KPMG: new luxury goods market report

Luxury apparel market will expand to PLN 3.2 million through 2017 and the amount of wealthy Poles will exceed to 1 million in 2016, KPMG predicted in the latest Luxury goods market in Poland report. The luxury apparel market will grow by 13 percent over the next three years and will continue to be the second-biggest segment of luxury goods in Poland (behind luxury and premium cars). But the value of the luxury watches and jewelry segments will grow the fastest and reach PLN 466 million in 2017. The Polish luxury market is still lagging behind the Western Europe in terms of value. It was 23 times smaller than in Italy and 22 times smaller than in France in 2014, the report stated. Poles view Hugo Boss, Prada, Rolex, Patek Philippe, Apart and W.Kruk as the most luxury brands. As much as 41 percent of wealthy Poles (with wages above PLN 20,000 per month) usually choose big shopping malls as the destination for luxury goods shopping, KPMG claimed. Around 65-67 percent of the world luxury brands are available in Poland, the report stated. The most popular ones are Italian, French (apparel) and Swiss brands (watches).