Luxury Footwear Market size worth $46.8 billion by 2026 - KBV Research

As a result of this, there is a growing inclination for attractive luxury footwear by people. As luxury items have become the representation of status and increasing fondness of consumers for flaunting various international brands

Luxury footwear: what is it?

A comfortable and elegant garment worn on the feet is luxury footwear. Footwear has been used since very early human history.  For years, footwear is used to protect the foot against adversities. Nowadays not only this, branded footwear has become the status symbol. It is used for fashion as well as adornment. There are various brands that are dedicated to manufacturing customized luxurious footwear.

Diverse types of footwear available in the market

There is a wide range of footwear that are available in the market. People prefer to wear different types of footwear according to the clothing, office wears to casual, and for any specific occasion. These include boots, shoes, sandals, and slippers. Further, boots can be fashion boots, cowboy boots, hiking boots, and many more. Similarly, various types of shoes include sneakers, loafers, ballet flats, high tops, etc.

Materials used in making luxury footwear

Usually, leather, plastic, and rubber are used in making footwear. Leather is the most preferred material for the shoe manufacturer. Whereas plastic and rubber are used in making soles of the shoes. Nowadays luxury footwear manufacturers are focused to use environment-friendly materials for manufacturing shoes, sandals, and other footwear.

High-cost materials like leather and silk have established reputations as luxury materials. Casual and formal luxury footwear is made of leather material while, athletic luxury footwear involves a combination of numerous textiles like polyester, nylon, and lycra in order to make them light-weighted and well-ventilated.

Luxury footwear and its type

Casual Shoes:

The footwear that is very comfortable to wear and is suitable for daily use are included in casual shoes or casual footwear. It encompasses everything from slippers to sneakers to loafers. Luxury casual shoes are generally preferred by rich people.

Formal Shoes:

Luxury footwear that is worn at formal events are formal shoes. It gives a classic and stylish look. People wearing formal branded shoes show their sophisticated way of styling. From relaxed office attire to any wedding ceremony luxury formal shoes is always in trend.

The end-user of luxury footwear

Women

When it comes to fashion and comfort, women generally don’t compromise with it. Gucci, Balenciaga, Jimmy Choo, Christian Louboutin are top brands that design luxury footwear for women. Limitless types of luxury footwear are available for women. So millionaire women never miss a chance to sway the world from their phenomenal fashion and style. There is a variety of luxury footwear for women including flat sandals, wedge heels, boots, gladiators, sneakers, and many more.

Men:

There is a large number of options for men when it comes to luxury footwear. Men's footwear can be casual to office wear, from boots to formal shoes. There are many brands that are involved in manufacturing only men's footwear including Moreschi, Lloyd, and Santoni. Designer shoes are very popular among men, and it is considered to be trendy. Shoes of any top brand are obviously more comfortable and classy than any ordinary brand.

Children

Parents who prefer to wear luxury footwear also buy branded and luxurious footwear for their child also. So children are also among the end-user of luxury footwear. Stylish and lavish designer shoes and feet are available in the market by top brands. Badgley Mishka, Michael Kors, Stuart Weitzman, and Ivanka Trump are brands famous for kid’s luxury footwear.

Online and offline stores to buy luxury footwear

Although nowadays you can buy luxury footwear from both online and offline stores. The offline store will remain the king of luxury footwear sales. The reason behind this is customers focus on both price and material quality used in the footwear. For this they try the shoes or any footwear before purchase, to check the comfortability. Offline retailers are focused to offer value-added services to their customers in order to compete in the rising online market.

But online markets are also flourishing. Due to the increasing use of the internet, customers can buy products with just one click. When it comes to luxury footwear online platform gives the facility of comparing the price of different brands as well as they can see the review of other customers. That is why customers are more or less inclined towards online shopping even for luxury footwear.

Sum-up

The Luxury Footwear Market has been showing rapid growth owing to the increasing millennial population across the world. Also, there is a rising number of working women, so they are becoming self-capable of buying luxury footwear and other products. Wearing luxury footwear has become a status symbol. The end-user of this footwear is men, women, and children.

Many top brands offer a wide variety of footwear to customers on both offline and online platforms. Growing spending on designer and trademarked luxury footwear by the working-class and millennials population has enhanced the growth of the market all across the world.