Philippines a Developing Personal Luxury Market
Personal luxury is gaining traction in the Philippines. Global luxury brands such as Celine, Bvlgari, and Fendi found their new homes in Makati, while resort casinos in Parañaque also host a few affluent brands. From 2018 to 2022, the personal luxury market in the Philippines experienced an annual growth of 10.8% according to Statista. Our country is not yet known as a luxury market destination, and yet we have exhibited faster growth than our more mature neighbors in ASEAN.
In this article, NRI Manila’s Senior Consultant, Ayra Mae Fernando, explores what’s behind the small, yet thriving market of personal luxury in the Philippines and what luxury brands should look out for.
Philippines a Developing Personal Luxury Market