Designer apparel and footwear (ready-to-wear) will remain the most important value category within personal luxury over the forecast period, due to the growing interest among Mexicans in luxury fashion and accessories. Brands that already have a presence in the country will continue with their expansion plans, while the category is likely to attract new brands due to the growing global interest in the Mexican market.
Driven by the growth in tourism across different parts of the country, personal luxury is gradually decentralising from Mexico City to reach other regions of significant relevance. Not only are tourist numbers to the country’s beaches extremely relevant for various personal luxury items, including luxury sun glasses or luxury leather goods, but new tourist spots of importance are beginning to develop both in the Pacific area and also in the interior of the country.
The outlook for personal luxury in Mexico looks promising, with retail value sales (at constant 2024 prices) predicted to record a 4% CAGR over the forecast period to reach MXN140 billion in 2029. The most relevant distribution channel for personal luxury will continue to be general merchandise stores, particularly department stores such as El Palacio de Hierro.
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Understand the latest market trends and future growth opportunities for the Personal Luxury industry in Mexico with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Personal Luxury industry in Mexico, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Personal Luxury
This is an aggregation of Designer Clothing and Footwear (Ready-to-Wear), Luxury Eyewear, Luxury Jewellery, Luxury Timepieces, Luxury Leather Goods, Luxury Writing Instruments and Stationery, Luxury Portable Consumer Electronics and Super Premium Beauty and Personal Care.
See All of Our DefinitionsThis report originates from Passport, our Personal Luxury research and analysis database.
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