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1 Koncept Analytics Publisher Sample Phone: (US) or or (Int'l) Hours: Monday - Thursday: 5:30am - 6:30pm EST Fridays: 5:30am - 5:30pm EST customerservice@marketresearch.com MarketResearch.com
2 Executive Summary Handbags and accessories are among the fastest growing segments in the overall luxury goods industry. Despite the fact that the handbags market caters to both male as well as female customers, it is predominantly seen as a women-oriented market because of the relatively larger options of patterns, sizes and colors it offers to women as compared to the products designed for men, which are clearly limited to a set of designs and patterns, particularly the pouch style. The global market for accessories, including handbags, is incessantly rising since recession and is further expected to be a highly growing and profitable market for the next couple of years. This growth is largely driven by rise in disposable income, expanding middle class, growing preference for branded products and rising number of wealthy consumers worldwide. Moreover, the handbag market encompasses dynamic players and an expanding consumer base, which is expected to flourish due to increasing demand from emerging markets and strong performances by the international luxury brands. Escalation in the handbags market worldwide can be observed as a result of aggressive presence on social media and fashion shows. Other principal trends of the respective market include enhancing demand for small and medium silhouette handbags and cross bodies, brand strengthening efforts by majority of leading companies and insurance of handbags. The key factors driving growth of the global handbags industry include rising number of high net worth individuals, increasing working women population, accelerating online sales trend, improvement in global economic growth, and increasing potential of emerging markets. However, the growth of handbag industry is hindered by the risk of counterfeiting and strict regulatory issues on premium handbags. The market for handbags is highly competitive with several players operating both at a global and regional level. Fashion, price and diversities are the key factors responsible for driving competition in the market. The leading players include Channel, Gucci, Louis Vuitton, Hèrmes, Prada, Burberry and Michael Kors, among others. The report Global Handbags Market analyzes the development of this market, with focus on women s accessories and handbag industry. The major trends, growth drivers as well as issues being faced by the industry are discussed in detail in this report. The four major players in the industry, Coach, Louis Vuitton, Burberry and Michael Kors, are being profiled along with their key financials and strategies for growth. The report contains a comprehensive analysis of the global handbag industry along with the study of regional markets.
3 2013E 2015E 2015E 2016E 2017E Key factors driving growth of the global handbags industry include increasing working women population, accelerating online sales trend, and increasing potential of emerging markets Global Premium Handbags and Accessories Market (-2017F) The global premium handbag and accessories market is expected to grow at a CAGR of.% from US$... billion in to US$... billion by The North America premium handbag and accessories market was worth US$... billion while the Asian market had a value of US$... billion in. The handbag and accessories market accounted for an estimated value of US$... billion in 2013, depicting a growth of %, compared to. As of 2013, global men s leather good and accessories market accounted for US$... billion, representing an annual incline of %, compared to US$... billion in the prior year. The worth of the market is projected to reach US$... billion by 2017, up by %, compared to that of Within the global men s market for premium bags and accessories, China accounted for.% market, followed by Japan with % share in North America held % of the share of the men s market in the aforementioned period. Global Men s Leather Goods and Accessories Market (-2017E) Global Market of Men s Premium Bags and Accessories by Region (2013) E 2015E 2016E 2017E Men's LG & accessories () North America China Japan Others
4 E Escalation in the handbags market worldwide can be observed as a result of aggressive presence on social media and fashion shows Exports of Travel Goods (2006-) For the period spanning 2009-, the export value (in current prices) of SITC group 831 grew at a CAGR of %. SITC (Standard International Trade Classification) group 831 includes travel goods, handbags, etc of leather, plastic textile and others. The same accounted for US$... billion, up by %, compared to US$... billion in the previous year. Eastern Asia accounted for a majority of exports of travel goods. In, its exports amounted to US$.. billion while imports were valued at US$.. billion. Top deficits were recorded by Developed North America, amounting for US$... billion. Developed Asia-Pacific and Latin America and the Caribbean also experienced deficit of US$... billion and US$... billion, respectively. The retail sales of women accessories market in the US accounted for expected US$... billion sales in 2013, representing % incline compared to sales in the previous year. By volume, total number of women accessories sold in amounted to.million units, depicting a decline of % from previous year. Exports of Travel Goods by Country () The US Women s Accessories Market ( E) China Hong Kong SAR Italy France Germany Belgium The US Vietnam India Netherlands Others
5 Different types of bags, including briefcases for work, strolling and visiting bags for daytime, elegant evening bags, et cetera Chinese Luxury Goods Market ( ) Global Market of Women s Premium Bags and Accessories by Region (2013) China is projected to be the largest contributor to the future growth of the global industry for luxury goods among others countries. Chinese luxury goods market grew from US$... billion in to US$... billion in 2013, representing an annual growth of %. North America accounted for largest share of.% in women s premium bags and accessories market, which was worth US$... billion in It was followed by Japan which held.% share. Women s premium bags and accessories market in China had.% share in the aforementioned period. As of 2013, Korean accessories industry was valued at approximately US$... billion, depicting a.% incline, compared to US$... billion in the prior year. The cited market has grown at a splendid CAGR of % in the period As Korea s affluence and discretionary spending has surged post recession, so has Korean s interest in international accessories brands. Korean Accessories Market Value and Growth Rate ( E) E North America China Japan Others
6 Tod Ferragamo Prada Louis Vuitton Burberry Gucci Bottega Veneta Coach Handbags market is predominantly seen as a women-oriented market because of the relatively larger options of patterns, sizes and colors it offers to women as compared to the products designed for men The US Handbag Market by Revenue and YOY Growth (2006-) Men s Business Share of Revenues By Company () The retail sales of women handbags marked an increase of.% from US$... billion in to US$... billion in. Price increase of handbags mainly contributed to the growth of revenue. Women preferred to buy small silhouettes because they were an affordable luxury on which they could justify spending as an investment. Although most of the handbags were purchased from stores but online sales are also becoming popular. Men s market accounts for approximately % share in accessories market and hence comprise an important segment. As of, roughly % of the revenue of Tod and Ferragamo came from men s business, followed by Prada which generates.% of the sales from this category. Louis Vuitton and Burberry produced % of their sales for men s category sales in the aforementioned year. As of fiscal , Coach topped the North America handbags market with a total of US$...million sales of handbags. It is followed by Michael Kors with handbag sales worth US$... million. Louis Vuitton is another major player in the respective market accounting for US$... worth sales. Gucci and Kate Spade compete with US$... million and US$... million sales, respectively, in the aforementioned period. Note: Market attractiveness is inverse of penetration. Low penetration means high attractiveness and vice-versa
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