According to the 2025 ‘State of Fashion, Luxury’ report (subscription required) by Business of Fashion and McKinsey & Co., luxury leather goods are on the rise, and are “poised for the fastest growth at 4–6% per year between 2025 and 2027”. The report cites enduring demand for investment pieces as a purchase driver.
The jewellery category has an equally strong outlook and together the two groups are predicted to be the most resilient product category through 2027. Out of all categories, the two grew the fastest in the 2019 to 2023 period. The strong growth was driven by price increases and demand for iconic products, particularly in leather goods.