Summary of our market study

The French handbag market is estimated at €7.6 billion

The global handbag market, valued at $73.32 billion in 2022, is expected to grow at a compound annual growth rate of 6.8% to 2030, driven by increasing purchasing power in developing countries and more working women.

The French handbag market has also seen strong growth, with an increase of 28.4% in 2022 compared to 2021, reaching an estimated value of 7.6 billion euros, largely supported by exports due to the country's reputation for leather goods.

France, Europe's second-largest producer of handbags after Italy, has significant domestic production, with a value of almost 1.656 billion euros in 2022, which has doubled in 10 years.

production volume has rebounded to pre-pandemic levels by 2022, with output of between 10 and 15 million units. France's reputation for craftsmanship in leather goods is virtually unrivalled.

The luxury leather goods segment dominates the wider leather goods market.

French luxury brands such as LVMH and Hermès play a leading role worldwide.

Despite a general downward trend in clothing budgets, with 80% of French consumers planning to reduce their spending by early 2023, the handbag sector continues to grow thanks to its reputation and the quality of its products.

Trends and dynamics in the French handbag market

In the French handbag market, despite a period of reduced spending in the apparel sector, with a significant decline in the value of the apparel market of around 15% between 2007 and 2018, the handbag segment has maintained its growth. The global apparel market has reached between 25 and 30 billion euros by 2022.

80% of French consumers are reassessing their consumption habits, and will reduce their clothing budget in 2023. This approach is largely attributed to rising inflation and the development of fast fashion and second-hand trade.

The handbag market itself is undergoing a major transformation: women, who make up the heart of the handbag clientele, are moving away from quantity to quality . The number of women owning a single handbag has risen significantly, while the number owning three or more has fallen considerably between 2014 and 2019.

The preference for fewer but better-quality handbags is a challenge for ready-to-wear brands known for selling in large quantities at lower prices.

While price remains a central factor in the purchasing decisions of the majority of French consumers, quality and environmental impact are gaining in importance and influencing product choice. Sustainable development concerns are more frequent, but still only affect 27% of consumers.

France's reputation for craftsmanship in leather goods, particularly luxury items, is virtually unrivalled, and the country is second only to Italy in handbag manufacturing.

Another feature of the market is the marked seasonality of handbag sales, which intensifies during the festive season, with quality handbags often becoming favored gifts for special occasions.

French handbag market players

In the field of fashion accessories, handbags occupy a special place as an object that is both useful and elegant.

  • 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. Chanel handbags, particularly the legendary 2.55, exude an air of chic elegance, embodying the spirit of Coco Chanel's innovative vision.
  • 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 and offers a wide range of handbags to complement its clothing lines.
  • 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
  • Projected leather sales
  • 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

Hermès continues to raise prices - 09/02/2024
  • - Hermès sales in 2023 will be 13.4 billion euros, up 16% on the previous year and 21% at constant exchange rates.
  • - Net income is up 28% to 4.3 billion euros.
  • - Hermès has a market value of 231 billion euros.
  • - Hermès has increased its prices by 8 to 9% in 2023.
  • - 22,000 Hermès employees worldwide.
  • - More than 60% of new jobs created in France, where Hermès manufactures three quarters of its products.
Jacquemus, the fashion "darling" looking to grow | Jacquemus looks to expand - 18/01/2024
  • Jacquemus was founded in 2009
  • Jacquemus brand expected to reach sales of 280 million euros in 2023
  • The brand had passed the 100 million euro mark by 2021
  • Jacquemus grew from 60 employees in 2019 to 300 in 2021
  • Sales target for 2025 is 500 million euros
  • Leather goods account for over 50% of Jacquemus sales
  • The Chiquito bag is a great success
  • The most advanced project to open a second store after the one on Avenue Montaigne in Paris is a location on New Bond Street in London, scheduled for 2023
  • In the next three years, store openings are planned in the United States and the Middle East
  • Jacquemus has also opened ephemeral boutiques in Seoul, Saint-Tropez and Courchevel.
Host and Primark: The nightmare continues for H&M, overtaken by Shein - 15/12/2023
  • H&M posted annual sales up 6% to 21 billion euros
  • Spanish brand Zara saw an 11% increase in sales for the first nine months of the year, representing 25.6 billion euros and a profit in excess of 4 billion euros.
  • British brand Primark achieved sales in excess of 23 billion euros at the end of its September trading year.
  • Chinese online retailer Shein is targeting sales of €40 billion this year, while its rival Temu is aiming for €33 billion.
  • H&M reduced the number of its stores and cut 1,500 jobs last year as part of a rescue plan.
Leboncoin: a $12 billion bid for the classified ads parent company - 22/11/2023
  • A consortium led by Blackstone and Permira has offered 141 billion crowns (12.1 billion euros) to buy Adevinta.
  • The transaction values Adevinta at €14 billion.
  • In 2021, Adevinta bought eBay's online classifieds business for $9.2 billion.
Leboncoin coveted by two investment funds - 23/09/2023
  • Leboncoin is owned by Adevinta, a Norwegian company specializing in online ads.
  • Adevinta has received a non-binding takeover offer from a consortium led by Blackstone and Permira, two investment funds.
  • Adevinta's two main shareholders are eBay, a US company, and Schibsted, a Norwegian media group, which are supporting the takeover bid.
  • In 2021, Adevinta bought eBay's online classifieds business for $9.2 billion.
  • Adevinta was worth almost 93 billion kroner (8.1 billion euros) at the close of trading on the Oslo Stock Exchange on Thursday.
Five things you need to know about Inditex, the owner of Zara stores - 17/09/2023
  • Founded sixty years ago, the group is now the third-largest in the sector in terms of value (after Dior and Nike),
  • Present in 94 countries by the end of 2022, with over 160,000 employees
  • Inditex flagship Zara. The brand operates 1,878 points of sale by the end of April 2023.
  • In France, the brand has 113 stores.
  • Since 2020, the Inditex group has been closing less profitable stores.
  • In the United States, the brand is on a roll: a total of 35 stores are scheduled to open in 2023, making it the second-largest market after Spain.
  • Zara and Inditex have played a major role in the creation of the "fast fashion" concept.
  • Today, the group comprises seven brands: Zara (clothing and home furnishings with Zara Home), Pull & Bear, Bershka, Stradivarius, Oysho (underwear, swimwear and sportswear) and Massimo Dutti in the high-end segment.
  • The total number of stores is 5,800.
  • In 2020, with the Covid pandemic, online sales soared by 77% for the group as a whole, representing a third of the total.
  • Most garments are produced in Spain, Portugal, Morocco or Turkey, while competitors continue to produce largely in Asia.

Companies quoted in this study

This study contains a complete overview of the companies in the market, with the latest figures and news for each company. :

LVMH Groupe
Lancel (Piquadro)
Le Tanneur
Vanessa Bruno
Parfois - Modessa france
Longchamp
Michael Kors
Lancaster Maroquinier
Lacoste Groupe
Vinted
Anakiara
Louis Vuitton Malletier

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