The three dominant trends are the main factors that have accelerated the rapid growth of the industry, including the customer base and variations in the consumptions of different brands. The three dominant trends in the global luxury goods market are globalization, consolidation, and diversification.  Consolidation involves the growth of big companies and ownership of brands across many segments of luxury products. Examples include LVMH, Richemont, and Kering, which dominate the market in areas ranging from luxury drinks to fashion and cosmetics. Global consumer companies, such as Procter & Gamble, are also attracted to the industry, due to the difficulty of making a profit in the mass consumer goods market. The customer base for various luxury goods continue to be more culturally diversified, and this presents more unseen challenges and new opportunities to companies in this industry.