A recent report published by Infinium Global Research on luxury
handbag market provides in-depth analysis of segments and sub-segments in the
global as well as regional luxury handbag market. The study also highlights the
impact of drivers, restraints, and macro indicators on the global and regional
luxury handbag market over the short term as well as long term. The report is a
comprehensive presentation of trends, forecast and dollar values of global
luxury handbag market. According to the report, the global luxury handbag
market is projected to grow at a CAGR of 7.2% over the forecast period of
2019-2025.
Rapid changes and advances are taking place in the fashion
industry. The changing lifestyle of the young generation is promoting changes
in the fashion industry. The leading players in the luxury handbag market are
focusing on new product launches, mergers and acquisitions to expand their
market share. For instance, Michael Kors Holdings Limited acquired Versace
fashion house. The acquisition of Versace has made Michael Kors Holdings
Limited a leading global fashion luxury group in the world.
The changing taste and preferences are contributing to changes in
the fashion industry. The availability of handbags in attractive shapes and sizes
drive the growth of the luxury handbag market. The new innovative and trendy
bags are contributing to the growth of the luxury handbag market. The
increasing number of working women and rising disposable income boosts the
growth of the luxury handbag market. In addition, the growing demand for
multipurpose bags stimulates the growth of the luxury handbag market. On the
other hand, the availability of duplicate premium luxury bags hinders the
growth of the luxury handbag market. Moreover, new developments in luxury
handbags such as tech-handbags that combine technology with fashion to form
handbags create opportunities for the growth of the luxury handbag market. The
new high-tech handbags have facilities such as phone chargers and tracking
devices.
Geographically, the global luxury handbag market is segmented into
North America, Asia-Pacific, Europe, and the Rest of the World. Europe is
anticipated to have a dominant share in the luxury handbag market. The easy
availability of premium handbags and rising disposable income contribute to the
growth of the luxury handbag market in Europe. Asia-Pacific region is expected
to grow in the luxury handbag market. The changing fashion trends in the
Asia-Pacific region propel the growth of the luxury handbag market in the
Asia-Pacific region. North America is also expected to have a significant
growth in the luxury handbag market over the forecast period.
The report on global luxury handbag market covers segments such as
type, material, gender, and distribution channel. On the basis of type, the
sub-markets include handbag, backpack, wallet, and other types. On the basis of
material, the sub-markets include cotton, leather, nylon, and synthetic. On the
basis of gender, the sub-markets include men, and women. On the basis of
distribution channel, the sub-markets include retailer, department stores, and
online channels.
The report provides profiles of the companies in the market such
as Wan Lima, Macy’s, Inc., Michael Kors Holdings Limited, Phillip Lim, Proenza
Schouler, Derek Alexander, Stella McCartney, Rebecca Minkoff, PVH Corp., Gucci,
and Other companies.
The report provides deep insights into the demand forecasts,
market trends, and micro and macro indicators. In addition, this report
provides insights into the factors that are driving and restraining the growth
in this market. Moreover, The IGR-Growth Matrix analysis given in the report
brings an insight into the investment areas that existing or new market players
can consider. The report provides insights into the market using analytical
tools such as Porter's five forces analysis and DRO analysis of the luxury handbag
market. Moreover, the study highlights current market trends and provides
forecast from 2019-2025. We also have highlighted future trends in the market
that will affect the demand during the forecast period. Moreover, the
competitive analysis given in each regional market brings an insight into the
market share of the leading players.
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