Global Personal Accessories Market 2015-2019
About Personal Accessories Market
This report on the global personal accessories market is structured keeping in mind the jewelry, bags, watches, and writing and marking instruments market. The personal accessories market is considered to be a very niche market, which is slowly making its mark on the global forum. India, US, and China are the largest jewelry markets. The bags and watches markets are expected to grow due to innovation and technological advancements while the writing and marking instruments market is expected to grow due to an increase in literacy levels.
The global personal accessories market is expected to grow at a CAGR of 9.01% for the forecast period of 2014-2019.
Covered in this Report
This market discusses the current as well as forecasts the future prospects of the global personal accessories market for the period of 2015-2019. The market size is calculated taking into consideration the retail sales of the following product segments:
Technavio Announces the Publication of its Research Report – Global Personal Accessories Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Personal Accessories Market: Coach, Kering, LVMH and Prada Group
Other Prominent Vendors in the market are: ADD, AT Cross Company, Burberry Group, Chanel, Compagnie Financière Richemont, Crayola, Dolce & Gabbana, Gitanjali Group, Giorgio Armani, Hugo Boss, Kalyan Jewellers, Mulberry, Pandora, Ralph Lauren, Rolex, Swatch Group, Tiffany & Company, Titan Company, Tod's Group and Tory Burch
Commenting on the report, an analyst from Technavio’s team said: “The concept of premiumization has been witnessed in almost every category in the personal accessories segments. In countries such as the US, China and India, customers are brand conscious and always looking for some value addition to their products and they are willing to pay more as well. In India and China, people are becoming aware of international brands and are slowly adhering to the concept of westernization. Also there is an urge among many consumer to be portrayed as 'exclusive'. This has led manufacturers to introduce many premium range products in the market. For instance, Bentley Motors has come up with a premium range of handbags.”
According to the report, there has always been a relationship between luxury items and special occasions such as birthdays, anniversaries and weddings. The sale of personal accessories such as jewelry, bags, and watches have become a part of various occasions, thereby driving market growth. In India and China, gold jewelry is regarded as a favorable stock of value; this makes it a perfect gift for weddings. Similarly, watches are ideal gifts for occasions such as birthdays and anniversaries.
Further, the report states that high fragmentation of the market, leading to fierce competition, hinders market growth.
Coach, Kering, LVMH, Prada Group, ADD, AT Cross Company, Burberry Group, Chanel, Compagnie Financière Richemont, Crayola, Dolce & Gabbana, Gitanjali Group, Giorgio Armani, Hugo Boss, Kalyan Jewellers, Mulberry, Pandora, Ralph Lauren, Rolex, Swatch Group, Tiffany & Company, Titan Company, Tod's Group, Tory Burch
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