Seventy percent of the luxury goods companies have achieved sales growth among the world's top 100 firms in the industry, despite the economic growth slowdowns in some major markets including China, the eurozone and the US, as reported by the consulting firm Deloitte.
Chinese consumers lead the consumption of luxury goods both at home and abroad, said Deloitte in its latest report, the Global Powers of Luxury Goods 2019.
In fiscal year 2017, which ended within the 12 months leading up to June 2018, the top 100 earned $247 billion in revenue, an increase of $30 billion over the previous fiscal year.
The top 10 accounted for 48.2 percent of total sales among the top 100 companies.
Cosmetics and fragrances were the top-performing sectors in FY2017 with 16.1 percent sales growth.
Now, let's take a look at the world's top 10 luxury goods companies and their sales revenues.
No 10 PVH Corp, US Sales: $7.36 billion
A model walks through the crowd at the Oculus mall during a Tommy Hilfiger branding event in New York on Feb 11, 2017. PVH is Tommy Hilfiger's parent company. [Photo/IC]
No 9 Chow Tai Fook Jewellery Group Ltd Sales: $7.58 billion
People visit a Chow Tai Fook jewelry store in Hong Kong on Dec 1, 2018. [Photo/IC]
No 8 The Swatch Group Ltd, Switzerland Sales: $7.82 billion
A visitor looks at the Marine-type Pocket Chronometer at the Breguet booth at the world watch and jewelry show Baselworld in Basel, Switzerland, March 25, 2017. The Swatch Group is Breguet's parent company. [Photo/IC]
No 7 L'Oreal Luxe, France Sales: $9.55 billion
Customers queue up in front of a Lancome store at the Sanya International Duty Free City in Sanya, Hainan province, Feb 14, 2019. Lancome is a subsidiary brand of L'Oreal. [Photo/IC]
No 6 Chanel Limited, France Sales: $9.62 billion
Korean model Park Soo-Joo holds a Chanel handbag as she attends the Chanel fashion show in Paris, France, July 3, 2018. [Photo/IC]
No 5 Luxottica Group SpA, Italy Sales: $10.32 billion
Sunglasses from Ray Ban, a Luxottica-owned brand, are on display at an optical shop in Hanau, Germany, March 18, 2016. [Photo/Agencies]
No 4 Kering SA, France Sales: $12.17 billion
A Gucci sign is seen outside a shop in Paris, France, Dec 18, 2017. The brand is owned by Kering. [Photo/Agencies]
No 3 Compagnie Financiere Richemont SA, Switzerland Sales: $12.82 billion
Advertising from Cartier, a Compagnie Financiere Richemont-owned brand, is seen Sept 14, 2018. [Photo/IC]
No 2 The Estee Lauder Companies Inc, US Sales: $13.68 billion
A selection of skincare products from La Mer, an Estee Lauder-owned brand, is seen March 25, 2019. [Photo/IC]
