Daily Newsletter

19 August 2024

Daily Newsletter

19 August 2024

Ted Baker online pureplay future uncertain as final UK stores close

UK fashion retailer Ted Baker is closing its final UK stores this week and an industry expert tells Just Style exclusively it remains to be seen whether the brand will remain as an online pureplay or disappear altogether.

Laura Husband August 19 2024

The future of Ted Baker in the UK remains uncertain as the retailer closes its final stores this week. Credit: Shutterstock.

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Per GlobalData, the luxury apparel market was valued at $201.6 billion in 2023 and will grow at a CAGR of >5% during 2023-2028. While macroeconomic difficulties in Western Europe and North America will impact luxury demand in the short term, countries in APAC and Eastern Europe will continue to emerge as burgeoning economies. Per our analysis, Hermes emerged as the uncontestable winner within the luxury apparel market, growing its share at an exponential rate in 2023.

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Luxury Apparel Market Overview

Per GlobalData, the luxury apparel market was valued at $201.6 billion in 2023 and will grow at a CAGR of >5% during 2023-2028. While macroeconomic difficulties in Western Europe and North America will impact luxury demand in the short term, countries in APAC and Eastern Europe will continue to emerge as burgeoning economies. Per our analysis, Hermes emerged as the uncontestable winner within the luxury apparel market, growing its share at an exponential rate in 2023.

Buy report

Luxury Apparel Market Overview

Per GlobalData, the luxury apparel market was valued at $201.6 billion in 2023 and will grow at a CAGR of >5% during 2023-2028. While macroeconomic difficulties in Western Europe and North America will impact luxury demand in the short term, countries in APAC and Eastern Europe will continue to emerge as burgeoning economies. Per our analysis, Hermes emerged as the uncontestable winner within the luxury apparel market, growing its share at an exponential rate in 2023.

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