Scope of the Study
Luxury bags are made of premium quality material as compared to general bags. They are more attractive in design and also expensive. It offers the feel on luxury without compromising on the quality. These bags includes handbag, shoulder bag, satchel bag, sling bags and others. These bags are available online as well as the specialty stores. Moreover, luxury bags are used and endorsed by celebrities which is propelling the market growth.
The market study is being classified by Type (Handbag, Shoulder Bags, Satchel Bags, Sling Bags, Tote Bags, Hobo Bags, Duffle Bags and Others) and major geographies with country level break-up.
Christian Dior (France), LVMH (France), Coach (United States), Kering (France), Prada (Italy), Gucci (Italy), Michael Kors (Unites States), Armani (Italy), Hermes (France) and Chanel (France) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Richemont (Switzerland), Kate Spade (United States), Burberry (United States), Dunhill (United Kingdom), Tory Burch (United States) and Goldlion (China).
The market of Luxury bag consists of major players who are looking for development of new products and to supply the products in various geographic regions through mergers and acquisitions. The emerging economies are to estimate positive growth due to the factors such as increasing disposable income and growing e-commerce industry in upcoming years. Research Analyst at AMA predicts that France, Italy Vendors will contribute to the maximum growth of Global Luxury Bag market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Luxury Bag market by Type, Application and Region.
On the basis of geography, the market of Luxury Bag has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increasing Disposable Income in Emerging Economies
- Growing Number of Working Women
- Improvements in Bucket Bags, Satchel and Clutch Handbags
- Availability of Dummy Copies of Luxury Bags may hamper the Market Growth
- High Costs Associated with Luxury Bags
- Growing E-Commerce Industry is leading to Easy Availability of Luxury Bags
- Introduction of New Designs and Patterns due to Growing Competition
Market Leaders and their expansionary development strategies
In April 2019, LVMH has announced that the necessary clearances has been received for the acquisition of Belmond. and In November 2019, Prada has acquired Fratelli Prada. This acquisition will allow the company to control the four Prada stores in Milan
In 2019, Away has launched new Tote bags, the latitude and longitude. They are designed for weeklong travel, a day at office or quick getaway. Also, these bags are easy to carry and simple.
Key Target AudienceManufacturers, Raw Material Suppliers, Distributors and Traders, Research Organisations, Government Agencies and Organisations
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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