Bags and Luggage in Romania - New Market Research Report

From: Fast Market Research, Inc.
Published: Wed Mar 25 2015

Sales of bags and luggage were negatively affected in the years of the financial crisis, and the market experienced crunches both in value and volume terms in 2008 and 2009. However, in 2010, the market started to timidly recover, and to be once again on a positive trend. Bags and luggage increased by 7% in current terms to RON826 million in 2014. The positive trend was also reflected in volume growth of 2% to 8 million units. This recovery was supported by recovering consumer confidence, as women’s image consciousness.

Competitive Landscape

The bags and luggage market is fragmented. Leading player LVMH Moët Hennessy Louis Vuitton SA, which accounted for 5% of value sales in 2013, operates in a niche where brand variety is limited. The company’s value share increased slowly but steadily over the review period, in line with consumers’ willingness to buy expensive personal accessories products. The luxury segment witnessed the entrance of other major brands, including Coccinelle, Gerard Darel and Lancel. Famous brands of handbags are available, including Valentino, Gucci, Coccinelle and Furla. Romania is also a popular among luxury brand owners as a location for manufacturing facilities. Louis Vuitton, Prada and Gucci all have several production units in Romania.

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Industry Prospects

Personal accessories will remain popular, with products regarded as an affordable way to change one’s image and express one’s identity. Bags and luggage is expected to register a CAGR of 4% in constant terms over the forecast period to reach RON987 million in 2019. Volume sales are expected to increase by 2% to 9 million units over the forecast period. Improving economic conditions and changes in consumer lifestyles – with Romanian women purchasing more handbags than before – are expected to underpin growth.

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