Luxury Footwear Statistics

Top luxury footwear statistics

• US$29.15 billion is the total revenue for luxury footwear in 2023.
• At a CAGR of 4.02%, this amount is forecasted to grow by 21.78% by 2028, reaching a total of US$35.50 billion in revenue.
• Of the US$29.15 billion luxury footwear sales in 2023, 78.30% of the market share goes to physical retail, which is equivalent to US$22.82 billion.
• 2023 revenue in luxury footwear via online merchants is US$6.33 billion.
• US sales of luxury footwear in 2023 are at US$7.03 billion, making up 24.12% of the year’s market share.
• Women dominated the luxury footwear market back in 2020 with a share of 48.47%.
• 2028 projections see this figure increase at a 2.80% CAGR.
• Based on 2022 data, 48% of men preferred luxury trainers, while 20% of women bought luxury high-heel sandals.

Luxury footwear global revenue

• As of 2023, worldwide luxury footwear revenue sits at US$29.15 billion.
• This figure is forecasted to grow at a 4.02% CAGR until 2028.
• By the end of 2028, global revenue in luxury shoes is estimated to reach US$35.50 billion.
• That’s a revenue growth of 21.78% from the 2023 numbers.
• The 2028 sales projection is also a 58.62% growth based on the 2018 total sales of US$22.38 billion.
• Back in 2020, during the height of the pandemic, luxury footwear sales were at US$21.75 billion, a 9.11% drop from the previous year’s revenue of US$23.93 billion.
• Global sales in luxury shoes bounced back in 2021 by 11.31%, reaching total revenue of US$24.21 billion.

Luxury footwear sales by channel

• Physical sales of luxury shoes as of 2023 are at US$22.82 billion.
• These numbers earn physical retail a total market share of 78.30%.
• By 2025, luxury footwear revenue via physical stores is estimated to reach US$23.34 billion, based on a market share of 74% of the projected worldwide sales in the same year.
• That’s a 4.30% drop from the 2023 physical share.
• Revenue in E-commerce in 2023 is US$6.33 billion, with a market share of 21.70%.
• This figure is expected to reach US$8.20 billion by 2025, taking up 26% of the year’s market share.
• Between 2018 and 2023, luxury footwear physical sales grew by 16.16%
• Luxury footwear revenue through E-commerce within the same time period grew by 131.67%.

Luxury footwear market by country

• As of 2023, revenue in luxury shoes in the United States amounts to US$7.03 billion.
• US Luxury footwear sales are expected to amount to US$8.07 billion at a 2.80% CAGR by the end of 2028.
• This projected US revenue in luxury footwear is 22.68% of the forecasted worldwide sales in 2028.
• In 2020, sales of luxury shoes in the United States dropped by 8.51% from 2019’s US$6.11 billion revenue.
• China grabs hold of US$3.05 billion in revenue in luxury footwear in 2023.
• By 2028, it’s expected to grow at a CAGR of 4.82% and reach US$3.86 billion, which is 10.87% of the anticipated worldwide luxury footwear revenue in the same year.
• Japan’s 2023 luxury footwear sales show a total of US$2.36 billion.
• It’s expected to increase at a CAGR of 5.08% all the way to 2028, reaching up to US$3.02 billion.
• This Japan figure is set to take up 8.51% of the anticipated 2028 global luxury sales.
• Luxury footwear revenue in the United Kingdom sits at US$1.74 billion.
• These UK numbers are projected to reach US$2.12 billion at a 4.4% CAGR by the end of 2028, making up 5.97% of the worldwide sales in the same year.

Luxury footwear market by end-user

• In 2020, women had the biggest market share in luxury footwear sales at 48.47%.
• This percentage translates to US$10.54 billion.
• By 2030, the women’s market share in luxury shoes is expected to drop to 45.83%.
• Men came in second place at 36.94%, reaching total revenue of US$8.03 billion.
• The 2020 men’s luxury footwear market share is forecasted to marginally increase to 37.73% by the end of 2030.
• Children, on the other hand, took a market share of 13.59% in 2020, landing total sales of US$3.17 billion.

Common types of luxury footwear

• The most common luxury footwear type among men is the sneaker.
• Back in 2022, 48% of men in the United States bought luxury trainers.
• While still popular, luxury trainers among men dropped in share by 4% from 2021’s numbers.
• Luxury loafers came in second place at 29%.
• Women, on the other hand, prefer luxury high-heel sandals.
• In 2022, 20% of women in the US purchased high-heeled luxury footwear.
• Only 19% of them bought luxury trainers in the same year.
• In 2021, luxury flats were more popular as they were bought by 21% of women (only 16% of them purchased high-heel sandals).

Luxury footwear FAQs

What are luxury shoes?

• Luxury shoes exude elegance and class, with great comfort being available right from the box.
• Expensive materials and quality craftsmanship are put into them, making them among the most expensive shoes on the market,
• They are manufactured to be worn by the affluent, including celebrities, giving them an iconic status even before release.
• As such, luxury footwear has a big presence in the resale scene.

Why are luxury shoes so expensive?

• Besides top-shelf components, renowned designers attached to luxury shoes contribute to the skyrocketing price of luxury footwear.
• Many luxury shoes are manufactured in their origin country (i.e., Italy), giving them “authentic price tags” as opposed to costs made lower by outsourcing production somewhere cheaper.
• The hype culture plays a big part in it as well.

What is the most expensive luxury shoe?

• The Moon Star Shoes by Antonio Vietri is the most expensive luxury shoe as of 2023, selling for US$19.90 million a pair.
• Its entire silhouette is made of solid gold, and its crest is encrusted with 30 carats of diamond.
• Built with a heel that’s modelled after Dubai’s Burj Khalifa, this close-to-20-million-dollar luxury shoe also comes with a piece of Argentinian meteorite circa 1576.

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