Stake logo



Could your pets have more swag than you? Despite the hefty prices, the luxury goods industry for pets is booming.

Pets have become an integral part of many families, treated as beloved companions rather than mere animals. This humanisation of pets has blurred the lines between pet care and personal indulgence, leading to a demand for high-end products that reflect the owner's lifestyle and aspirations. Add rising disposable incomes and increasing pet ownership rates and you have a lucrative and rapidly growing sector that could be worth US$5.6b by 2030.

This market encompasses a wide range of products and services, catering to every aspect of a pet's life. Designer clothing and accessories, such as Louis Vuitton collars ($LVMUY) and Gucci leashes, have become popular fashion statements for pets. There are also custom spa treatments, while luxurious hotels costing up to US$200 a night could make your pet wish you left town more often.

Nutrition is also booming, with the burgeoning pet supplements market worth $US2.4b in 2022, while gourmet pet food, often featuring organic ingredients and exotic flavours, caters to the discerning palates of pampered pooches and kitties. One of the leading players is Freshpet ($FRPT), whose revenue has grown at an astonishing annualised rate of 25% in the past five years. It is estimated to reach US$755m this year, though the company has struggled to post positive earnings due to high marketing expenses and distribution costs.

And while these extravagances might seem like a heavy financial burden, it’s worth it when pets rake in vast amounts of money. For instance, if Taylor Swift is a billionaire, that only makes her about 10x richer than her cat Olivia Benson, apparently worth US$97m. Much of its earnings have been through roles in Swift’s music videos and video campaigns for Diet Coke and Keds sneakers, as well as merch sales.

Social media pet stars also generate big incomes. A Pomeranian named Jiffpom reportedly charges over US$32,000 per sponsored post, while the highest grossing feline, Nala Cat, earns US$14,400 per ad. So while going on a shopping spree for your pet can be costly, it could also be considered an investment, should that swag help it become a ‘petfluencer’. Luxury pet goods and experiences could also be one of the few ways for pet brands to gain an edge over bigger retailers. As pet-focused companies like Chewy ($CHWY) and Bark ($BARK) struggle to compete against Amazon ($AMZN) and other e-commerce giants over cheap animal food and toys, differentiation through premium products and services is key. On that front, it’s still a dog-eat-dog world.


Want more?

You know what to do

Insights, trends and company deep dives delivered straight to your inbox.

Stake logo
Over 7,000 5-star reviews
App Store logoGoogle Play logo

Subscribe to our free newsletters

By subscribing, you agree to our Privacy Policy.

Stakeshop Pty Ltd, trading as Stake, ACN 610105505, is an authorised representative (Authorised Representative No. 1241398) of Sanlam Private Wealth Pty Ltd (Australian Financial Services Licence No. 337927) ('Sanlam') and an authorised representative (Authorised Representative No. 1241398) of Airwallex Pty Ltd (Australian Financial Services Licence No. 487221) ('Airwallex'). Stake is not authorised by Airwallex under Airwallex’s AFSL to arrange for clients to be issued with securities as Airwallex is not authorised under its AFSL for this purpose. Stake is not authorised by Sanlam under Sanlam’s AFSL to arrange for clients to be issued with a non-cash payment facility as Sanlam is not authorised under its AFSL for this purpose. Stake SMSF Pty Ltd (‘Stake Super’) is not licensed to provide financial product advice under the Corporations Act. This specifically applies to any financial products which are established if you instruct Stake Super to set up a self managed super fund (‘SMSF’). When you sign up to Stake Super, you are contracting with Stake SMSF Pty Ltd who will assist in the establishment of a SMSF under a ‘no advice model’. You will also be referred to Stakeshop Pty Ltd to enable your trading account and bank account to be set up in order to use the Stake Website and/or App. Stakeshop Pty Ltd will also run marketing and promotions to you under. For more information about SMSFs, see our SMSF Risks page.The information on our website or our mobile application is not intended to be an inducement, offer or solicitation to anyone in any jurisdiction in which Stake is not regulated or able to market its services. At Stake and Stake Super, we’re focused on giving you a better investing experience but we don’t take into account your personal objectives, circumstances or financial needs. Any advice given by Stake is of a general nature only. As investments carry risk, before making any investment decision, please consider if it’s right for you and seek appropriate taxation and legal advice. Please view our Financial Services GuideTerms & ConditionsPrivacy Policy and Disclaimers  before deciding to invest on or use Stake or Stake Super. By using our website or service in any way, you agree to our Privacy Policy and Terms & Conditions. All financial products involve risk and you should ensure you understand the risks involved as certain financial products may not be suitable to everyone. Past performance of any product described on this website is not a reliable indication of future performance. Stake and Stake Super are registered trademarks in Australia.

Copyright © 2024 Stake. All rights reserved.