Content of the study:
The handbag market - France

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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, ...

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 ...

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, ...

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.

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 ...

POSITIONING THE PLAYERS

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Reviews (2)

Reviews (2)

The handbag market - France

Publicado en 23/04/2022 by Deborah Balzan - BALZAN Déborah Fleur

The study contains a lot of very interesting information.

The handbag market - France

Publicado en 04/05/2021 by Malcolm Vincent

Very complete and quantified study in particular on the new trends driven by the concern to preserve the environment, to produce ethically and to develop the second-hand market.


Businesscoot Response:

Hello Malcolm, Thank you for your feedback. We are glad that the study lived up to your expectations. We hope you will give us a 5/5 next time ;)

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