Handbags Market in APAC 2015-2019
About Handbags Market in APAC
Handbags are among the most desirable and popular fashion products for men and women, and have become status symbols. Consequently, demand for luxury and premium handbags is growing. Various handbag companies are adopting innovative strategies according to changing consumer demography and preferences such as rising demand for eco-friendly handbags. Also, the launch of designer bags exclusively for men is gaining attention in the market. In 2014, the handbags market in APAC was dominated by the shoulder bags segment. In terms of distribution, specialist retailers accounted for the largest share in the sales of handbags in APAC.
Technavio's analysts forecast the handbags market in APAC, in terms of revenue and volume, to grow at CAGRs of 6.5% and 6.2%, respectively, over the period 2014-2019.
Covered in this Report
The handbags market in APAC can be segmented into four segments: totes, shoulder bags, purses and wallets, and satchels and saddle bags. The shoulder bags was the largest segment in terms of both revenue and volume, accounting for 31.7% and 29% share of the market in 2014.
Technavio's report, the Handbags Market in APAC 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. It covers the market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Handbags Market in APAC 2015-2019
Technavio recognizes the following companies as the key players in the handbags market in APAC: Burberry, Chanel, Coach, Hermès International, Kate Spade, LVMH, Michael Kors, Mulberry and Prada
Other Prominent Vendors in the market are: Alfred Dunhill, Baggit, Bottega Veneta, Buggatti, Caprese, Changshu Maydiang Group, Da Milano, Dolce & Gabbana, Donna Karan International (DKNY), Fossil, Guess, Giordano Fashions, Hidesign, KIKUHIRO, Lavie, Lipault Paris, Longchamp, Mango Bags, Nagatani, Oroton Group, Phive Rivers, PUIG, Ralph Lauren, River Island, Samantha Thavasa Japan, Strandbags Group, The House of Tara, Veda Lifestyle and VF
Commenting on the report, an analyst from Technavio’s team said: “Improving economic conditions and the economically active middle-class are attracting international handbag players to the country. However, the presence of stringent regulations in multi-brand retailing is restricting the entry of many global brands to the market.”
According to the report, most APAC countries are expected to register healthy growth over the next five years. India is expected to register double-digit growth. China will continue to grow steadily over the forecast period. Thailand is expected to attract more manufacturers and retailers due to its mass market, low-cost entry, and increasing consumer spending (mainly by the middle-class population). Singapore and Australia are expected to have slower growth as a result of market saturation.
Further, the report states that the Chinese government has imposed high import taxes on foreign brands such as LVMH, Gucci, and Coach, which has resulted in decrease in handbags sold within China.
Burberry, Chanel, Coach, Hermès International, Kate Spade, LVMH, Michael Kors, Mulberry, Prada, Alfred Dunhill, Baggit, Bottega Veneta, Buggatti, Caprese, Changshu Maydiang Group, Da Milano, Dolce & Gabbana, Donna Karan International (DKNY), Fossil, Guess, Giordano Fashions, Hidesign, KIKUHIRO, Lavie, Lipault Paris, Longchamp, Mango Bags, Nagatani, Oroton Group, Phive Rivers, PUIG, Ralph Lauren, River Island, Samantha Thavasa Japan, Strandbags Group, The House of Tara, Veda Lifestyle, VF
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