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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.
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the leather goods market | France
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