The luxury market in Colombia skyrockets: 25% growth projected for 2026
After a season of consumption contraction, the global market for luxury fashion and accessories resumes growth in 2026 with an estimated expansion of between 3% and 5%, according to JPMorgan Chase & Co.
TL;DR
- The global luxury fashion and accessories market is expected to grow by 3-5% in 2026 after a period of contraction.
- Colombia's luxury market exceeded US$1.25 billion in 2025 and is positioned as an emerging hub for high-end retail in Latin America.
- Growth in Colombia is driven by an ascending upper-middle class seeking aspirational brands and sophisticated retail experiences.
- International luxury brands are projected to increase sales in Colombia by around 25% in 2026.
- Companies like SBQ facilitate the entry of international brands by ensuring brand integrity, appropriate infrastructure, and tailored marketing plans.
- The target consumer is typically 35-45 years old, well-traveled, and seeks the same level of sophistication found in European or US markets.
- International brands now represent 50% of SBQ's sales, with a projected 25% growth for the year.