The global luxury footwear market grew at a CAGR of around 5% during 2015-2020. Looking forward, IMARC Group expects the market to grow moderately during the forecast period (2021-2026). Luxury footwear is manufactured using premium quality materials. It can be differentiated from its affordable counterparts in terms of durability, uniqueness and comfort. It is not mass-produced, which makes it exclusive, expensive and difficult to find in the market. At present, improving living standards and inflating disposable incomes are escalating the demand for luxury footwear around the world.