Global Leather Handbags Market is expected to grow with a stable CAGR in the forecast period of 2019-2026. The report contains data from the base year of 2018, and the historic year of 2017. This rise in market value can be attributed to the growing adoption of fashion wear and fashionable accessories that has been a result of increase in overall disposable income of individuals globally.
Global Leather Handbags Market By Bag Type (Wallet, Shoulder Bag, Sling Bag, Others), Distribution Channel (Direct, Retail, E-Commerce), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
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Few of the major competitors currently working in the leather handbags market are Hermès; KERING; LVMH; PRADA; Burberry; Bulgari; Richemont; Tapestry, Inc.; Michael Kors; HIDESIGN; Steve Madden; GUESS?, Inc.; CALVIN KLEIN; H&M Hennes & Mauritz AB; Fossil Group; MARC JACOBS INTERNATIONAL, LLC; Others.
Market Definition: Global Leather Handbags Market
Leather handbags can be defined a fashion accessory that is made up of high quality leather making their operational life highly enhanced and making the product more durable. Usage of leather in handbags results in the advanced appeal of the product and making the product include more features and characteristics like more compartments, pockets, and etc.
- Improvement in the entire production process enhancing the durability and life of the product has resulted in increased demand for the product
- Increased collaborations by the various brands and manufacturers with various celebrities and sports personalities which induces the adoption of the product from various consumers and user; this factor is expected to act as a driver for the market growth
- Availability of various counterfeit products from the local manufacturers in the developing regions is expected to act as a restraint to the market growth
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Segmentation: Global Leather Handbags Market
By Bag Type
- Shoulder Bag
- Sling Bag
By Distribution Channel
- North America
- South America
- Middle East & Africa
Key Developments in the Market:
- In August 2018, HIDESIGN announced the inauguration of their retail outlet stores in Sarajevo, Bosnia. This expansion will help the company serve and expand their product offerings and service capabilities globally.
- In April 2018, Hermès announced that they had inaugurated a new manufacturing plant situated in France. The manufacturing plant will help the company keep up with the growing demand for leather goods from the Chinese market and various other regions globally.
Competitive Analysis: Global Leather Handbags Market
Global leather handbags market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of leather handbags market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Insights in the report:
- Competitive analysis of key competitors involved in the market
- Complete analysis of market segmentation and which segments are set to flourish in the forecast period of 2019 to 2026
- Market drivers and restraints analysis along with the analysis of the market structure
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