Luxury Furniture Market - 35% Of Growth To Originate From Eu...| MENAFN.COM

Tuesday, 05 July 2022 08:53 GMT

Luxury Furniture Market - 35% Of Growth To Originate From Europe |Driven By Increasing Number Of New Luxury Furniture Showroom Launches | Technavio'

(MENAFN- PR Newswire)

NEW YORK, May 24, 2022 /PRNewswire/ -- The luxury furniture market size is expected to grow by USD 7 billion from 2020 to 2025, progressing at a CAGR of 5% as per the latest market research report by Technavio. The key factor driving the luxury furniture market is the increasing number of new luxury furniture showroom launches. The growth of the global luxury furniture market is being invigorated by the frequent launch of products and showrooms globally. Major and regional players have been assessing the growth opportunities in the luxury furniture category in various parts of the world. With an aim to efficiently tap into the enormous growth potential of this market, new showrooms of luxury furniture are being launched globally to attract more customers. In February 2019, the Natuzzi Spa. opened its new store in Istanbul within the Home Design Center. In March 2020, the Reflex Spa. opened its showroom in Brussel. In April 2019, the Reflex Spa. opened its showroom in Milan, Italy. In July 2019, the Club House Italia Spa launched The Residence, U.S. Showhouse, designed exclusively by Design Force Miami in collaboration with Orlean, Emilio Robba, and Opera Gallery. In March 2020, the Club House Italia Spa launched the Outdoor Collection, in collaboration with Orlean & Storia Flooring Luxury Living Group.

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