By: Camila Rua/ Translated by: Lorena Gómez
In 2025, according to Statista projections, the Colombian luxury market is expected to have an annual growth of 3.35% in luxury items. Proof of this is the opening of new branches of the Cole Haan brand and the Malva department store.
The luxury market in Colombia has had a transformation in recent years. Large luxury brands such as Porsche, Chanel, Versace, among others, have entered colombia. That interest will remain present, since, according to Statista, in 2025 the market for luxury items is projected to increase to 1.25 billion dollars.
Luxury fashion is the largest segment of this market, with a volume of $380.46 million, equivalent to 30% of the luxury goods market. This not only represents a great opportunity in the Colombian market for traditional fashion brands, but also for sustainable luxury brands that are positioning themselves in the country, such as Somos Muiscas, Ephedra, and Religare.
Proof of this growth is the opening of new branches of the Malva department store in Bucaramanga and Panama, as well as its presence with five branches in different cities in Colombia and three in Peru. Malva prioritizes innovation, sustainability, and authenticity, because, in addition to selling pieces from traditional luxury brands, they also make capsule collections with Latin brands in a sustainable way.
This department store, in turn, uses the strategies recommended by Statista for the luxury market: the emphasis on exclusivity, the luxury experience, and e-commerce. These recommendations are similar to those raised by The State of Fashion: Luxury report, because, according to Business of Fashion, customers of all ages are no longer interested only in luxury objects, but also in luxury experiences. For instance, Malva offers luxury services such as fashion consultancies, exclusive events, and VIP areas.
The luxury market in Colombia is experiencing significant growth, driven by the arrival of international brands and consumer interest in exclusive and sustainable experiences. With growth projections for 2025, the Colombian luxury market is positioned as a space full of opportunities for both traditional brands and those that are committed to more responsible practices and unique customer experiences.
