It’s no secret that consumers are still spending big on their pets even in a cost of living crisis — and the launch of luxury pet accessories brand Mon Petit Amour Manolo, which sells collars starting at $365, is proof of this.With the number of pets in Australia surpassing the human population according to a national survey, it comes as no surprise that the Australian pet industry was valued at $2.5 billion in 2023.On average, Australians spend $2135 a year on their dogs and $1138 on their feline companions, according to the RSPCA.Recently, to facilitate this, there’s been a lot of movement in Australia’s pet retail industry.Last week, PetO, Australia’s largest independently owned pet specialty store, acquired 41 retail stores and 25 vet clinics from the Woolworths Group’s Petstock banner, after the Australian Competition and Consumer Commission issued a court-enforced divesture notice to Petstock and Woolworths citing anti-competitive behaviour in the market.And big retailers are catering to this segment for the first time with Ikea Australia launching its first-ever pet collection, Utsadd, in March.Cue Mon Petit Amour Manolo, a luxury pet accessories brand that aims to fill the gap at the top end of Australia’s pet retail market.Swapping the silver spoon for a golden leashMon Petit Amour Manolo marked its entry into the market during Australian Fashion Week at the PoundPaws fashion show last month, where it showcased its signature leads made of vegan leather, 14-karat gold accents, and bows handmade by an in-house Parisian couturier on the ‘pupwalk’ at Sydney’s Ovolo Hotel.Former reality star of Crazy Rich Asians Crystal Lynn is the founder of Mon Petit Amour Manolo and compares the collection of leads and collars to jewelry for small dogs.“The demand for $365 luxury accessories in the Australian market is promising, driven by growing affluence, rising pet ownership, and a trend towards premium, high-quality products,” Lynn told Inside Retail.“With over 61 per cent of households owning pets and treating them as family, there’s a strong market for premium pet accessories,” Lynn added.Melbourne-based pet-accessories brand St Argo, has catered to the pet accessories market segment since it was founded in 2019, however, at a much lower end of the price spectrum. US-based brand Pagerie is more in keeping with Mon Petit Amour Manolo’s ultra-high-end pricing. Lynn saw a need for Mon Petit Amour Manolo in the Australian market due to a gap for “high-quality, luxury pet accessories that combine elegance with ethical craftsmanship,” she said.Lynn declined to share specific figures, but said the brand “has reported a strong start since its launch, with a notable increase in online sales, particularly for the Signature 14-carat gold lead,” and “a strong demand for personalized and bespoke accessories, like custom initials and charms”.For now, the business is pureplay e-commerce, however, Lynn is in the process of negotiating with a few high-end boutiques in Australia and overseas.The launch was hosted at the Langham Hotel Sydney, which hints at the caliber of retail partnerships it is seeking. And if the brand’s relationship with the dog-friendly hotel is anything to go by, patrons could soon be able to purchase products during their stay.Beauty and graceManolo, Lynn’s fur child who she rescued over a decade ago, is the driving force behind the business and its philanthropic purpose. The brand is committed to donating a portion of the profits of each sale to organizations that help re-home dogs, like Pound Paws charity and Manolo’s Little Legacy Foundation, according to Lynn.“Our products serve as more than just beautiful leads, they are meaningful symbols” that promote responsible pet ownership, while at the same time addressing the market’s aesthetic and ethical expectations, Lynn said.Mon Petit Amour Manolo’s best-seller is the Midnight Manhattan Lead, which retails for $365 and comes with a heart-shaped charm that says: “I’m not spoilt, it’s simply my birthright”, with the option to personalize.“As advocates for pet adoption, I established the brand to honor the remarkable moments we cherish with our pets,” Lynn said. “Through our products and initiatives, we aim to create a community that values and enhances the special bond.”Room for growthThe global pet accessories market is currently valued at $11.01 billion, up from $10.41 billion in 2023, and is expected to grow at a CAGR of 6.08 per cent to reach $15.74 billion by 2030, according to data from ResearchAndMarkets.com.The luxury end of the pet accessories category was tipped to account for $4 billion of consumer spending in 2023 and is expected to account for $6.3 billion by 2032, according to a report by Market.us.