Westford, USA, July 20, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest's latest global research of the Leather Goods Market, growing demand for sustainable and eco-friendly leather products, increasing popularity of vegan leather alternatives, rise of online and direct-to-consumer sales channels, focus on personalized and customizable leather goods, integration of technology in leather accessories, resurgence of vintage and retro styles, emphasis on ethical and transparent sourcing practices, incorporation of innovative materials and designs, expanding market for gender-neutral and unisex leather products, growing interest in artisanal and handcrafted leather goods, are the trends that aid in the market's growth.
Browse in-depth TOC on the "Leather Goods Market"
- Pages – 261
- Tables - 63
- Figures - 75
Leather goods are items made from animal hides that have been processed and treated to make them suitable for use. They can be used to make a wide variety of products, including bags, wallets, belts, shoes, and furniture. Leather goods are often seen as being high-quality and durable, and they can last for many years with proper care.
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Prominent Players in Leather Goods Market
- Louis Vuitton
- Hermes
- Gucci
- Prada
- Bottega Veneta
- Salvatore Ferragamo
- Dior
- Cartier
- Burberry
- Saint Laurent
- Chloe
- Fendi
- Givenchy
- Balenciaga
- Tod's
- Mulberry
- Jimmy Choo
- Valentino
- Max Mara
- Ralph Lauren
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Leather Bags Demand to Grow Substantially in the Forecast Period
Leather bags dominated the global online market as they offer versatility in design and functionality, catering to a wide range of usage scenarios. From handbags to backpacks and crossbody bags, they serve various purposes for different occasions, making them highly sought after by consumers.
Fashion and Casual are the Leading Application Segment
In terms of application, the fashion and casual are the leading segment due to the increasing consumer of all ages and demographics requiring leather goods for everyday use, such as handbags, wallets, belts, and casual footwear. This widespread demand contributes to steady sales in this segment.
Europe is the leading Market Due to the Cultural History
Region-wise, North America is one of the largest growing markets with a huge cultural history. Countries like Italy, France, Spain, and the United Kingdom are renowned for producing luxury leather goods and iconic fashion brands. The region's focus on artisanal craftsmanship, timeless designs, and prestigious fashion houses contributes to its prominence in the global leather goods market.
A recent report thoroughly analyzes the major players operating within the Leather Goods market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavors to develop innovative solutions that cater to the ever-increasing demand for Leather Goods.
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Key Developments in Leather Goods Market
- In March 2023, Prada announced that it would acquire Church's, a British footwear brand that has been in business for over 200 years. The acquisition will give Prada a stronger position in the global footwear market, and it will also allow Prada to tap into Church's expertise in craftsmanship.
- In January 2023, Hermès announced that it would acquire Shang Xia, a Chinese luxury brand that specializes in leather goods. The acquisition will give Hermès a stronger foothold in the Chinese market, and it will also allow Hermès to tap into Shang Xia's expertise in sustainable leather production.
Key Questions Answered in Leather Goods Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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