Personal Luxury Driven by Millennials and Digitalisation

Brandalism - An Appetite for Disruption

Challenges To Growth

Competitive Landscape

Luxottica Remains the Leading Player in Personal Luxury

Strong Competition Between Well-known Luxury Brands

Leading Brands Benefit From the Opening of New Outlets in 2018

Category Data

Table 30 Sales of Personal Luxury by Category: Value 2013-2018

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

Table 32 NBO Company Shares of Personal Luxury: % Value 2013-2017

Table 33 LBN Brand Shares of Personal Luxury: % Value 2014-2017

Table 34 Forecast Sales of Personal Luxury by Category: Value 2018-2023

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

Headlines

Prospects

Designer Goods for Men Becoming A Growth Driver

Turkey Has Successfully Positioned Itself As Both A Manufacturing and Design Hub

Designer-brand Collaborations Continue

Competitive Landscape

Boyner Decides To Cancel Beymen Ipo Due To Weak Demand

the Most Frequently Used Advertising and Promotional Tools

Chanel Increasingly Focusing on Social Media

Category Data

Table 36 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2013-2018

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

Table 38 NBO Company Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2013-2017

Table 39 LBN Brand Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2014-2017

Table 40 Distribution of Designer Apparel and Footwear (Ready-to-Wear) by Format: % Value 2013-2018

Table 41 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2018-2023

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

Headlines

Prospects

Women's Luxury Sunglasses Continues To Perform Well

Optical Shops Remain the Leading Distribution Channel

Counterfeit Products A Major Threat

Competitive Landscape

Luxottica Remains the Clear Category Leader

Change in the Competitive Environment

Promotional and Marketing Activities for Luxury Eyewear

Category Data

Table 43 Sales of Luxury Eyewear by Category: Value 2013-2018

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

Table 45 NBO Company Shares of Luxury Eyewear: % Value 2013-2017

Table 46 LBN Brand Shares of Luxury Eyewear: % Value 2014-2017

Table 47 Distribution of Luxury Eyewear by Format: % Value 2013-2018

Table 48 Forecast Sales of Luxury Eyewear by Category: Value 2018-2023

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

Headlines

Prospects

Luxury Costume Jewellery Continues To Outperform Luxury Fine Jewellery

Women Remain the Key Purchasers of Jewellery in Turkey

Affordable Luxury Helps To Drive Growth

Competitive Landscape

New Brands Continue To Enter the Turkish Market

Ethical Issues Growing in Importance

Success of Domestic Luxury Jewellery

Category Data

Table 50 Sales of Luxury Jewellery by Category: Value 2013-2018

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

Table 52 NBO Company Shares of Luxury Jewellery: % Value 2013-2017

Table 53 LBN Brand Shares of Luxury Jewellery: % Value 2014-2017

Table 54 Distribution of Luxury Jewellery by Format: % Value 2013-2018

Table 55 Forecast Sales of Luxury Jewellery by Category: Value 2018-2023

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

Headlines

Prospects

Women's Luxury Bags and Small Leather Goods Continues To Perform Particularly Well

Signs of Shifting Preferences

Trends in Luxury Travel Goods

Competitive Landscape

LVMH Moët Hennessy Louis Vuitton Leads the Category

Counterfeit Bags and Luggage A Major Cause for Concern

Affordable Luxury Brands Posting Strong Growth

Category Data

Table 57 Sales of Luxury Leather Goods: Value 2013-2018

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

Table 59 NBO Company Shares of Luxury Leather Goods: % Value 2013-2017

Table 60 LBN Brand Shares of Luxury Leather Goods: % Value 2014-2017

Table 61 Distribution of Luxury Leather Goods by Format: % Value 2013-2018

Table 62 Forecast Sales of Luxury Leather Goods: Value 2018-2023

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

Headlines

Prospects

Blurring the Lines

Buying Behaviour of Turkish Consumers

Luxury Wearables Continues To Evolve

Competitive Landscape

the Most Coveted Brands in Luxury Portable Consumer Electronics

Bankruptcy of Vertu

Introduction of New Luxury Wearables Leads To Increased Competition

Category Data

Table 64 Sales of Luxury Portable Consumer Electronics by Category: Value 2013-2018

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

Table 66 NBO Company Shares of Luxury Portable Consumer Electronics: % Value 2013-2017

Table 67 LBN Brand Shares of Luxury Portable Consumer Electronics: % Value 2014-2017

Table 68 Distribution of Luxury Portable Consumer Electronics by Format: % Value 2013-2018

Table 69 Forecast Sales of Luxury Portable Consumer Electronics by Category: Value 2018-2023

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

Headlines

Prospects

Millennials Attracted To Luxury Swiss Watch Brands

Launch of Luxury Watches for Women

Affordable Luxury Is on the Rise

Competitive Landscape

Free-floating Swiss Franc Results in Tighter Profit Margins

Many Anniversaries To Celebrate

2018 Fifa World Cup Supports Sales of Luxury Timepieces

Category Data

Table 71 Sales of Luxury Timepieces by Category: Value 2013-2018

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

Table 73 NBO Company Shares of Luxury Timepieces: % Value 2013-2017

Table 74 LBN Brand Shares of Luxury Timepieces: % Value 2014-2017

Table 75 Distribution of Luxury Timepieces by Format: % Value 2013-2018

Table 76 Forecast Sales of Luxury Timepieces by Category: Value 2018-2023

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

Headlines

Prospects

Buying Behaviour of Turkish Consumers

Heavy Usage of Electronic Devices A Major Threat To the Category

Non-grocery Specialists Dominate Sales Although Internet Retailing Continues To Gain Ground

Competitive Landscape

Montblanc Remains the Leading Brand

Rising Popularity of Limited Edition Writing Instruments

Competition From Non-luxury Brands Intensifies

Category Data

Table 78 Sales of Luxury Writing Instruments and Stationery: Value 2013-2018

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

Table 80 NBO Company Shares of Luxury Writing Instruments and Stationery: % Value 2013-2017

Table 81 LBN Brand Shares of Luxury Writing Instruments and Stationery: % Value 2014-2017

Table 82 Distribution of Luxury Writing Instruments and Stationery by Format: % Value 2013-2018

Table 83 Forecast Sales of Luxury Writing Instruments and Stationery: Value 2018-2023

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

Headlines

Prospects

Millennials the Key Drivers of Super Premium Beauty and Personal Care

Super Premium Beauty and Personal Care Products for Men Will Continue To Support Growth

Competitive Landscape

Digital Marketing Is on the Rise

Galeries Lafayette Drives Demand for Premium Beauty

Super Premium Colour Cosmetics Benefit From the Entry of Fashion Brands

Category Data

Table 85 Sales of Super Premium Beauty and Personal Care by Category: Value 2013-2018

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

Table 87 NBO Company Shares of Super Premium Beauty and Personal Care: % Value 2013-2017

Table 88 LBN Brand Shares of Super Premium Beauty and Personal Care: % Value 2014-2017

Table 89 Distribution of Super Premium Beauty and Personal Care by Format: % Value 2013-2018

Table 90 Forecast Sales of Super Premium Beauty and Personal Care by Category: Value 2018-2023

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