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1 Market overview

1.1 Introduction

The handbag market encompasses many different types of products segmented into broad price ranges that cater to the needs of the masses. The most popular handbag models can be sold for astronomical amounts of money. The current world record handbag was sold for nearly $4 million. Yet, this product did find a buyer.

This shows us that the usual market segmentation into price ranges is not inalienable. Demand management is necessary to face the toughest competition.

However, for a first approach it is wise to understand the handbag market in the form of different price ranges. Among these we find in particular :

  • Luxury handbags (more elaborate and sometimes in limited edition)

  • Mid-range handbags (available in large ready-to-wear stores)

  • Entry-level handbags (low demand in some markets)

The global handbag market is growing at an annual CAGR of over 5%. The best growing segments are luxury or high-end products with a good price-quality ratio. To gain market share, luxury multinationals are now turning more to Asian countries. Indeed, the demand for these types of products is particularly developed there. This is mainly due to the emergence of a new middle class who are showing conspicuous consumption to develop a sense of belonging to the wealthy class.

In Germany, the handbag market is one of those sectors that are evolving the most. This is mainly due to societal changes (increased purchasing power, structural changes in the labor market). However, inflation is at its highest in Germany, which has had a heavy impact on the handbag market. Paradoxically, high-end bags remain popular with customers because they are more durable.

International luxury brands of the LVMH Group are present in the German market. However, other brands such as MCM (German brand specialized in the production of high-end bags) are also very popular.

For cultural reasons, the handbag market in Germany cannot be directly compared to other Western European countries. Germans place great importance on the practicality of the products they consume. The challenge for a company wishing to join this market is to find a way to offer products with an interesting price-quality ratio and a beautiful aesthetic appearance.

List of charts presented in this market study

  • Foreign trade in handbags
  • Size of the global handbag market
  • Market share distribution of the global handbag market
  • Distribution of handbag production in Europe
  • Total sales volume of handbags in Germany
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Latest news

Vinted profitable for the first time - 29/04/2024
  • - **Sales up:** 596.3 million euros last year, representing an increase of 61%.
  • - **Net income:** 17.8 million euros (against a loss of 20.4 million euros in 2022).
  • - **Workforce:** 2,000 employees. - **Year of creation:** 2008.
  • - **Number of registered members in France:** 27 million.
  • - **Market position:** Europe's third-largest textile operator, behind Zalando and Shein, and number one in the C to C second-hand market in Europe.
Shein, designated by Europe as an important hub, will have more obligations - 29/04/2024
  • - **Number of monthly Shein users in the EU**: 108 million.
  • - **Number of platforms already under the DSA**: 19, including major players such as Amazon, Google Shopping, Facebook, Instagram, TikTok, Twitter, YouTube, AliExpress, and Zalando.
Shein: the king of "ultra fast fashion" makes twice as much profit as H&M - 02/04/2024
  • Shein profits last year: $2 billion.
  • - Shein revenues: nearly $45 billion.
  • - H&M profits: $820 million.
  • - Inditex (owner of Zara) profits: $5.8 billion (€5.4 billion).
  • - Year Shein was founded: 2008.
  • - Number of employees at Shein: over 10,300.
  • - Current valuation of Shein: over $66 billion.
  • - Main markets: United States and Europe.
Zara, Bershka, Massimo Dutti, all Inditex banners to grow by 10% or more by 2023 - 14/03/2024
  • Inditex sales: up +10.4% to 35.9 billion euros.
  • Growth rates of the Inditex Group's various banners: all up by 10% or more, with Oysho showing the strongest growth (+19%).
  • Number of stores operated by Inditex at the end of fiscal year 2023: 5,692.
  • In-store sales growth: 7.9%
  • Increase in e-commerce sales: 16% to 9.1 billion euros.
Chanel investe ancora in Italia: nuova giunteria per Gensi Group - 29/02/2024

1. **Investimento Chanel nel Calzaturificio Gensi Group**: - Inaugurazione di un nuovo reparto di giunteria di 3.000 metri quadrati nel sito produttivo di Mosciano Sant'Angelo (Teramo). - Attivazione di 4 nuove linee di produzione da 70 metri ciascuna. - Attualmente, 6 linee di produzione sono in funzione, con un piano di raddoppio nei prossimi 3 anni attraverso l'inserimento di nuove risorse professionali. 2. **Iniziative Aziendali per la Sostenibilità**: - Formazione di 3 gruppi di lavoro dedicati alla sostenibilità ambientale dell'azienda un anno fa. - Riduzione dei consumi energetici e degli scarti di lavorazione. - Avanzamenti nel riciclo e riuso. - Avvio dell'istituto interno di formazione "M'Astri Nascenti" in collaborazione con Arsutoria School, con 60 persone formate fino ad oggi. 3. **Forza Lavoro e Piani di Assunzione**: - Attualmente, l'azienda ha oltre 660 collaboratori, dei quali oltre 120 sono orlatrici. - Sono previste nuove assunzioni per aumentare ulteriormente la forza lavoro. 4. **Produzione Chanel e Supply Chain Italiana**: - Le calzature Chanel sono progettate in Francia ma prodotte in Italia. - Aziende italiane controllate da Chanel implicate nella produzione: Roveda di Parabiago (acquisita nel 1999), Gensi di Giulianova (acquisita nel 2015), e Ballin Shoes (acquisita nel 2020).

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.

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. :

Shein
LVMH Groupe
Longchamp
Louis Vuitton Malletier
H&M Groupe
Chanel
Vinted
Inditex groupe (Zara)

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The handbag market | Germany

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