It is expected that the market for women’s luxury footwear would reach US$ 30 billion in 2022 and expand at a respectable CAGR from 2022 to 2029. There has been an increase in the number of HNWIs in recent years in 2021. There were 22.4 million HNWIs worldwide, and in 2021, their total wealth was US$ 61,275 billion. Europe experienced the fastest rate of growth in the HNWI population, with over 5.6 million HNWIs. People therefore have a lot of purchasing power. The participation of women in the workforce and the increase in the number of working women in countries like Japan, the UK, and France are further factors.
| Women’s Luxury Footwear Market Size (2022) | US$ 30 Bn |
| Sales Forecast (2029) | US$ 39 Bn |
| Global Market Growth Rate (2022 to 2029) | 5% CAGR |
| Share of Top 5 Women’s Luxury Footwear Suppliers | 55% |
In 2022, worldwide sales of women’s luxury footwear are mostly contributed by sandals and flats casual as compared to other categories (boots, heels & pumps, and casual, sneakers & sports shoes) in the market.
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Key Takeaways – Women’s Luxury Footwear Market
- Europe is expected to remain prominent in the global women’s luxury footwear market, owing to high concentration of luxury footwear manufacturers such as JIMMY CHOO PLC, Hermes, Christian Dior, Gucci, Chanel, etc.
- The sandals & flats segment is considered as key attributor to the global women’s luxury footwear market, which can be attributed to their availability in wide variety of designs.
- High exposure of consumers in websites such as Amazon, Walmart, etc., with 10% online penetration rate, support online retail in becoming the most lucrative sales channel.
Increasing number of high-net-worth individuals (HNI) led to a surge in demand for custom footwear. Advancements in technology such as 3D printing and advanced sensors would also push manufacturers to introduce innovative shoe designs.
Top Trends in Women’s Luxury Footwear Market
The women’s footwear market contributes high market revenue share as compared to men’s. Changing lifestyle, growing fashion concern, and celebrity endorsement have a significant impact on the global footwear market. The recent market trends in luxury footwear are – sustainable footwear, smart shoes, and athleisure trends. Different types of prints with huge popularity in the past include animal print boots, florals print, minimalist style heels, feather heels, bright chunky sneakers, big toe sandals, etc.
Competitive Landscape Analysis
The report highlights some prominent players in the global women’s luxury footwear market, which include Kering, Burberry, Caleres, Jimmy Choo PLC, and others. Market players primarily focuses on product design and innovation. Maison Baum, a Germany-based luxury footwear manufacturer, launched a pain free high heel in Q1 2019. The company uses its patented footbed technology and an insole with anatomical elevations to shift wearers’ weight from the ball of the foot.
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Key Segments of Women’s Luxury Footwear Industry Survey
Women’s Luxury Footwear Market by Product:
- Women’s Luxury Boots
- Women’s Luxury Heels & Pumps
- Women’s Luxury Sandals & Flats
- Women’s Luxury Casuals, Sneakers & Sports Shoes
Women’s Luxury Footwear Market by Material:
- Rubber Footwear
- Leather Footwear
- Polyester Footwear
- Velvet Footwear
- Canvas Footwear
- Textile Footwear
- Others
Women’s Luxury Footwear Market by Price Range:
- US$ 300-499
- US$ 500-699
- US$ 700-999
- US$ 1,000-1,299
- US$ 1,300-1,599
- US$ 1,600 & Above
Women’s Luxury Footwear Market by Sales Channel:
- Offline Sales of Women’s Luxury Footwear
- Department Stores
- Specialty Stores
- Monobrand Stores
- Off-price Stores
- Others
- Online Sales of Women’s Luxury Footwear
Women’s Luxury Footwear Market by Region
- North America Women’s Luxury Footwear Market
- Latin America Women’s Luxury Footwear Market
- Europe Women’s Luxury Footwear Market
- East Asia Women’s Luxury Footwear Market
- South Asia & Pacific Women’s Luxury Footwear Market
- The Middle East & Africa (MEA) Women’s Luxury Footwear Market
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More Insights on Women’s Luxury Footwear Market
Future Market Insights, in its new offering, provides an analysis of the global women’s luxury footwear market, presenting historical demand data (2014-2022) and forecast statistics for the period of 2022-2029. The women’s luxury footwear market study reveals compelling insights on the basis of product (boots, heels & pumps, sandals & flats, casual, sneakers & sports shoes), material (rubber, leather, polyester, velvet, canvas, textiles, and others), price range (US$) (300-499, 500-699, 700-999, 1000-1299, 1300-1599, 1600 & Above), and sales channel (online and offline [department stores, specialty stores, monobrand stores, off-price stores, others]), across seven major regions.
Frequently Asked Questions
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