- The key vendors in the handbags market in BRIC are Chanel, Christian Dior, Coach, D&G, Hermès International, LVMH, Michael Kors, Mulberry, Prada and Tory Burch.
London, 11 May 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the handbags market in BRIC 2015-2019. Emergence of handbags as a fashion/lifestyle product is one of the latest trends emerging in the market. Consumers are associating handbags with social status. The introduction of ergonomic designs, trendy colors, finishing and textures in handbags have helped them gain popularity as fashion accessories. The handbags market in BRIC is expected to grow at a CAGR of 7.41% and 7.02 % during the forecast period 2014-2019, as per revenue and volume, respectively.
The economy of the BRIC countries has been improving, despite the high rates of inflation. It has recovered from the 2008-2009 recession and the Eurozone crisis, with increasing per capita GDP and GDP based on PPP. This is a major driver in the market, which is expected to stimulate the market growth.
“An increase in the number of working women is resulting in increased demand for handbags. Most women use their handbags for multiple purposes, such as carrying laptops or tablets, wallets and food,” says Faisal Ghaus, Vice President of Technavio Research.
“Handbags are also seen as status symbols and representative of individual identity, which is expected to fuel the growth of the market in the coming years.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
