High-end European brand, turnover of 986 billion: represents 5% of the EU's GDP

The European high-end and luxury sector represents 5% of Europe's GDP. Revenue generated by European high-end brands stands at €986 billion , and the sector's share of total European exports is 11.5%. This is explained in a recent report released by the European Alliance of High-End Cultural and Creative Industries (ECCIA), of which Altagamma is a founding member, and produced in conjunction with Bain & Company . The study specifies that European companies alone hold a 70% share of the global luxury market and generate 25% of EU tourism value. The sector now faces significant challenges in a period of geopolitical and economic uncertainty. Rising tariffs and protectionist trade policies are particularly burdensome—particularly between the United States and China, which account for 35-45% of the sector's global revenues.

"Although luxury stocks are yielding 4-6 times more than the overall market in Italy or France, we are seeing some worrying signs," said Michael Ward , president of Eccia. "Tariff measures risk compromising global demand, increasing costs, and forcing companies to rethink their supply chains." According to the study, European high-end luxury is a key player in a global market that could double in value by 2030, reaching €2.5 trillion . "Its impact is also significant on a social level," explains Stefania Lazzaroni , CEO of Altagamma. "It has created 2 million jobs in 2024, 160,000 new jobs since 2019, and invested up to 3% of turnover in sustainability and up to 5% in training. Furthermore, 40% of high-end tourists choose Europe partly because they are interested in purchasing our manufactured creations."

To support the sector's long-term sustainable growth and its contribution to the European economy and reputation, Eccia has presented five proposals to the European Union . First, it calls for strengthening intellectual property and combating counterfeiting by introducing specific anti-counterfeiting legislation. It also calls for protecting consumer trust and experience by combating unauthorized sales and supporting selective distribution networks. It also calls for promoting the sustainability of high-end goods and services by involving sector representatives in the development of secondary legislation under the Green Deal , addressing specific needs related to eco-design and circular economy requirements . Finally, it calls for supporting craftsmanship and skills development by establishing the European title of "Maître d'Art" , and for strengthening trade and tourism by promoting free trade agreements and facilitating visa requirements.