Peru houses 36% of the world's most luxurious brands

The luxury market in Peru has been growing constantly in the past 10 years and the numbers back it up: the Peruvian market is home to 36% of the world's most luxurious brands and experts ensure those figures will keep increasing as the market has more room to develop with the demand for those type of products yet to consolidate. 

According to the Institute of Business Development and Economics (IEDEP) of the Chamber of Commerce of Lima, 97 of the 267 luxury brands with the largest presence in the world are in the country, “The dynamic economy of Peru represents an attractive environment for high end brands", said César Peñaranda, executive director of the IEDEP. “Many of the brands decide to enter the country in alliance with department stores or as part of the offer of business groups dedicated to luxury consumers", explained Peñaranda.

France, Italy, Spain, Switzerland, the United Kingdom, Japan and the United States are the countries with more luxury brands in Peru, being cosmetics, clothing and footwear the categories that lead the presence. The cosmetic category, which includes fragrances and skin care, has 35 brands, including Christian Dior, Loewe, Marc Jacobs, Benefit Cosmetics, Estée Lauder and Lancôme. The second category is clothing and footwear, with 24 brands, followed by watchs with 16 brands. Jewelry, lenses and leather products have 9, 6 and 7 brands, respectively.