New market study, "Bags and Luggage in the US", has been published

From: Fast Market Research, Inc.
Published: Mon Oct 12 2015


Overall value sales of bags and luggage grew by 7% in current value terms in 2015, to reach US$30.1 billion. Handbags continued to hold the largest share in bags and luggage in the US, holding 36% of value sales in 2015. Handbags remained necessary accessories to update personal appearance, especially among fashion-savvy consumers. Within handbags, shoulder and tote bags were the most popular and highest-grossing type of handbags, accounting for 69% of handbags value sales in 2015. As people carry many items around, shoulder and tote bags that are lightweight, durable and practical for everyday use have been well received by consumers.

Competitive Landscape

Full Report Details at
- http://www.fastmr.com/prod/1058085_bags_luggage_us.aspx?afid=301

Michael Kors Holdings Ltd is a rapidly-growing luxury brand and continued to see the strongest performance in the US bags and luggage market in 2014. The company grew its value sales by 30% in 2014, giving it an 11% share of the US bags and luggage market. Continuous double-digit growth over the recent review period helped the company outperform its major competitor, Coach Inc, and claim the number one position in the US bags and luggage market in 2014. Retail is the key factor of Michael Kors brandís growth strategy, as it expanded its store count aggressively over the review period. Furthermore, the company focused on internet retailing and brought e-commerce technology in-house in 2014. The launch of its own e-commerce website will help drive further revenue growth through internet retailing. The company plans to continue expanding retail stores in the US, both direct retail stores as well as shop-in-shop stores within major department stores to reinforce its brand image and capture more sales over the forecast period.

Industry Prospects

Despite a poor first quarter in 2015, the outlook for the US economy in the short to medium term is expected to be positive. Improvement in the labour market will support overall consumer spending. Value sales of bags and luggage are expected to post a CAGR of 4% at constant 2015 prices over the forecast period. Handbags will remain the largest and fastest growing subcategory in bags and luggage, and sales are expected to post a CAGR of 5% at constant 2015 prices over the forecast period.

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