The market for hard luxury product is segmented on the basis of mode of distribution channel used for offering products to consumers. Luxury goods comprises accessories, footwear, apparel, watches and other high end items and targeted at premium consumers. The market for luxury goods sees three types of consumers, which include kids between 0-12 years, teenagers 13 to 19 years and the rest in adult group. Luxury goods market can also be segmented on the basis of application which includes soft luxury and hard luxury. Soft luxury goods include designer apparels and leather goods such as hand bags and others, which are easily available in hypermarket stores or directly operative outlet. Where as hard luxury goods comprise jewellery and premium watches. The hard luxury goods are offered to consumers through premium outlets, or sold through internet.

Because of consumer convenience, preferences and availability of products at lower price online retailing is expected to be the most preferred mode of distribution in the forecasted period. Besides, the second most preferred mode is expected to be company’s brand retail outlets as they provide better offerings at less price.

Globally, demand for hard luxury goods is increasing and is expected to account for fastest CAGR growth as compared to other regions. Expanding middle class coupled with the need for premium class products are the key drivers of hard luxury goods in ASEAN region. Furthermore, wide varieties of product offerings in each segments and continuous innovation and product launch is expected to influence consumers in ASEAN region to fuel market growth of hard luxury goods in the forecasted period.

However, the market possess some restraining factors as consumers perceives these products as expensive and also it is considered as a premium class product and not an absolute necessity.