- The key vendors in the Handbags Market in Russia 2015-2019 are Chanel, Christian Dior, Coach, Hermes International, LVMH, Michael Kors, Mulberry, Prada and Tory Burch
London, 10 April 2015: TechNavio, an independent tech-focused global research firm, has announced the publication of its market research report on the Handbags Market in Russia 2015-2019. New product launches and R&D is one of the key trends upcoming in the market. Vendors are continually trying to innovate with their product offerings, in terms of design, color, shape, and weight, to meet the varied needs of consumers. For instance, vendors use leather and microfibers to manufacture lightweight handbags. The handbags market in Russia is witnessing steady growth in terms of revenue and volume and is expected to post a CAGR of 6.01% and 4.95%, respectively, during the forecast period of 2014-2019.
“Consumers are associating handbags with their social status. The introduction of new ergonomic designs, fashionable trendy colors, and textures in handbags has helped them gain importance as fashion accessories,” says Faisal Ghaus, Vice President of Technavio Research.
“Vendors are associating with renowned handbag designers, thereby launching separate designer collection brand lines. Many vendors are also appointing famous celebrities to endorse their brands to create an image and position their product as a lifestyle product.”
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.
If you are interested in more information on this topic and our upcoming research on the Handbags Market in Russia 2015-2019; please send an e-mail to media@TechNavio.com
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