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NEW YORK, June 24, 2022 /PRNewswire/ — The “Leather Handbags Market by Distribution Channel (Offline and Online) and Geography (APAC, Europe, North America, South Americaand MEA) – Forecast and Analysis 2021-2025“ report has been added to Technavio’s offering. One of the key factors driving the leather handbags market growth is the influence of celebrity endorsements on customer purchase decisions. The fashion industry has been experiencing rapid changes and advancements over the last two decades, mainly owing to the growing fashion-conscious population, particularly in developing regions. In addition, endorsements and the use of fashion products by celebrities influence the customer purchase decision. Celebrity endorsement is a popular marketing tool used by vendors to build their brand image as well as create product awareness and promote products. A group of professionals or celebrities recommending a product can considerably impact customer perception about the product. Vendors often sign multi-year endorsement agreements with high-profile celebrities to enhance their brand value. Selena Gomezan American singer and actress, and Michael B. Jordanan American actor, are brand ambassadors for Coach (a brand by Tapestry Inc.). Customer engagement programs are introduced through offline and online channels to increase awareness. With growing internet penetration globally and the success of social media campaigns, vendors promote their products at a minimal cost.
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The Leather Handbags Market value is set to grow by USD 8.28 billionprogressing at a CAGR of 5% from 2020 to 2025, as per the latest report by Technavio. Moreover, the market is segmented by distribution channel (offline and online) and geography (APAC, Europe, North America, South Americaand MEA).
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Leather Handbags Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5% |
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Market growth 2021-2025 |
$8.28 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
4.01 |
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Regional analysis |
APAC, Europe, North America, South America, and MEA |
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Performing market contribution |
APAC at 37% |
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Key consumer countries |
US, China, Germany, UK, and France |
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Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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Companies profiled |
Burberry Group Plc, Capri Holdings Ltd., Guess? Inc., H & M Hennes & Mauritz AB, Hermès International, Kering SA, LVMH Moet Hennessy – Louis Vuitton, PRADA Group, PVH Corp., and Tapestry Inc. |
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Full story available on Benzinga.com
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