It’s almost bizarre to think that two years ago the world came to a grinding halt because as luxury retail profits go, the world never lost its appetite for hardcore shopping. Call it ‘revenge buying’ — a term used post the pandemic to define the long, thronging queues outside mega stores — or the introduction of new buyers (we’re looking at you Gen-Z), high-end fashion shopping has never been more aggressive. And these are the top earners, much thanks to their wild popularity in Asia, which contributes the largest chunk to their soaring numbers. Are you even surprised? 

Prada 
The Italian group achieved 20% growth, generating €2.28 billion in H1 2023, driven by strong sales in Asia and Europe, particularly excelling in the ready-to-wear category with support from its smaller brand Miu Miu. 

Hermès 
Known for its leather goods, Hermes recorded 36% comparative growth in H1 FY23, with exceptional sales in Asia, outperforming its rival LVMH. 

Loewe 
Named one of the hottest brands of 2023 by fashion tech company Lyst — the holy grail for brand ratings — Loewe’s searches surged by 19% in Q2. Climbing 13 places under creative director Jonathan Anderson, it secured a spot in the top 10 for the first time.

Ermenegildo Zegna 
The Italian brand experienced a 21% growth in H1 2023, accelerating in Q2 with 35.1% YoY and 24.5% organic growth. Strong double-digit performance in major regions and US market strength contributed to their success, along with impressive direct-to-consumer growth, supporting the Group’s 2023 outlook. 

LVMH 
The conglomerate continues to grow, achieving 15% YoY growth, reaching €42.2 billion in H1 (FY23), with organic revenue increasing by 17%.