Key vendors to strategically increase their sales through pro shops retail format
Technavio, a company that develops over 2000 pieces of research every year and covers more than 500 technologies across 80 countries, has announced the top five leading vendors for the global leather goods market in their latest research report. This report also lists 6 other prominent vendors who are expected to contribute to this market’s growth between 2016-2020.
To identify the top vendors, Technavio’s market research analysts have taken into account the revenue generated from the retail sales of leather goods.
This Technavio report, under the general retail goods and services vertical, is based on the synthesis, analysis, and interpretation of information about the global leather goods market collected from specialized sources. The analysts have derived insights using a mix of primary and secondary research with an aim to provide a holistic picture of the market.
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Competitive vendor landscape
The global market for leather goods is highly fragmented owing to the presence of numerous vendors in the market. Manufacturers in the market are developing and offering new and innovative products to meet the changing demands of customers in accordance with the latest fashion and lifestyle trends. Celebrity endorsements and fashion events are some of the key marketing strategies adopted by manufacturers to showcase their new product offerings. The product launches, a rise in the number of mergers and acquisitions in recent years, and the increasing investment in marketing strategies are some of the factors that will fuel the intense competition in the global leather goods market in the coming years.
“Customization has found its way into the global leather goods market as well. Changes in the spending and buying patterns of consumers has led to an upsurge in the demand for customization and personalization of leather goods. Brands such as Vans and Nike allow customers to design their own footwear using color editing options to customize the sole, laces, and embroidery by adding a name to create a personalized effect,” says Brijesh Kumar Choubey, a lead analyst at Technavio for research on general retail goods and services.
The key vendors in the global leather goods market include Adidas, Burberry, Chanel, Dolce & Gabbana, Giorgio Armani, Coach, Gianni Versace, Hermès, Kering, LVMH Moët Hennessy Louis Vuitton (LVMH), Prada, Ralph Lauren, Richemont, Valentino Fashion Group, and VF Corporation.
The top five vendors in the leather goods market space are discussed below:
Adidas
The company, along with its subsidiaries, engages in the design, manufacture, and marketing of athletic and sports lifestyle products globally. In FY2015, the company reported around $19 billion in revenue. As of December 2015, Adidas had 55,555 employees and operated more than 2,700 own-retail stores, 116,000 wholesale stores, and 11,000 mono-branded franchise stores. The company also offers its products through nearly 50 own e-commerce sites. It markets over 660 million products in above 160 countries every year.
Key products: Apparel, Shoes, Bags, and Backpacks.
Burberry
Burberry designs and manufactures luxury goods for men, women, and children. The company sells its products through Burberry mainline stores, department stores, concession stores, franchise outlets, and e-commerce platforms. In FY2015, it reported around $4 billion in revenue. Burberry designs most of its products in the UK. The production of the company’s finished goods takes place in EMEIA.
Key products: Bags, Belts, Coats and jackets, Sandals, Shoes, Passport covers, Gloves and watches, and Wallets.
Chanel
Chanel is a retail company focused on fashion wear, fragrances, beauty care products, accessories, fine jewelry, and watches. It also offers leather goods, sports accessories, shoes, eyewear, cosmetic products, skin care items, and others. Chanel also sells its products online. The company operates through a wide network of department stores and specialty stores across the world. Chanel products are manufactured by third-party manufacturers that are located in mainland China and other Asia countries. The company also has its own manufacturing plant. In December 2013, the company acquired Bodin-Joyeux.
Key products: Handbags, Shoes, sandals, and boots, Belts, Scarves, and Gloves.
Dolce and Gabbana
Dolce & Gabbana offers leather goods, jewelry, clothing, and watches. It also offers eyewear and beauty products through its licensees. It sells its products through mono-brand stores and online platforms. Dolce & Gabbana manufactures its products through its own manufacturing plant that is located in Rome, Italy. It also gets its products from external manufacturers in Asia and Europe.
Key products: Wallets, Backpacks, Boots and shoes, Mini bags, Sneakers, and Bucket bags.
Giorgio Armani
Giorgio Armani offers clothing and accessories for men, women, and kids. It offers jackets, trousers, denims, leather products, dresses, T-shirts and sweatshirts, tops and blouses, perfumes and cosmetics, bags and shoes, and scarves. It sells its products online and through resellers and boutiques. The company sources its materials from countries like Indonesia, Slovakia, Turkey, and Italy. It also gets finished products from external manufacturers located in Europe and the Americas.
Key products: Belts, Shoes and boots, Leather briefcases, Wallets, and Sandals and gloves.
Other prominent vendors in this market include Bata, Dapai International Holdings, GOLDKRONE, Nike, Samsonite, and Vera Bradley.
A more detailed analysis is available in the Technavio report, Global Leather Goods Market 2016-2020. Technavio also customizes reports by other regions and specific segments upon request.
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