Do-It-Yourself: market research reports
Handbags have become an important accessory in the fashion world, and are often used as completion pieces for a woman’s wardrobe. They promote growth in the fashion industry, and designers are including handbags in their collections more often to increase revenue. The fashion and luxury market has a direct impact on the different designs that come out of the handbag industry, as one complements the other.
As many designers have started to open their own stores, competition in the handbag industry has become commonplace. Premier handbag companies will sell not only their own designer pieces, but luxury brands and private labels as well. The designer handbag brands that come out of Europe make up the largest market in the industry. Europe typically sells their handbags through independent retailers and specialist chains. Outside of Europe, other countries are on the rise in their creation and distribution of handbags with new strategies and initiatives. Handbag companies are also beginning to adjust their distribution practices so they can provide more effectively for the needs of their consumer, as well as reducing their operational costs.