London, 01 April 2015: Technavio, the independent tech-focused global research firm, has published a report on the Handbags Market in the UK 2015-2019, which is expected to grow at a rapid CAGR of 8.45 percent by revenue and 7.01 percent by volume during the period 2014-2019.
“The increasing inclination toward art has inspired consumers to buy art-influenced handbags. Use of old artistic designs in itself has become a fashion trend in many countries,” says Faisal Ghaus, Vice President of TechNavio.
“Recently, Burberry launched hand-painted bags for women, inspired by the work of Bloomsbury Group. Similarly, popular designer brand Lulu Guinness launched a portrait handbag made of straw.”
Key Market Drivers
- Increase in Consumer Income Levels
- Increase in Demand among Working Women
- Increase in Demand for Male Handbags
- Demand for Eco-friendly Bags
- Emergence of Handbags as a Fashion or Lifestyle Product
- Increase in Affinity Index
- Increase in Expenditure by Young Population
- High Demand for Affordable Luxury Brands
Key Market Trends
- Growing E-commerce in UK
- Increasing Demand for Personalized Bags
- Launch of Exclusive Designer Collections
- Demand for Art-inspired Bags
- Rise in Demand for New Leather Skins
Key Market Vendors
- Burberry Group plc
- Chanel SA
- Coach Inc.
- Guccio Gucci SpA
- Hermès International SA
- LVMH Moët Hennessy
- Michael Kors (USA) Inc.
- Mulberry Group plc
- Prada SpA
- Radley + Co Ltd.
To define the market circumstances 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%…
