17 June 2015

Technavio names luxury handbag brands to watch

The Coach store at Raffles City mall, Singapore.

The most successful handbag brands in the Asia Pacific market, at least to 2019, will be Burberry, Chanel, Coach, Herm├Ęs, Kate Spade, LVMH (Louis Vuitton), Michael Kors, Mulberry and Prada, says research firm Technavio, while the popular ones today include Coach, Michael Kors, LVMH, Chanel, D&G, Prada, Gucci, and Christian Dior.

Easy accessibility through specialist retail stores, increasing disposable income, and e-commerce are driving demand for handbags market in the region, Technavio says. The company also says that accessory brands will be focusing more on social media as it is popular in the region, especially in China and India. 

“The rising use of the Internet, coupled with the rising number of mobile phone users, is driving the sale of handbags,” says Faisal Ghaus, Vice President of Technavio Research. “The growing trend toward e-commerce and awareness of brands available online at steep discounts are attracting consumers."

Interested?

View research on the handbags market in the APAC 2015-2019. The handbags market in APAC is expected to grow at a CAGR of 6.5%, while sale volumes are expected to reach a CAGR of 6.2%, from 2014 to 2019.

Read the WorkSmart Asia blog post on Technavio's thoughts about handbags in India and China.