The demand for luxury goods in Malaysia continues to grow at a healthy pace in 2024 buoyed by renewed consumer confidence, an uptick in tourism and a rapid rise in the number of wealthy individuals in the country. The further expansion of luxury retail space in Malaysia is also providing great growth opportunities for sales of personal luxury goods.
Malaysia announced that it will provide visa-free entry for Chinese tourists from The People’s Republic of China from 1 December 2023 to 31 December 2024. Under this initiative tourists from China are permitted to stay for up to 30 days for each entry without a visa.
International luxury houses such as Louis Vuitton, Kering, and Richemont continue to play a central role in personal luxury bolstered by aggressive expansion and old stores undergoing refurbishment. For example, the latest Louis Vuitton flagship store with three floors was opened in Pavilion Kuala Lumpur in 2024 with the grand opening featuring an appearance from popular brand ambassador Jackson Wang.
Standalone stores and department stores continue to lead the distribution of luxury goods in 2024. The opening of several new luxury shopping malls like The Exchange TRX and Pavilion Damansara Heights, continue to boost offline sales with these malls providing space for the rapid expansion of new stores from luxury goods brands.
The outlook for personal luxury in Malaysia is generally positive with there being ongoing investment in the retail infrastructure with the opening of more luxury malls expected in the first few years of the forecast period. For example, Merdeka 118 will be the next luxury shopping landmark which is set to open in 2025.
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Understand the latest market trends and future growth opportunities for the Luxury Goods industry in Malaysia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Luxury Goods
This is an aggregation of: Personal Luxury, Fine Wines/Champagne and Spirits, Luxury Cars and Experiential Luxury.
See All of Our DefinitionsThis report originates from Passport, our Luxury Goods research and analysis database.
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