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Summary of our market study
French handbag market estimated at €7.6 billion
The global handbag market, valued at $75 billion, is expected to grow at an annual rate of 7%.
The French handbag market is expected to grow by 28% in 2022 compared with 2021, and is largely supported by exports.
France, Europe's second-largest producer of handbags after Italy, has a national output of nearly 1.8 billion euros, which has doubled in 10 years.
Production is between 10 and 15 million units. France's reputation for craftsmanship in leather goods is unrivalled.
The luxury leather goods segment dominates the broader leather goods market. In the French handbag market, despite a period of reduced spending in the apparel sector (down around 15% between 2007 and 2018), the handbag segment has maintained its growth.
80% of French consumers are reassessing their consumption habits, and will reduce their clothing budget by 2023.
Women are the core customers for handbags. The number of women owning a single handbag has increased significantly, while the number of those owning three or more has fallen considerably.
Sustainable development concerns are more frequent, but still only affect 27% of consumers.
Players in the French handbag market
- Longchamp is the symbol of French handbag craftsmanship and is known for the iconic Le Pliage, Longchamp line.
- Lancel is another pillar of the French handbag industry, with a history spanning more than a century.
- Louis Vuitton, a name that resonates with luxury, is at the forefront of defining the contours of high-end fashion accessories with instantly recognizable design elements such as the LV monogram.
- Chanel, another icon of the luxury landscape, occupies a venerable position thanks to its classic and avant-garde creations.
- Zara, with its fast fashion approach, appeals to consumers looking for contemporary trends at affordable prices.
- H&M, like Zara, operates in the fast fashion sector
- Guess, known for its youthful, bold aesthetic, bridges the gap between mass retail and luxury.
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Summary and extracts
1 Market overview
1.1 Market definition and presentation
A handbag is a fashion accessory for storing everyday items (wallet, keys, etc.) that can be carried by hand or slung over the shoulder. It is a mass-market product, designed primarily for women, although the men's handbag segment is growing rapidly.The market is made up of a variety of products, distinguished by :
- Range and brand: luxury, high-end, mid-range, entry-level.
- Shape and size: tote, clutch, shoulder bag, bucket bag, etc.
- Material: leather, synthetic, textile, recycled, etc.
The global handbag market was estimated at $73 .32 billion in 2022, and is expected to grow at a CAGR (combined annual growth rate) of 6.8% to 2030. The strong growth of this sector is mainly due to the increase in purchasing power in developing countries such as India, and the growing number of women entering the job market, who demand handbags that meet the demands of professional life.
France is Europe's second-largest producer of handbags, after Italy, which alone accounts for almost 63% of European production. The domestic market is growing rapidly, with its value set to increase by 28.4% in 2022 compared to 2021. Export dynamism and the positive image of French leather goods are the main factors behind this growth. The market is therefore particularly dependent on foreign customers.In addition, new growth drivers are emerging, in particular the digitalization of the sector, the development of the second-hand market, and the growing attention paid by consumers to the eco-responsibility of the products they buy.
Leading French specialist players include Longchamp, Lancaster, Le Tanneur and La Bagagerie. these are complemented by specialized foreign players, notably Italians such as Gucci and Tuscany Leather. Ready-to-wear, accessories and shoe brands also often offer handbags by hand. From specialized multi-brand retailers to Internet sites, the sector boasts a large number of players, although there has been a trend towards concentration over the last few years.
1.2 France, a major international player
The global handbag market was estimated at $**.** billion in ****, and is expected to grow at a CAGR of *.*% to ****.
Global handbag market size projections World, **** - ****, in $ billions Source: ****
Growth in the global market is driven in particular by increasing purchasing power in developing countries. At the same time, more and ...
1.3 A fast-growing national market
Sales are calculated using the following formula: value of exports + value of production sold - value of imports. The data used will be detailed in sections *.*, on international trade, and *.*, on handbag production.
In ****, the French handbag market was estimated at *.* billion euros, an increase of around **.*% on ****. The national market ...
1.4 International trade
In order to find out France's international trade figures in the handbag sector, we'll need the following sector identification codes. In the Eurostat Prodcom database, trade in handbags is recorded under the code :
********: Handbags of leather, composition leather, patent leather, plastics, textiles or other materials (***)
In the French Customs database, ...
2 Demand analysis
2.1 Lower spending in the apparel sector
Today, handbags are still predominantly popular with women, who are their main customers. Although more and more handbag models for men are being developed every year with the emergence of "genderless" fashion[***], the popularity of these items is struggling to get off the red carpets and out of the fashion world. ...
2.2 Demand drivers: national image and sales seasonality
A favorable national reputation:
French products enjoy a positive image at home, of course, but also abroad. The country is renowned for its expertise in the production of leather goods, particularly luxury goods.
The international survey illustrated below shows how respondents of different nationalities perceive French handbag manufacture. France is in ...
2.3 Demand trends: second-hand and eco-responsibility
Second-hand:
The global second-hand fashion market has an estimated value of $*** billion in ****. According to forecasts, this market is set to grow significantly over the next five years, with a projected value of $*** billion by ****, almost double its current value[***]. The French second-hand fashion industry has seen notable growth, rising from ...
2.4 France's favorite brands
To find out what the French think of the sector's biggest brands, we're going to use an Opinionway survey on the brands preferred by the French. conducted in March **** with a representative sample of *,*** French Internet users aged ** and over.
Rate of appreciation of major handbag brands France, ****, in Source: ****
Ready-to-wear ...
3 Market structure
3.1 Handbag production
Source: ****
Most handbags sold in France are made by ready-to-wear brands, often foreign, who manufacture their bags abroad at much lower costs than those available in France. The handbags are then sold in their stores among their many other articles, or online via their websites.
However, some players continue to produce ...
3.2 Domestic production on the rise
In ****, French handbag production reached almost *.*** billion euros. The value of production has moreover doubled in ** years, testifying to the strong dynamism of French handbag manufacturing. Although production fell back slightly in ****, this was due to the health crisis.
French handbag production value France, ****-****, € billion Source: ****
French production volume has ...
3.3 The main players in the industry
In the handbag market:
The brands with the highest penetration rates are ready-to-wear brands such as H&M and Zara, as well as Longchamp and Lancaster. According to a Kantar study, these are the brands that attract the most consumers, followed by Guess, Le Tanneur and Lancel.
Ranking of handbag brands ...
3.4 A fragmented market that is gradually becoming more concentrated
In France, the handbag market is highly fragmented, with many different players. As we explained earlier, backpack manufacturers can be leather goods specialists, companies making bags of all kinds, including handbags, or ready-to-wear brands such as Zara or H&M. URSSAF lists the players in the handbag sector within the travel ...
3.5 Handbag distribution
Handbags are sold through several distribution channels, the main ones being :
stores specializing in the sale of handbags ; clothing and accessories stores (***) ; department stores (***); food superstores; the Internet (***).
Specialized stores are often manufacturers specializing in leather goods, who mainly offer handbags for sale, but also wallets and travel items. Some brands, ...
4 Offer analysis
4.1 Extremely diversified products
The handbag market can be divided into several segments, depending on the range, model or material used.
The different product ranges are as follows:
Luxury handbags: these are handbags made from high-quality materials (***) and using advanced processes. Luxury handbags range from €*** to several thousand euros. The world's most expensive handbag, for ...
4.2 Handbag prices
As mentioned in the previous section, handbag prices vary according to many factors, including brand, product type and material. However, the graph below highlights a general rise in prices for travel goods and other goods for carrying personal belongings, which include handbags.
In ** years, between **** and ****, prices in this product category ...
4.3 Model examples
The table below provides a sample of the models that have marked the history of the market.
5 Regulations
5. Regulatory framework
In-store sales:
In-store sales are subject to certain rules summarized by Legalplace:
safety and accessibility standards[***] ; compulsory displays for employees; indication of prices inside and outside the store in euros and including VAT; compulsory contribution to SACEM if music is played on the premises.
Clothing labels:
Clothing labels must include :
Composition ...
6 Positioning the players
6. Segmentation
- LVMH Groupe
- Lancel (Piquadro)
- Le Tanneur
- Vanessa Bruno
- Parfois - Modessa france
- Longchamp
- Michael Kors
- Lancaster Maroquinier
- Lacoste Groupe
- Vinted
- Anakiara
- Louis Vuitton Malletier
- Polène
- Couleur Sedona
- Goyard (Algo Groupe)
- Heimat Atlantica
- Léo et Violette
- Mansur Gavriel
- Nat & Nin
- PÖ&ME
- Shrimps
- Sonia Rykiel
- Staud
- Tammy & Benjamin
- Valencroix
- Yuzefi
- Zoatl
- Cabaia Valtex
- Hermès International
- H&M Groupe
- Leboncoin (Adevinta Group)
- Vestiaire Collective
- Guess
- Inditex groupe (Zara)
- Jacquemus
- Camille Fournet Maroquinerie
List of charts presented in this market study
- Market share of leading luxury leather brands
- Leather goods sales projections
- Projected size of the global handbag market
- Ranking of European handbag manufacturers by volume
- Size of the French handbag market
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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.
Zara successfully moves upmarket in the face of ultra-fast fashion - 13/09/2024
- - Inditex owns brands such as Pull and Bear, Massimo Dutti, Bershka and Zara.
- - Zara focuses on moving upmarket rather than competing with ultra-fast fashion.
- - Zara has over 1,800 stores worldwide.
Zara's recipe for remaining the world's leading ready-to-wear brand - 10/07/2024
- - Head office: Arteixo, ten kilometers from La Coruña, Spain.
- - Sales: nearly 36 billion euros last year.
- - Share of capital held by Amancio Ortega: 59%.
- - Proportion of production carried out close to main markets: 50% (in countries such as Spain, Portugal, Morocco and Turkey).
- - Worldwide store replenishment frequency: twice a week.
In the face of Vinted, Leboncoin holds its own: a look at the figures - 24/06/2024
- Leboncoin is the 2nd most visited e-commerce site in France, behind Amazon.
- - 26.8 million unique visitors per month in France in the first quarter of 2024.
- - Leboncoin aims to become a European Amazon for second-hand goods
- - Leboncoin buyers: mostly men over 45, with an average of 7.5 purchases per year for a total of €381.
- - Women make 2.8 purchases a year for a total of €110.
- - 20% increase in Leboncoin sales by 2023, surpassing Amazon (+16%) but less than Vinted (+32%).
- - Average shopping basket on Leboncoin: €46, higher than Amazon (€34) and Vinted (€19).
- -Leboncoin customers buy 4.4 times a year, compared with 9.4 times for Vinted.
- - Leboncoin has a 4% market share among a panel of 700,000 people, despite Vinted's sales growth of 61% from 2022 to 2023.
Vinted profitable for the first time - 29/04/2024
- - **Sales up:** 596.3 million euros last year, representing an increase of 61%.
- - **Net income:** 17.8 million euros (against a loss of 20.4 million euros in 2022).
- - **Workforce:** 2,000 employees. - **Year of creation:** 2008.
- - **Number of registered members in France:** 27 million.
- - **Market position:** Europe's third-largest textile operator, behind Zalando and Shein, and number one in the C to C second-hand market in Europe.
Zara, Bershka, Massimo Dutti, all Inditex banners to grow by 10% or more by 2023 - 14/03/2024
- Inditex sales: up +10.4% to 35.9 billion euros.
- Growth rates of the Inditex Group's various banners: all up by 10% or more, with Oysho showing the strongest growth (+19%).
- Number of stores operated by Inditex by the end of fiscal year 2023: 5,692.
- In-store sales growth: 7.9%
- Increase in e-commerce sales: 16% to 9.1 billion euros.
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the handbag market | France
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