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The luxury leather goods market - Germany

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Number of pages : 30 pages
Format : Digital and PDF versions
Last update : 23/06/2023

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Summary and extracts

1 Synthèse du marché

1.1 Introduction

The luxury leather goods market includes high-quality products made of the finest leather such as handbags, belts, shoes, and purses. The luxury leather goods market is divided into different product types, but all of them are high-quality products that meet the highest consumer demands.

Globally, the market is growing at an annual rate of 4%. The main consumers of this type of luxury item are mainly Chinese and Japanese people.

The goal of luxury brands is therefore to gain the largest market share by targeting these nationalities. In order to achieve this goal, brands need to innovate to offer their customers personalized services that lead to a luxury experience.

In Germany, luxury brands have seen a steady increase in sales over the past 20 years. German consumers are typically fond of high-quality, yet durable products. However, the typical customers in this market are mainly well-off people with high purchasing power.

Many international luxury brands are present in this market in Germany, such as :

Louis Vuitton,
Gucci,
Prada,
Hermès.

The MCM brand is also successful but is struggling to catch up with its rivals. This does not prevent new players from effectively positioning themselves in the market, but they need to position themselves in a specific segment to be sustainable.

New challenges emerge in this market, which continues to grow. The declining purchasing power has led consumers to turn to counterfeit products, which are becoming more and more similar to the original models. So it's all about traceability. This can be achieved in particular through the use of blockchain technology. This technology is used for these types of products just as it is for NFTs, and new players are needed in this market segment to offer solutions to facilitate product traceability.

2 Analyse de la demande

3 Structure du marché

4 Analyse de l'offre

5 Règlementation

6 Positionnement des acteurs

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