7 Luxury Giants That Control Huge Chunks of the Fashion and Beauty World
The business of fashion, luxury goods in particular, is one of the largest today. Though it's gone through several changes in the form of economic trends, digital transformation, and changing consumer preferences it continues to thrive.
What many don't know, however, is that only a handful of companies make up the vast majority of the industry and account for a large percent of the sales. Here, we list down some of the biggest companies that control the world of luxury.
As the world's largest producer of luxury goods, LVMH Moët Hennessy Louis Vuitton S.E., produces and sells wine, Cognac, perfume, cosmetics, luggage, and watches, and jewelry under several subsidiaries. These include Dom Pérignon, Hennessy, Moët & Chandon, Veuve Clicquot, Sephora, Céline, Christian Dior, Fendi, Givenchy, Loewe, Louis Vuitton, Rimowa, Bulgari, Hublot, Acqua di Parma, and Benefit, among others.
2. Estée Lauder Companies
The Estée Lauder Companies Inc. is the conglomerate that rules over the realm of luxury skincare, makeup, fragrance, and hair care. Estée Lauder, M.A.C., Aramis, Clinique, Aveda, Jo Malone London, Aerin Beauty, Bobbi Brown, Smashbox, Tom Ford, and Tory Burch are just some of the brands under the Estée umbrella.
Switzerland-based luxury goods holding company Richemont owns Cartier, Van Cleef & Arpels, Montblanc, Jaeger-LeCoultre, Vacheron Constantin, IWC, Piaget, Chloé, and Officine Panerai. In addition to its subsidiaries, Richemont also has investments with online fashion company YOOX NET-A-PORTER GROUP.
All of Ray-Ban, Oakley, Vogue Eyewear, Persol, and Oliver Peoples are owned by Italian eyewear company Luxottica. It also has licensed eyewear brands that include Brooks Brothers, Bulgari, Burberry, Chanel, Coach, Dolce & Gabbana, DKNY, Giorgio Armani, Michael Kors, Miu Miu, Polo Ralph Lauren, Paul Smith Spectacles, Prada, Ralph Lauren, Starck Eyes, Tiffany & Co., Tory Burch, Valentino, and Versace.
Kering, formerly PPR, owns Gucci, Saint Laurent, Bottega Veneta, Balenciaga, Alexander McQueen, Brioni, Christopher Kane, Tomas Maier, Boucheron, Girard-Perregaux, and Kering Eyewear. As of 2017, Kering had over 29,000 employees and pro forma revenue of €10.823 billion.
L'Oréal is the largest cosmetics company in the world with consumer brands such as L'Oréal Paris, Garnier, Maybelline, NYX Cosmetics, and Essie. Under L'Oreal Luxe, however, it has Lancôme, YSL, Giorgio Armani, Biotherm, Cacharel, Diesel, Viktor & Rolf, Ralph Lauren, Kiehl's, Shu Uemura, Clarisonic, Guy Laroche, Paloma Picasso, Urban Decay, Maison Margiela, and Helena Rubinstein.
7. The Swatch Group
The Swatch Group is the largest watch company and the most powerful company in the Swiss watch industry. It owns Breguet, Harry Winston, Blancpain, Glashütte Original, Jaquet Droz, Léon Hatot, Omega, Longines, Rado, Union Glashütte, Tissot, Balmain, Certina, Mido, Hamilton, Calvin Klein, Swatch, and Flik Flak.