The Global Luggage & Leather Goods segment registered Market value of USD 33,416.59 Million in 2020
The indicator recorded a historical decline (CAGR) of 16% between 2017 to 2020, and is expected to grow by...
GlobalData projects the indicator to grow at a CAGR of...
The Market value of Global Luggage & Leather Goods Segment (2017 - 2024, USD Millions)
Global Luggage & Leather Goods
The luggage and leather goods market values the total sales of bags, wallets & purses, and luggage. Bags, wallets & purses include briefcases, handbags, wallets, and purses. Luggage includes suitcases and travel bags.
The global luggage and leather goods market has been growing at a good rate in recent years. The market is expected to remain stable throughout the forecast period. Department stores accounted for the largest proportion of sales in the global luggage & leather goods market. Counterfeit products pose a serious threat to this market, particularly to the handbags segment of the market. Indeed, the EU has recognized this and has vowed to stop the influx of counterfeit goods from Asia by charging anybody found bringing them into the EU with hefty fines. The bags, wallets and purses segment was the market's most lucrative, accounting for the majority share in the market.
Category segmentation
The luggage & leather goods segment is categorized into two major segments - Luggage and Bags, wallets and purses. Bags, wallets and purses is the largest segment of the global luggage and leather goods market.
Competitive landscape
The global luggage and leather goods market is highly fragmented: retailers range from department stores to more specialized clothing and accessories retailers. Larger players, such as department stores, benefit from scale economies that allow them to negotiate better deals with suppliers and compete more heavily on price. Furthermore, larger retailers tend to sell a multitude of products and, as such, are not solely reliant on revenues generated through the luggage & leather goods market, whereas less diverse retailers face greater competition to obtain and retain buyers.
Market distribution
Department stores form the leading distribution channel in the global luggage and leather goods market.
Who are the leading players?
Isetan Mitsukoshi Holdings Ltd
The company's operations span across four business segments: department store, other retail and specialty store, real estate; and credit and finance/customer organization management. The department store business segment encompasses 12 companies including subsidiaries of Isetan and Mitsukoshi. This is the highest revenue-generating segment of the company. This segment includes both Japanese as well as overseas businesses.
The company operates in a single segment: retailing. It offers products under eight categories: women's apparel, men's apparel and accessories, home, women's accessories including Sephora, children's apparel, family footwear, fine jewelry, and services and others.
LVMH Moet Hennessy Louis Vuitton SA
LVMH Moet Hennessy Louis Vuitton (LVMH or 'the company'), one of the leading luxury goods companies in the world, is engaged in the manufacturing and sale of wines, spirits, perfumes, cosmetics, watches, jewelry, and fashion and leather products. The company operates through six business segments: fashion and leather goods; selective retailing; wines and spirits; perfumes and cosmetics; watches and jewelry; and other activities and holding companies.
Wal-Mart is one of the largest retail companies in the world. The company operates retail stores in various formats worldwide. The company also offers its products through various e-commerce websites, including walmart.com and samsclub.com. Wal-Mart offers a broad merchandise assortment at everyday low prices (EDLP).
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