LVMH, Richemont and Swatch Group continue to lead overall personal accessories, but the dynamics are changing in individual categories. We discuss the state of global competition as seen through the new edition of personal accessories published on 11 August 2014.
Top Three Lose Ground in Bags and Luggage
The respective market shares for LVMH, Kering (formerly PPR) and Coach all declined between 2012 and 2013. This was not only due to the slowing demand for luxury brands across the world, but also the rise of leading competitors such as Michael Kors, Samsonite and Prada Group.
Global value sales for bags and luggage will grow at a CAGR of 4% over 2014-2019, with luggage and business bags spearheading growth. Although handbags will remain by far the biggest category in 2019, the growth potential for luggage and business bags is likely to inspire several marketing efforts targeted at the male population.