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Summary of our market study
The French leather goods market exceeds €3.5 billion.
Asian buyers are showing a marked appetite for leather goods. Sales in the Asia-Pacific region account for over 40% of the global market share.
Counterfeiting is a major problem for the leather goods industry.
The market is characterized by a strong dependence on subcontracting, with some luxury brands outsourcing a significant proportion of their production.
trends in the French leather goods market
The market encompasses a range of high-end products, including leather bags, wallets and belts.
The French leather goods market, renowned for its fine craftsmanship and luxury segment, is growing and responding to robust international demand, particularly in the Asia-Pacific region.
Exports total over €7 billion and are growing at an annual rate of almost 8%.
Sales of luxury leather goods in France are mainly concentrated around three players, LVMH, Hermes International and Kering, who dominate the market.
Digital sales channels are gaining ground, with internet sales accounting for 12.3% of total sales.
Trends towards sustainability and ethical consumerism are beginning to reshape market dynamics.
This is prompting brands to reconsider their manufacturing processes and product ranges, integrating more environmentally-friendly, non-animal-derived materials.
Despite these challenges, the "Made in France" label continues to reinforce the reputation of French leather goods beyond the luxury sector.
Three groups dominate the French luxury leather goods market: LVMH, Hermès and Kering
- LVMH Moët Hennessy Louis Vuitton, often referred to simply as LVMH, represents a colossal force, with a range of luxury brands, Louis Vuitton, Céline, Christian Dior and Loewe.
- Hermès is renowned for its understated elegance and time-honored craftsmanship. Its iconic Birkin and Kelly bags are coveted status symbols.
- Kering, has risen to prominence with its own impressive list of luxury brands, bringing to the market a diverse mix of heritage and modernity ,Gucci, Bottega Veneta, Yves Saint Laurent.
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Summary and extracts
1 Market overview
1.1 Definition and scope of the study
Leather goods include the manufacture and distribution of small, fine leather goods, generally in the luxury sector. This includes leather bags, wallets, bracelets, belts, saddlery and car accessories, for example, but excludes glove-making and shoe-making.
France excels in this sector of high value-added activities requiring a skilled workforce. Its companies, major international luxury groups, export the "made in France " brand image to perfection, particularly in Asia where demand has been growing for several years.
But leather goods figures are also growing within France, boosted by a flourishing tourism industry after a drop in 2016, as well as a favorable economic context for individuals.
The leather goods industry is thus evolving in a high competitive environment, where fashion effects are obviously present; it is therefore appropriate for companies present in the market to adapt as finely as possible to demand, especially for new players who must build a brand image.Finally, the leather industry in general is threatened by a growing environmental and animal awareness of the population, favoring alternative products that are more environmentally friendly and of vegetable or synthetic origin.
The COVID-19 health crisis has drastically reduced activity in the luxury sector, and therefore in the leather goods segment. Indeed, as a large part of the activity is determined by external demand and the arrival of tourists in France, the leather goods sector has suffered an overall drop in sales.
List of charts presented in this market study
- Market share of leading luxury leather brands
- Leather goods sales projections
- Total billings of French leather goods manufacturers
- Foreign trade in leather goods
- Main customer markets for French leather goods manufacturers
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Latest news
Inauguration of a Hermès site in Riom, land of volcanoes - 17/09/2024
- 1. Number of Hermès leather factories in France: 23.
- 2. Frequency of new leather goods factories opened by Hermès: one per year.
- 3. Length of training for a leatherworker at Hermès: 18 months for basic training, and 5 years to master the craft.
- 4. Standard capacity of Hermès leather goods factories: 300 employees, including 260 craftsmen and 40 supervisory and support staff.
- 5. Year Hermès launched its leather goods division: 1923.
- 6. Change in contribution to Hermès sales: initially 55% from silk and 9% from leather goods; today, these percentages are largely reversed.
Chanel seeks new impetus with the departure of its artistic director - 06/06/2024
- - The Chanel group employs over 36,500 people worldwide.
- - Chanel sales 19.7 billion dollars in 2023
- - Chanel sales rose by +15.8%.
- - In the United States, Chanel sales rose by less than 3% to $3.9 billion.
- - In Asia, Chanel sales rose strongly by 17.7% to $8.4 billion.
- - Chanel's distribution network has doubled over the last five years.
Luxury: Chanel on the right track - 22/05/2024
- - Chanel 2023 annual sales: $19.7 billion (approx. €18.2 billion), an increase of 14.6%.
- - Workforce: 36,500 employees.
- - Number of Chanel boutiques worldwide: over 600.
- - Sales in Asia: $8.4 billion, up 17.7%.
- - Sales in Europe: $4.7 billion.
- - Sales in the United States: $3.9 billion, with growth of less than 3%.
- - Number of Chanel stores in mainland China: 18.
Delsey shareholders plan to sell - 30/04/2024
- - Delsey sales in 2023: over 250 million euros.
- - Increase in sales compared to 2022: 22%.
- - Operating profit in 2023: 34 million euros, more than double that of 2022.
- - Number of suitcases and bags sold in 2023: 5 million.
- - Sales target for the following year: over 300 million euros.
- - Potential share generated by licenses: up to 50% of revenues over time.
- - According to Bain & Company, growth in the luggage sector could reach double digits by 2027.
- - Sales of Samsonite, the world's leading luggage manufacturer, rose by 28% last year to $3.7 billion.
Chanel investe ancora in Italia: nuova giunteria per Gensi Group - 29/02/2024
1. **Investimento Chanel nel Calzaturificio Gensi Group**: - Inaugurazione di un nuovo reparto di giunteria di 3.000 metri quadrati nel sito produttivo di Mosciano Sant'Angelo (Teramo). - Attivazione di 4 nuove linee di produzione da 70 metri ciascuna. - Attualmente, 6 linee di produzione sono in funzione, con un piano di raddoppio nei prossimi 3 anni attraverso l'inserimento di nuove risorse professionali. 2. **Iniziative Aziendali per la Sostenibilità**: - Formazione di 3 gruppi di lavoro dedicati alla sostenibilità ambientale dell'azienda un anno fa. - Riduzione dei consumi energetici e degli scarti di lavorazione. - Avanzamenti nel riciclo e riuso. - Avvio dell'istituto interno di formazione "M'Astri Nascenti" in collaborazione con Arsutoria School, con 60 persone formate fino ad oggi. 3. **Forza Lavoro e Piani di Assunzione**: - Attualmente, l'azienda ha oltre 660 collaboratori, dei quali oltre 120 sono orlatrici. - Sono previste nuove assunzioni per aumentare ulteriormente la forza lavoro. 4. **Produzione Chanel e Supply Chain Italiana**: - Le calzature Chanel sono progettate in Francia ma prodotte in Italia. - Aziende italiane controllate da Chanel implicate nella produzione: Roveda di Parabiago (acquisita nel 1999), Gensi di Giulianova (acquisita nel 2015), e Ballin Shoes (acquisita nel 2020).
Hermès continues to raise prices - 09/02/2024
- - Hermès sales in 2023 will be 13.4 billion euros, up 16% on the previous year and 21% at constant exchange rates.
- - Net income is up 28% to 4.3 billion euros.
- - Hermès has a market value of 231 billion euros.
- - Hermès has increased its prices by 8 to 9% in 2023.
- - 22,000 Hermès employees worldwide.
- - More than 60% of new jobs created in France, where Hermès manufactures three quarters of its products.
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the leather goods market | France
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