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- Number of pages : 30 pages
- Format : Digital and PDF versions
- Last update : 30/03/2023
Summary and extracts
1 Market overview
1.1 Definition and presentation
Leather goods are garments made from leather. These include handbags, gloves, belts and other leather goods. Indispensable fashion accessories, leather goods have been at the heart of a consumer surge in recent years.
The global market is growing fast, particularly in Asia, which represents a high-potential growth driver. However, the United States is still the world's leading market, followed by China and Japan, with European countries a distant second. The luxury leather goods market is relatively concentrated. The top six companies in the sector (LVMH, Kering, Tapestry, Michael Kors, Prada and Hermès International) control around two-thirds. Sales are more fragmented if we look at the market as a whole, with a multitude of smaller companies present in most countries.
In Spain, the leather goods market fell by around 10.49% in 2020, after growing by 2.18% the previous year. The covid-19 crisis considerably hampered sales, due to the sanitary closure of stores, particularly strong from March to May 2020. However, employment was maintained, with the number of employees almost stable compared with the previous year. Sales of leather goods have picked up in 2021 with the easing of restrictions. The outlook for 2022 is promising, with a recovery in consumption and the return of tourists to the peninsula.
1.2 Global market
The global leather goods market could double within the decade. Sales in this industry are expected to grow annually by +*.*%, from US$*** billion in **** to US$*** billion in ****.
sales trends in the leather goods market World, ****-****, US$ billion Source: ****
The increase in affluent customers and the trend towards branded and ...
1.3 Domestic market
In ****, the Spanish leather goods sector generated almost *** million euros. This figure fell in **** due to the health crisis. These are INE data, gathered under CNAE code ****: "Fabricación de artículos de marroquinería, viaje y de guarnicionería y talabartería".
sales trends in the leather goods market Spain, ...
1.4 International trade
In ****, **% of leather goods production in Spain was destined for export, for a total of *** million euros. France is by far the biggest buyer, with *** million euros worth of products, i.e. **% of the total. The main trading partners are in Europe, followed by Asia.
Destination of leather goods exports by ...
1.5 Covid-19
The pandemic had a devastating impact on the leather goods sector. The most significant phenomenon was a drop in consumption, as the population focused its purchases on essential goods. In Spain, the leather goods sector is essentially artisanal, which made the transition to online sales more complex. The crisis has therefore ...
2 Demand analysis
2.1 Quality and aesthetics
Leather goods most often refer to handcrafted, high-end products. For this type of product, the primary determinant is value for money, cited by **% of consumers, followed by product quality for **% of those surveyed.
Main purchasing factors for high-end craft customers Spain, ****, % of total Source: ****
In addition, the new consumer is increasingly ...
2.2 Durability and second-hand
Consumers are increasingly aware of the fashion industry's impact on the environment. In ****, an international study found that **% of people had already given up the use of animal leather.
Consumer perception of the leather industry Worldwide, ****, % Source: ****
However, the purchase of leather is resisting. One of the arguments put forward is ...
3 Market structure
3.1 An international industry dominated by majors
In the luxury leather goods industry (***). The world's two biggest brands are French, accounting for over a third of total luxury leather goods sales.
Market share of leading luxury leather goods brands World, ****, in Source: ****
Only one Spanish brand appears in the ranking of the ** international luxury brands: Loewe, owned by ...
3.2 Expertise that appeals to international brands
Spain is internationally renowned for its leather craftsmanship. While major fashion brands relocated their production to Asia in the early ****s, more and more of them are now relocating to Europe. Spain, and Andalusia in particular, is the preferred destination.
Quality and respect for tradition are guaranteed by the"Zonas de ...
4 Offer analysis
4.1 Product typology
The Spanish leather industry is oriented towards high-end and mid-range products, which account for almost **% of the total. Luxury products are less well represented, with the notable exception of Loewe.
Breakdown of leather goods by quality Spain, ****, % (***) Source: ****
In terms of items produced, bags largely dominate production lines, accounting for **% of ...
4.2 Average prices
Prices vary from * to ** depending on whether the products are mid-range or luxury.
Products Price Luxury goods prices Belts ** € *** € Handbags ** € ***€-****€ Luggage ** € **** € Backpacks ** € **** € Travel bags ** € **** € work items ** € **** € Portfolios ** € *** €
5 Regulations
5.1 Regulations
The textile and clothing sector is regulated by EU Regulation ****/****, which lays down rules on:
Textile fiber denominations, textile product labeling methods, as well as indications on labels, markings and documents accompanying textile products during the various production, processing and distribution cycles; Determining the fibrous composition of textile products by quantitative ...
6 Positioning the players
6.1 Player segmentation
- Louis Vuitton Malletier
- Kering
- Prada Groupe
- Vinted
- Vestiaire Collective
- Loewe
List of charts
- Sales trends in the leather goods market
- Sales trends in the leather goods market
- Destination of leather goods exports by country
- Breakdown of exports by product type
- Origin of leather goods imports by country
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Latest news
Fashion: how Prada reinvents itself - 13/01/2024
- Prada was founded in 1913 by brothers Mario and Martino Prada.
- By 2023, Prada's retail sales have increased by 13% compared to 2022.
- The luxury goods market is expected to see around 40% of its global sales absorbed by China by 2030, according to Bain & Company.
- Prada created its own foundation in 1995, which is located in Milan.
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
Louis Vuitton, the luxury house that makes the Auvergne countryside shine - 07/09/2023
- Saint-Pourçain-sur-Sioule has a population of 5,200.
- The Louis Vuitton workshop in Saint-Pourçain-sur-Sioule employs almost 900 people.
- Louis Vuitton has two rolling luggage production sites, one in Marsaz in the Drôme and the other in Saint-Pourçain-sur-Sioule.
- Louis Vuitton's first workshop in Saint-Pourçain-sur-Sioule was set up in 1990, the second in 1995, and the third in 2020.
- The leather goods group has around twenty workshops in France, mostly located in rural areas.
Start-ups bet (again) on second-hand goods - 26/03/2023
- Vestiaire Collective, valued at over €1 billion
- 23 million users in France for Vinted
- - 500,000 euros in sales by 2022 for Collection 40
- - 1.1 million euros in fund-raising planned for Omaj
- - 1.8 million euros in funds raised the previous year for Mökki (30 sites planned by the end of the year)
- - Expected annual market growth: 15-20%
- - Estimated market value: several tens of billions
Prada, Milanese realism that keeps pace with the luxury giants - 13/03/2023
- Sales up 25% to €4.2 billion
- Above-market growth
- The Italian brand saw its profits soar by 58% last year, to €465 million - strong sales growth in Europe and the United States more than offsetting a slowdown in China
Vinted: 15 years on - 09/03/2023
- Founded in late 2008 in Lithuania
- More than 65 million users in 16 countries
- Over 19 million users in France
- 57% of users are between 18 and 34 years old
- More than half of users are women
- Sales of 245 million euros in 2021 (60% growth over 2020)
- Over $560 million raised since launch
- Losses of 118 million euros in 2021
- 7.6 million downloads in the UK by 2022
- Over 200,000 drop-off points in Europe for Vinted Go
- 200 drop-off and pick-up points in the Paris region by summer 2022
- Target of 2,000 lockers in the Paris region by the end of 2023
- Launched in the United States and Germany in 2010
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the leather goods market | Spain
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