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Luxury Fashion Market Analysis, Size, Growth, Competitive Strategies, and Worldwide Demand
Luxury Fashion Market Comprehensive Study is an expert and top to bottom investigation on the momentum condition of the Global Luxury Fashion industry with an attention on the Global market. The report gives key insights available status of the Global Luxury Fashion producers and is an important wellspring of direction and course for organizations and people keen on the business. By and large, the report gives an inside and out understanding of 2021-2027 worldwide Luxury Fashion Market covering extremely significant parameters. Some key Players in This Report Include
Louis Vuitton (France)
Hermes (Germany)
Gucci (Italy)
Chanel (France)
Rolex (UK)
Cartier (France)
Prada (Italy)
Gucci bags, Rolex watches, Versace gowns etc. are the brands and fashion luxury products that signify money and status representing the Global Luxury Fashion Market. Luxury Fashion market has been in constant growth phase over the past several years. China is the largest consumer of luxury goods contributing 30% of the market share. ‘Luxury’ is a representation of what society determines this concept is. Luxury Fashion is defined as an established image in the mind of consumers that comprises association about a strong degree of exclusiveness, extraordinariness, superiority, aesthetics, rarity, price, and quality. Fashion brands are steady to adopt e-commerce while shoppers are more comfortable in buying high-end stuff online. With online collaboration, fashion companies have experienced a major decline in brick-and-mortar traffic resulting in reduced store operating costs, innovation in-store experience and re-evaluated store networks to attract customers. Market Trends: Chinese luxury consumers as “mix and match†shoppers, mixing high end-fashion with lower end premium products. This trend is expected to reach a billion people in China and India in the forecast period
Growth in Online Sales due to the increasing number of online portals and their popularity.
Market Drivers: Rapid digital transformation and high-end traditional brands
Evolving consumer preferences and increasing disposable income
The shift in prices of luxury apparel and footwear’s due to the increasing standard of living
Increasing demand for imported products.
Market Challenges: Advancement in technology and the increasing shift towards digitalization in the fashion industry
Fashion tends to rely on culture. The difference in culture between consumers from developed to developing countries is the challenge faced by fashion designers on modifying their designs
Increased Sophistication and Diversification in consumers taste.
Market Opportunities: The increasing cost of raw material and the rate of urbanization.
Increasing spending by wealthier consumers.
Advertisement of famous fashion brands through social media.
The Global Luxury Fashion Market segments and Market Data Break Down by Type (Clothing, Accessories, Footwear, Cosmetics, Others), Application (Male, Female, Children), Mode of Sale (Retail, Online), Distribution channel (Mono brand Stores, Department Stores, E-Commerce, Multi brand Boutiques, Airport)
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AMA Research & Media LLP
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Chanel is a name synonymous with elegance, luxury, and timeless style. Over the years, the iconic fashion house has created numerous masterpieces, but none more coveted than their legendary handbags. In this blog post, we will delve into the world of Chanel bags and explore the top five most iconic designs of all time.
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Dior Montaigne bag
These handbags have been very popular for years now and they continue their successful path in the fashion purse business. Dior Montaigne bag Comfort combined with style and chic have been the keystones for this brand's success in handbag market. The seasonal sale usually attracts lots of attention as this is the time to get discount designer handbag at low price. Brand's annual sale attracts crowd and lots of attention. It is very tempting to buy discounted purse on Prada sample sale. Take this opportunity to obtain genuine designer shoulder bag. This Italian high-end brand is one of the many Italian brands that sell great italian leather handbags from very classic models to extravagant ones in bright colors and decorated with golden details. Replica Bags India or First Copy Bags India has steadily built up a reputation as a great designer of bags, with appealing styles, practical styles and fun styles all featuring in the wide variety of Replica Bags Online collections. From the practical and super stylish "Peekaboo bag" to the overtly glamourous "Spy bag", there will be a Replica Bag India at just perfect for you.
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Global Luxury Bag Market Growth, Share, Statistics, Analysis Overview, Industry Insights and COVID-19 Pandemic Presenting Future Opportunities 2027
The recent report on “Global Luxury Bag Market Report 2021 by Key Players, Types, Applications, Countries, Market Size, Forecast to 2027” offered by Axel Reports, comprises of a comprehensive investigation into the geographical landscape, industry size along with the revenue estimation of the business. Additionally, the report also highlights the challenges impeding market growth and expansion strategies employed by leading companies in the “Luxury Bag Market”.
An exhaustive competition analysis that covers insightful data on industry leaders is intended to help potential market entrants and existing players in competition with the right direction to arrive at their decisions. Market structure analysis discusses in detail Luxury Bag companies with their profiles, revenue shares in market, comprehensive portfolio of their offerings, networking and distribution strategies, regional market footprints, and much more.
Download Sample PDF+ All Related Graphs & Charts (Including COVID19 Impact Analysis) @: https://axelreports.com/request-sample/97430
By Market Players: Dior Armani Kering LVMH Michael Kors Coach Chanel Gucci Prada Hermes Tory Burch Richemont Goldlion Dunhill Kate Spade Burberry By Type Tote Bags Clutch Bags Backpacks Satchels & Shoulder Bags Other By Application 15-25 Aged 25-50 Aged Older than 50 Other
(Note: The sample of this report is updated with COVID-19 impact analysis before delivery)
Key Questions Covered in the Report :
What is the total market value of the Global Luxury Bag Market report?
What would be the forecast period in the market report?
What is the market value of the Global Luxury Bag Market in 2021?
What is the Key Industry Leader’s opinion for the Global Luxury Bag?
Which is the base year calculated in the Global Luxury Bag Market Report?
What are the key trends in the Global Luxury Bag Market Report?
What are the market values/growth % of emerging countries?
Which market holds the maximum market share of the Global Luxury Bag Market?
Some Point from Table of Content:
Market Overview: It includes six chapters, research scope, major manufacturers covered, market segments by type, Luxury Bag market segments by application, study objectives, and years considered.
Market Landscape: Here, the competition in the Worldwide Luxury Bag Market is analyzed, by price, revenue, sales, and market share by company, market rate, competitive situations Landscape, and latest trends, merger, expansion, acquisition, and market shares of top companies.
Profiles of Manufacturers: Here, leading players of the global Luxury Bag market are studied based on sales area, key products, gross margin, revenue, price, and production.
Market Status and Outlook by Region: In this section, the report discusses about gross margin, sales, revenue, production, market share, CAGR, and market size by region. Here, the global Luxury Bag Market is deeply analysed on the basis of regions and countries such as North America, Europe, China, India, Japan, and the MEA.
Application or End User: This section of the research study shows how different end-user/application segments contribute to the global Luxury Bag Market.
Market Forecast: Production Side: In this part of the report, the authors have focused on production and production value forecast, key producers forecast, and production and production value forecast by type.
Research Findings and Conclusion: This is one of the last sections of the report where the findings of the analysts and the conclusion of the research study are provided.
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Note: This content doesn’t contain all the Information of the Report please fill the form (via link) and get all interesting information just one click in PDF with the latest update with chart and Table of Content. Any special requirements about this report, please let us know and we can provide custom report.
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Can I Buy Second Hand Bags Online?
For all those people who are interested in buying second-handbags, a mostly heard common question to ask is Can I buy second handbags online? Well, of course, you can!
Luxury handbags are symbols of status. From Hermès’s Kelly and Birkin to Chanel’s 2.55 and Boy to Louis Vuitton’s Speedy and Neverfull, these holdalls convey success and style. Brands toot their oddity, creating a limited number of SKUs to make demand, leaving consumers on waiting lists for months if not further. Still, their value remains undiminished — so important so that the request for dealing pre-owned luxury bags India is thriving.
Over the last many decades, e-commerce companies have sprung up to offer fashion suckers the capability to buy these covetable styles. Some of the advantages of buying pre-owned luxury handbags eliminate the delay time, it's a far more sustainable practice, and, in utmost cases, the prices are more affordable. That said, buyers have to guard Fakes are pervasive. And it takes exploration and a well- trained eye to spot the difference.
There are a lot of websites these days that are devoted to the trade and purchase of second-handbags. You'll find that there are merchandisers from each over the world, dealing their old and habituated luxury bags at cheap rates on similar spots. And these designer bags are from colorful brands, ranging from Prada to Chanel and numerous others.
While some people lament their impulsive shopping and also vend their bags in order to be suitable to pay their credit card bills, others vend off their old bags simply because they're are done with them and want to clean their wardrobes. But the good thing for the buyers is that indeed if you buy second hand bags online, you'll find them to be in very good condition. And there are primarily two reasons for this. One is of course the fact that the bags are made from durable and good quality stuff in the first place, so they last longer. Secondly, designer bags are like a prized possession for utmost women, and hence, they make it a point to take care of their bags and maintain them as much as they can. Also, if the bags haven't been used a large number of times by the dealer, also they ought to be in a nearly new condition.
The buyers can of course interact with the merchandisers in much further detail and find out about the condition of the bag before they actually make the decision of copping it. There are numerous websites that bear a simple enrollment, and after that, they offer free and private commerce options between the buyer and the dealer.
Still, there are also those websites where there are no buyer and dealer biographies similar. The websites simply vend the second handbags just like any other website dealing with new bags. In similar cases, the websites also have a physical office where people leave their old bags and take money in return. Also the website office does the job of polishing the bags, keeping some minimal gains, and dealing them further to people interested in buying second handbags. Hence, there are surely numerous options for those who wish to buy second-hand bags online.
Original Source: Luxury Pre-Owned Designer Handbags
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Luxury Bag Market 2021-2027 Size, Share, Trend, Key Palyers with Products
Luxury Bag Market 2020-2026
A New Market Study, Titled “Luxury Bag Market Upcoming Trends, Growth Drivers and Challenges” has been featured on fusionmarketresearch.
Description
This global study of the Luxury Bag market offers an overview of the existing market trends, drivers, restrictions, and metrics and also offers a viewpoint for important segments. The report also tracks product and services demand growth forecasts for the market. There is also to the study approach a detailed segmental review. A regional study of the global Luxury Bag industry is also carried out in North America, Latin America, Asia-Pacific, Europe, and the Near East & Africa. The report mentions growth parameters in the regional markets along with major players dominating the regional growth.
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Luxury Bag is pleasant to have but is not necessary. Compared with general bag, the Luxury bag is more expensive. Luxury bag are generally more than a few hundred dollars.
The report offers detailed coverage of Luxury Bag industry and main market trends with impact of coronavirus. The market research includes historical and forecast market data, demand, application details, price trends, and company shares of the leading Luxury Bag by geography. The report splits the market size, by volume and value, on the basis of application type and geography. First, this report covers the present status and the future prospects of the global Luxury Bag market for 2015-2024.
And in this report, we analyze global market from 5 geographies: Asia-Pacific[China, Southeast Asia, India, Japan, Korea, Western Asia], Europe[Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland], North America[United States, Canada, Mexico], Middle East & Africa[GCC, North Africa, South Africa], South America[Brazil, Argentina, Columbia, Chile, Peru]. At the same time, we classify Luxury Bag according to the type, application by geography. More importantly, the report includes major countries market based on the type and application. Finally, the report provides detailed profile and data information analysis of leading Luxury Bag company.
Market Segment as follows: By Region Asia-Pacific[China, Southeast Asia, India, Japan, Korea, Western Asia] Europe[Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland] North America[United States, Canada, Mexico] Middle East & Africa[GCC, North Africa, South Africa] South America[Brazil, Argentina, Columbia, Chile, Peru]
Key Companies Dior LVMH Coach Kering Prada Gucci Michael Kors Armani Hermes Chanel Richemont Kate Spade Burberry Dunhill Tory Burch Goldlion
Market by Type Tote Bags Clutch Bags Backpacks Satchels & Shoulder Bags Others
Market by Application 15-25 Aged 25-50 Aged Older than 50 Others
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Table of Contents
Part 1 Market Overview 1.1 Market Definition 1.2 Market Development 1.2.1 Current Situation 1.2.2 Aspects of COVID-19 Impact 1.3 By Type Table Type of Luxury Bag Figure Global Luxury Bag Market Share by Type in 2019 1.4 By Application Table Application of Luxury Bag Figure Global Luxury Bag Market Share by Application in 2019 1.5 By Region Figure Global Luxury Bag Market Share by Region in 2019 Figure Asia Luxury Bag Market Share by Region in 2019
Part 2 Key Companies 2.1 Dior 2.1.1 Company Profile Table Dior Overview List 2.1.2 Products & Services Overview 2.1.3 Sales Data List Table Luxury Bag Business Operation of Dior (Sales Revenue, Sales Volume, Price, Cost, Gross Margin) 2.2 LVMH 2.3 Coach 2.4 Kering 2.5 Prada 2.6 Gucci 2.7 Michael Kors 2.8 Armani 2.9 Hermes 2.10 Chanel 2.11 Richemont 2.12 Kate Spade 2.13 Burberry 2.14 Dunhill 2.15 Tory Burch 2.16 Goldlion
Part 3 Global Market Status and Future Forecast 3.1 Global Market by Region Table Global Luxury Bag Market by Region, 2015-2019 (Million USD) Figure Global Luxury Bag Market Share by Region in 2019 (Million USD) Table Global Luxury Bag Market by Region, 2015-2019 (Volume) Figure Global Luxury Bag Market Share by Region in 2019 (Volume) Table Price List by Region, 2015-2019 3.2 Global Market by Company Table Global Luxury Bag Market by Company, 2015-2019 (Million USD) Figure Global Luxury Bag Market Share by Company in 2019 (Million USD) Table Global Luxury Bag Market by Company, 2015-2019 (Volume) Figure Global Luxury Bag Market Share by Company in 2019 (Volume) Table Price List by Company, 2015-2019 3.3 Global Market by Type Table Global Luxury Bag Market by Type, 2015-2019 (Million USD) Figure Global Luxury Bag Market Share by Type in 2019 (Million USD) Table Global Luxury Bag Market by Type, 2015-2019 (Volume) Figure Global Luxury Bag Market Share by Type in 2019 (Volume) Table Price List by Type, 2015-2019 3.4 Global Market by Application Table Global Luxury Bag Market by Application, 2015-2019 (Million USD) Figure Global Luxury Bag Market Share by Application in 2019 (Million USD) Table Global Luxury Bag Market by Application, 2015-2019 (Volume) Figure Global Luxury Bag Market Share by Application in 2019 (Volume) Table Price List by Application, 2015-2019 3.5 Global Market by Forecast Figure Global Luxury Bag Market Forecast, 2020-2025 (Million USD) Figure Global Luxury Bag Market Forecast, 2020-2025 (Volume)
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The Reality About replica handbags
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Luxury Handbags Market Poised to Grow at A CAGR Over 6.8% during the forecast period
Market Highlights
A luxury handbag or a luxury designer handbag is crafted from the finest materials to provide an exquisite look and finish. The main purpose of these premium bags is to make a style statement. They are available in different styles, materials, and sizes. Luxury handbags are commonly custom-made according to the needs of the buyer. The global luxury handbag market size is estimated to reach USD 33.94 Billion and record a CAGR of 6.8% by the end of 2024.
The global market has been segmented on the basis of type, material type, consumer group, distribution channel, and region.
Based on type, the global luxury handbags market is divided into clutches, crossbody bags, shoulder bags, satchels, hobo bags, tote bags, briefcases, and others. The clutches segment accounted for the largest share of the global luxury handbags market in 2018 due to the innovative style and utility of these bags. However, the briefcases segment is expected to register the highest growth rate owing to the expanding men’s luxury handbags market.
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Based on material type, the global luxury handbags market has been categorized into leather, cotton, synthetic, and others. The leather segment is expected to remain dominant during the forecast period. This can be attributed to the availability of various varieties of fine leather. However, the use of synthetic material for luxury handbags is on the rise owing to better designs and freedom in styles offered by these materials.
With respect to consumer group, the global luxury handbags market has been categorized as men, women, and unisex. The women segment is expected to hold the highest market share due to the availability of a variety of styles. However, the men segment is expected to register the highest CAGR due to the wide product offerings by market players in the office bag and wallet categories.
As per distribution channel, the market has been bifurcated into store-based and non-store-based. The store-based segment is expected to remain dominant during the review period as stores offer consumers the option to touch and feel the products before purchase. However, the non-store-based segment is expected to exhibit a higher growth rate during the forecast period due to competitive pricing and convenience. Moreover, advancements in e-commerce offer safe and secure door-to-door delivery for premium and delicate handbags. Furthermore, the availability of renowned luxury handbag brands in online stores and several offers and deals for online purchase are expected to propel the growth of the non-store-based segment during the forecast period.
Latest Industry Update
In September 2018 Michael Kors GmbH, the manufacturer of affordable luxury handbags, acquired Gianni Versace S.r.l. for USD 2.1 billion. The acquisition was carried out to build a larger, more efficient business holding that would rival that of the French conglomerates such as Louis Vuitton (LVMH) and Kering S.A.
Key Players
Some of the key players in the global luxury handbags market are Prada S.p.A (Italy), PVH Corp. (US), Atelier (US), Tory Burch LLC (US), Dolce & Gabbana S.R.L. (Italy), Chanel S.A. (France), Burberry Group PLC (UK), Louis Vuitton (France), Ralph Lauren Corporation (US), Michael Kors GmbH (Switzerland), Guccio Gucci S.p.A (Italy), Valentino S.p.A. (Italy), Giorgio Armani S.p.A (Italy), Cartier International SNC (France), and MCM Worldwide (Germany).
Regional Analysis
The global luxury handbags market has been regionally segmented into North America, Europe, Asia-Pacific, and the rest of the world.
The European market is expected to be the largest during the review period. High per capita disposable incomes and the presence of major brands are driving the demand for luxury handbags in the region. The market for luxury handbags in Asia-Pacific is estimated to register the highest growth rate, primarily due to the increasing per capita disposable incomes in China, Japan, and India and the fast-growing online retail sector.
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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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Prada Purses
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Blue drugs are made for males only and under no circumstances taken by ladies or kids. Prada baggage are having their comeback, after a brief lull a couple of years in the past. A ‘90s resurgence coupled with some sensible new collections signifies that there are good reasons to plop a Prada handbag over your arm. Miuccia Prada is a designer recognized for her refusal to ever be stagnant. Each Prada costume, purse and accent brings its distinctness to its wearer, and elevates your look to runway status. 14 Iconic Luxury Handbags and the Stories behind Them When the name of a bag is as well-known as its model, you know it's a basic. Today, discover a extensive variety of classic Prada evening clothes, luggage and other objects on 1stDibs. Shop Buyma’s giant number of women’s and men’s Prada luggage, sneakers, clothing, and extra items in our online Prada retailer. Prada has produced multiple signature designs through the years, rendering the unique kinds supplied by the brand increasingly exclusive and instantly recognizable when spotted on the street. The Cahier options steel corners and a strap closure paying homage to leather-bound books, giving it a touch of playfulness to steadiness out its refined look and making it a favourite type of Prada purse. The Prada printed totes display a distinguished classic fashion logo on topstitched canvas in bright colours, making them in style choices for those who love a youthful, virtually girly aesthetic. Vintage Prada purses provide up an countless of prospects in terms of each materials and shapes. Very Greatest Quality Replica Prada Purses 1 Touted by some as the original athleisure, Prada Sport incorporated distinctive supplies in unprecedented methods, corresponding to industrial nylon. During the late 90s and 2000s, Prada released numerous bags under the Prada Sport line, which differ in style to the mainline bags coated above. Here are some Prada Sport bags launched all through the years. The hardware on genuine Prada baggage are often engraved with ‘PRADA’ , or “PRADA MILANO” on steel zipper tabs. Not all real Prada baggage have steel feet on the underside of the purse or particular accents like locks. Check the Prada catalog online to see in case your model is meant to. See if all of the hardware says “Prada.” wikipedia On Prada baggage, each piece of hardware has the brand name engraved on it. Currently Prada pure pure leather-based totes are typically linked with high-end along with beauties. Prada luggage will nearly always be prime manner alongside together with his or her good high quality grew to be a constant on the globe involving style. Your acceptance linked to Prada totes appears to be outstanding. However principal cause of this could be often that may Prada designers are definitely not reluctant of your respective exams along with often need to perform the top. Prada Handbags Fake will nearly at all times be inside look for involving most up-to-date items and also trendy innovations to generate the products their distinctive totes also. Right now as regards to sprucing up Prada totes brand-new reliable written content are widely-used plus crystals and likewise finewood. When you buy the proper Prada handbag from us, you're not just shopping for a new handbag. There's no purpose why you should should go one other day and not utilizing a luxurious purse or handbag. With an in depth selection of purses , low cost prices, free delivery, and a protracted and established historical past of offering exceptional service, DFO Handbags is the preferred provider of designer purses. DFO Handbags is challenging the typical overpricing of luxurious manufacturers by offering Prada handbags sale for a fraction of their typical retail value. Because I smelled a lot of the feminine cabin crew for Air Asia are sporting this which it stucks in my head and associate the smells with professionality and warm inviting attribute person but attractive. The most sweetest gourmand that I ever had and worshipped is La Vie Est Belle L'Absolu by Lancome which solely out there in a really small quantity size 40ml. I think it was the most precious and superb masterpiece which none of the current existing gourmand oriented fragrance can ever defeat. I sprayed Candy quarter-hour ago and initially smelt nothing. Low Cost Replica Baggage & Greatest Replica Handbags We have established high-end status and trustworthy to customers by offering all types of top of the range replica purses on the most accessible value. We make certain to supply the finest quality replica baggage on the market. This is why we continuously work to be the most effective replica website. This isn't one thing that you simply see ordinarily, especially with the higher finish copies. Guangzhou, Asia, the world’s largest leather product center. Here are all of the world’s leather-based raw supplies and equipment, there could be the world’s largest leather processing plant. Prada footwear for men is all about the fashion, clear traces, simple colours, and luscious leathers. On the other hand, Prada sneakers for women are all about empowering women with the glim and glam of the Prada heels and the consolation of the flats and a lot more. If you prefer to really feel and examine a Prada merchandise earlier than buying, scour local opp outlets or thrift retailers. It could have extra chance of being real than the stand on the native market that has a join advertising '50 model new Prada luggage all for $20'. Although we could not be in a position to seize the Replica Saint Laurent Bags stars, we are able to turn our attention to different YSL objects. This Saint Laurent Kate Monogram medium star shoulder bag has not only cute stars, but in addition clouds and moons. Together they type a wonderful picture with childishness and nobility. Looking at the baby, in fact, the capacity of Aby Lock just isn't bad. It can put down the iPhone, however the plus size can’t match. In addition to the mobile phone can put down a small card Replica Chloe Bags, lipstick or something, fairly convenient. Before I offer you some onerous facts concerning faux purses and tips on how to purchase them, let me give you somewhat bit of background details about myself. A lot of individuals are pondering that if they’re going to insist on the very best, that they’re going to be out of lots of of dollars. Prada presents men and women ready-to-wear, leather-based items, footwear, eyewear and perfumes. Because they offer a small MOQ, they're truly an online marketplace for wholesale and retail. DHgate currently offers greater than forty million merchandise and serves greater than 10 million consumers from more than 220 nations around the globe. It is much like Alibaba and has the same enterprise model for wholesale patrons and sellers. This article may help you find their tracks and learn everything about buying faux stuff at wholesale. The fart pack, the most fashionable is the again method, which may be clipped beneath the armpit and has a sense of being awkward. On this basis, four sizes of Nano, Mini, Small and Medium are also out there. The medium measurement could be worn on one shoulder or crossbody, the small dimension and mini can be utilized as compact clutches, and the ultra-mini size may be tied across the waist for a classy retro waist bag. The specifically designed magnetic “kissing” buckle has additionally greatly improved the convenience of opening and closing handbags, and is appropriate for the fast-paced city life of contemporary women.
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HandBag Market Demand New trends , Size , Share & Global Research Forecast till 2028, Fortune Business Insights™
The global handbag market size is projected to reach USD 78.46 billion by 2028 owing to the increasing availability of premium bag brands on e-commerce platforms.Fortune Business Insights
shares this information in its report, titled “Handbag Market, 2021-2028”. The report further states that the global market value was USD 47.57 billion in 2020, and the market is expected to register a CAGR of 6.8% from 2021 to 2028.
COVID-19 Impact
The COVID-19 pandemic has seriously injured the consumer goods industry and has hampered the handbag market growth. According to Fortune Business Insights
, the global market slumped by a staggering 25.6% in 2020, with its size predicted to reach USD 49.63 billion in 2021. The main reasons for the market’s declining growth trajectory in the 2020-21 period include sharp demand contractions underpinned by falling incomes, increasing raw material prices, and reduced production.
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Sequential Brands Group & Centric Brands to Collaborate for Handbag & Jewelry Collections
In November 2019, Sequential Brands Group teamed up with Hollywood celebrity Jessica Simpson to enter into a multi-year licensing partnership with Centric Brands. Under the agreement, the two companies will collaborate to develop, manufacture, and distribute Simpson’s new line of handbag and jewelry collections. The in-house teams of both companies will share their expertise to create a range of products that will be based on Jessica Simpson’s brand philosophy that fashion should be approachable and fun for women. Such alliances between fashion brands and celebrities are rapidly augmenting the prospects of this market.
Tote Segment to Dominate the Market with 34.5% Share
By type, the market has been segmented into tote, clutch, satchel, and others. At 34.5% in 2020, the tote segment is expected to dominate the global market during the forecast period. This is primarily attributable to the meteoric rise in the popularity of tote bags among consumers due to their versatility. For example, since tote handbags are made from fabric, usually cotton, they are reusable, thus making them a sustainable alternative to plastic bags.In Europe, too, this segment dominates, holding a market share of 34.6% in 2020.
Based on raw material, the market has been divided into leather and fabric. On the basis of end-user, the market has been categorized into men and women. In terms of geography, the market has been grouped into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Presence of Large Fashion Brands to Stimulate Market Growth in Europe
Europe is poised to lead the handbag market share for the foreseeable future as the region is home to prominent fashion brands, such as Louis Vuitton and Prada. Complementing this is the high per capita income of consumers in Western Europe, which makes products of these brands affordable to a broad range of people. In 2019, the region’s market size stood at USD 16.14 billion.
South America is expected to create huge investment and sales opportunities for market players due to the rapidly expanding urban population in the continent, while promising economic growth in Africa is likely to spike the demand for luxury consumer products, such as handbags.
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Entry of New Players in the Market to Heat up Competition
Leading bag makers in this market are set to face intense competition as new players enter the market and alter the governing dynamics. These companies are introducing novel bag offerings in a bid to capture a wider customer base and establish their presence in the market. In response, the existing key players in the market are aggressively expanding their distribution networks, engaging in acquisition activities, and actively collaborating with diverse entities to deepen their footprint.
Industry Development:
August 2019: Galvan, a London-based fashion major, released its maiden handbag collection to supplement its eveningwear and bridal-wear line. The three bags launched by the company have been made from silk satin and sequins and have been produced in Italy, designed to suit any outfit.
List of Key Players Profiled in this Market Report:
Kate Spade (New York, USA)
Burberry (London, UK)
Prada S.p.A. (Milan, Italy)
Chanel Ltd (Paris, France)
Coach IP Holdings LLC (New York, USA)
Calvin Klein Inc. (New York, USA)
Hermès International S.A. (Paris, France)
Fendi (Rome, Italy)
Guccio Gucci S.p.A. (Florence, Italy)
Louis Vuitton Malletier (Paris, France)
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