At the end of 2014, the global market was worth €224 bn, with a 3% growth at constant exchange rates. Estimates for 2015 suggest a small increase in the global consumption of luxury goods of around 1-2% at constant exchange rates and 13% at current exchange rates, for a market of an overall value of €253 billion. This growth is led mainly by the online (7% of the total) and outlet channels. The fastest-growing category was jewellery (+18% at current rates and +6% at constant rates), seen as an investment by consumers in all geographic areas. In second place was footwear (+16% at current rates and +6% at constant rates). At global level, Chinese consumers remain the fastest-growing national group (31% of the total). In terms of geographic areas, Japan stands out (+13% at current rates and +9% at constant rates), while Russia has fallen away dramatically (-25% at current rates), Europe has made progress (+9% at current rates and +5% at constant rates), the US is stagnant and the Middle East has grown slightly in real terms.
