Summary of our market study

The Italian market for "leather goods", a sector specializing in leather accessories such as bags, belts and wallets, has been growing steadily, mainly due to strong exports rather than domestic demand. Italy's estimated position as a world leader in leather production and processing underlines its significant contribution to the country's GDP, involving a large number of companies and employees. Since 2020, the sector has begun to feel the effects of changing consumer preferences towards sustainable and environmentally-friendly products, as well as the diversification of distribution channels. However, the above text does not provide specific post-2020 numerical data on market trends, company performance or consumer behavior.

The changing dynamics of the "Leather Goods" market in Italy

Looking at the Italian "leather goods" market - a specialized sector within the broader leather goods industry that focuses on leather accessories such as bags, belts and wallets - we discover a nuanced tapestry of trends and economic contributions. At the heart of this market is the material itself: leather, whose use dates back to prehistoric times and has since evolved thanks to sophisticated preservation techniques. Although a well-established market, the Italian "leather goods" sector has seen a shift in the driving forces behind its growth. Domestic demand, once a constant source of dynamism for the market, is now in decline. Exports, on the other hand, have become the new engine of growth, reinforcing Italy's position as a world leader in leather production and processing. This divergence underlines a broader trend within the Italian economy, where export-oriented industries are increasingly vital.

In terms of economic impact, the leather goods sector is far from negligible. It encompasses a vast network of companies and employs a large workforce, making a significant contribution to the country's GDP. Although the exact figures are not given in the text, we can deduce that the sector represents a significant part of Italy's economic output, employing tens of thousands of people and generating revenues ranging from a few dozen to a few hundred million euros. In the absence of precise figures, we can deduce that the scale of the industry is quite vast. The future trajectory of the market seems to be influenced by changes in consumer behavior and distribution channels. Sustainable and ecological products are gaining in popularity with consumers, signalling a potential shift towards products offering environmental benefits or ethical guarantees. In addition, the proliferation of distribution channels suggests that the market is adapting to the digital age, where online retailing and various sales platforms are becoming increasingly widespread.

In conclusion, the Italian leather goods market is at a crossroads, shaped by a complex interplay between the traditional excellence of leather craftsmanship and emerging trends that emphasize sustainability and digitalization. As exports continue to soar and domestic demand weakens, the industry's ability to adapt will be put to the test, potentially redefining the very essence of this quintessential Italian business.

Tradition meets innovation The leather goods market, deeply rooted in heritage and craftsmanship, is characterized by a diverse range of key players who have marked the industry with their commitment to quality, design excellence and innovation. At the heart of this market, particularly in countries renowned for their leather goods such as Italy, are distinguished companies that combine traditional techniques with contemporary style to create leather accessories appreciated the world over.

  • Gucci - An emblem of Italian luxury, Gucci is an iconic figure in the leather goods market. Known for its double "G" logo and fusion of classic and modern elements in design, Gucci offers an extensive collection of leather accessories that includes sumptuous handbags, belts and wallets. Gucci embodies the harmonious integration of traditional Italian craftsmanship and cutting-edge fashion trends, making it the preferred brand of consumers who seek both heritage and modernity in their leather goods.
  • Prada - Another iconic Italian brand, Prada's reputation for quality and innovation has earned it an important place in the leather accessories market. A symbol of minimalist elegance, Prada leather goods often set the tone for industry trends with their inventive use of materials, styles and colors. The company's avant-garde approach keeps it at the forefront of sought-after luxury brands, attracting a clientele that appreciates both avant-garde and timeless sophistication.
  • Louis Vuitton - Although originally from France, Louis Vuitton's influence in the leather goods sector extends worldwide, with its signature monogram canvas and impeccable leather craftsmanship. Offering a wide range of products, from iconic handbags to leather travel goods, Louis Vuitton is a bastion of luxury and is often considered the gold standard in the world of leather accessories. The brand's commitment to excellence is evident at every stitch, and it continues to be a dominant player in the sector.
  • Bottega Veneta - Known for its signature intrecciato weave, Bottega Veneta is a paragon of understated luxury and expert craftsmanship. This Italian brand offers a range of handcrafted leather goods that emphasize the quality of materials and the tactile experience. Its commitment to discretion and anti-logo sentiment appeal to consumers who appreciate subtlety and elegance, cementing Bottega Veneta's position as a distinguished player in the global leather market.
  • Fendi - With its distinctive blend of playful design and superb Italian craftsmanship, Fendi stands out for its ability to create quality products.
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Summary and extracts

1 Market summary

1.1 Definition and presentation

The "maroquinerie" market is a micro-category of the wider leather clothing market and refers to all leather accessories (e.g. bags, belts, wallets). The distinguishing mark of these fashion items is therefore the material: leather.

The use of leather has ancient origins, in prehistoric times clothing made from the skin of victims of hunting were worn. Undoubtedly in the absence of further processing, the material did not last over time, which is why techniques of drying and preservation of the material were gradually devised.

The small leather goods market in Italy continues to grow, but for years the positive evolution has not been stimulated by domestic demand, which is gradually decreasing, but by exports. Italy is one of the world leaders in the production and processing of leather, a sector that affects a considerable number of companies and employees and that consequently has a significant impact on the GDP of the country. The leather goods segment is expected to be gradually impacted by different purchasing habits (e.g. growing interest in sustainability, "environmentally friendly") and by the proliferation of distribution channels.

List of charts presented in this market study

  • Size of the leather goods market
  • Market share of leading luxury leather brands
  • Leather Goods Sector Turnover in Italy
  • Main Exporters of Leather Items
  • Average Prices per KG for Leather Goods
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Latest news

Lvmh: Belloni steps down as general manager and will be president of Lvmh Italy - 22/03/2024
  • **Toni Belloni**
    • - Period in LVMH: more than 23 years
    • - Roles: General manager and chairman of the executive committee of LVMH
    • - Next role: In charge of some strategic missions and president of LVMH Italy
  • **Stéphane Bianchi**
    • - Date of hire at LVMH: 2018
    • - New roles: He will chair the executive committee and lead the group's geographic divisions and digital and data transformation, working in close collaboration with Bernard Arnault. 3.
  • **Wei Sun Christianson**
    • - Proposed Position: Administrator on the board of directors
    • - Skills: Financial literacy, knowledge of the luxury market and China
    • - Proposed co-option date: April 18 board of directors meeting
  • **Bernard Arnault**
    • - Roles: chairman and chief executive officer of the LVMH Group
    • - Comment on Belloni: Describes him as critical to LVMH's success, citing his vision, loyalty, and participation in the group's acquisitions.
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).

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.
Gucci: a challenge for Kering - 08/01/2024
  • Gucci, Kering's flagship brand, guarantees two thirds of the group's profits.
  • Kering acquired a 30% stake in Valentino.
  • Kering also bought Creed perfumes.
  • Balenciaga, one of Kering's brands, has been in difficulty since November 2022
Chanel creates "La Parcelle", a new green and artistic space - 14/09/2023
  • Le 19M, the space dedicated to Chanel's métiers d'arts, was inaugurated in 2021.
  • Le 19M brings together 600 craftsmen and experts in eleven Maisons d'arts.
Hermès, champion of luxury growth - 29/07/2023

Hermès sales growth: 25% in the first half.

Planned openings: four new leather goods stores by 2027.

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 ITALIA S.P.A.
Hermès International
Chanel
Kering
Longchamp
Lancaster Maroquinier
CHIARUGI FIRENZE PELLETTERIA S.R.L.
Valigeria Roncato SPA
Laura Bigiotti
Nico Giani
Veneta Italiana Pelle SRL
PELLETTERIA P.A.M. - S.R.L.

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