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THE LUXURY GOODS INDUSTRY IN SPAIN

The luxury goods market knows few the crisis. From the data of the Spanish Association of Luxury Goods, Luxury Spain, has emerged in fact that in 2015 Spanish enterprises which offer luxury products and services have ended the year with an increase of 4,8% of their business  compared to the previous year (€ 5.427 million). In the last years the main Luxury and Retail brands have been able to adopt innovative strategies that  have contributed to improve their budgets and lead to these results.
The exports combined with a recovery of the national market ensured that this business continue to record enviable numbers: the 51,5% of the Spanish enterprises’  turnover is due to the exports, number  that is increased of a +4% compared to 2014, while the domestic consumption represents the 25% of the total enterprises’ turnover. Spain is ranked fifth in the luxury goods market  towards the rest of EU Countries, after France, Italy, Germany and Switzerland.

But which is the strength of this industry?

 

The added value of the Spanish services and products in this industry is based on the exclusiveness and differentiation, the products are characterized for their quality and excellence, as for their tradition and innovation.
The items that record a great volume in the sales are gourmet and beauty products; in fact in 2015 they have registered an increase of 4,8% compared to the previous  year and they compose the 55% of the total turnover (€ 3.632 million a year), followed by tourism and high quality services that in the past ten years have seen a strong expansion growing to a rate of +15%. Fashion and accessories as jewelry and leather industry, have a strong weight too within the the luxury industry "Made in Spain”.

But it doesn't stop here. The luxury world is in continuous evolution, redefining its own values. The main luxury brands tend more and more to move toward the product customization, which allows to suit the product to fit the client tastes and needs with an added value of making feel unique and special their own clients. Among the tendencies the eco-luxury is affirming also, an initiative that rises from the concern for the environment aiming to  integrate the sustainability value in to the firms’ business strategy.

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