The Japanese luxury market is one of the fastest growing in all of Asia. Increased interest in luxury goods by millennials and GenZ are boosting the industry. Not only prestigious foreign brands are on the rise, but local luxury goods are also in high demand.
Japan is the third largest market in the world for cosmetics and personal care products. Even though the global pandemic resulted in a significant drop in consumer traffic and inbound tourism, the domestic market continues to grow.
Joint venture established in 1987 by the European Commission (DG GROW) and the Japanese Government (METI) for promoting all forms of industrial, trade and investment cooperation between the EU and Japan.