Global Luxury Handbag Market Overview:
Luxury handbags are an important accessory in the world of fashion. It includes handheld bags, shoulder bags, satchel bags, sling bags, tote bags, backpacks, wallets, and others. Handbags are used by both men and women. The global luxury handbag market is expected to witness a significant growth in near future owing to the number of buying options for a consumer is rising. Moreover, growing population of working women across the world has increased the demand for luxury handbags.
Growth Drivers
- The growing population of working women in developing economies
- Rising number of buying options for consumers
Market Trends
- Increase in use of internet and social media such as Facebook and Instagram for buying the product
Roadblocks
- Availability of pseudo and copy of the original products
Opportunities
- Growing demand for male luxury handbags
Challenges
- Intense market competition worldwide
Competitive Landscape:
Some of the key players profiled in the report are PVH Corp. (Calvin Klein) (United States), Chloe SAS (France), Furla S.p.A (Italy), Giorgio Armani S.p.A. (Armani) (Italy), Tapestry Inc. (Kate Spade) (United States), Marc Jacobs Int. LLC (United States), Michael Kors Holdings Limited (United States), Sungjoo Group (MCM) (South Korea), The Cambridge Satchel Company (United Kingdom) and Gucci (Italy). Additionally, following companies can also be profiled that are part of our coverage like MAUS Freres SA (The Lacoste Group) (Switzerland), MILLY NY (United States) and Longchamp S.A.S. (France). Analyst at AMA Research see United States Vendors to retain maximum share of Global Luxury Handbag market by 2026. Considering Market by Distribution Channel, the sub-segment i.e. Online will boost the Luxury Handbag market. Considering Market by Age Group, the sub-segment i.e. Age 15-25 will boost the Luxury Handbag market. Considering Market by Material, the sub-segment i.e. Cotton will boost the Luxury Handbag market. Considering Market by Gender, the sub-segment i.e. Men will boost the Luxury Handbag market.
The companies are exploring the market in new regions by adopting mergers & acquisitions, expansions, new service launches and collaborations as their preferred strategies. Also, they are implementing various strategies such as, new product development, joint ventures, partnerships and others.
The FTC’s Guides for Select Leather and Imitation Leather Products cover a wide range of items, including luggage, handbags, belts, footwear, and other apparel. Under the Care Labeling Rule, manufacturers and importers must provide instructions so consumers know how to clean the products they buy. and The new FTC guidelines generally warn manufacturers and retailers against misrepresenting the composition of a variety of products often made from leather -- including footwear, luggage, handbags and belts -- and
What Can be Explored with the Luxury Handbag Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Luxury Handbag Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Luxury Handbag
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Luxury Handbag market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Luxury Handbag market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Manufacturers of luxury handbags, Suppliers of handbags subcomponent, Wholesalers, distributers and retailers of luxury handbags, Apparel industry, End User and Online Stores.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.