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Synthèse
from 2020 onwards, the global luxury leather goods market has experienced significant growth. However, trends indicate that the market remains highly concentrated, with leading players such as LVMH, Hermès International and Kering dominating a considerable majority of market share. The industry continues to be propelled by factors such as growing demand from affluent upper-middle-class consumers, particularly in China, and the increasing influence of digital technology and online sales, which have seen a marked rise. In addition, the second-hand market for luxury goods has grown, attracting consumers interested in durability and lower prices. French luxury leather goods, in particular, benefit from the "Made in France" label, synonymous with quality and craftsmanship.
Despite a dynamic market, challenges such as the impact of veganism and the need for ethical and sustainable production practices are emerging trends that are influencing the direction of the industry: changing consumer habits in France's dynamic luxury leather goods market The French luxury leather goods market has enjoyed an impressive growth trajectory, reflecting global trends and supported by increasingly demanding consumer segments.
The French Luxury Leather Goods Market: Trends, Tourism and Sustainability
Women represent the dominant force in demand, accounting for between 90% and 95% of the market for luxury bags and small leather goods. This trend has remained constant, with the proportion of sales to women remaining unchanged at around 92% over a five-year period, despite the explosion in total sales from around €2,465 million to almost €4,000 million.
This robust market is also characterized by its appeal to a diverse range of consumers, including a considerable influx of tourists. France, with a record number of tourist arrivals exceeding 90 million, benefits significantly from Chinese visitors gravitating towards duty-free luxury goods, particularly during key periods such as Golden Week. The contribution of Chinese tourists to the French luxury market has been meteoric, with increased spending and the realization of around 35% of the value of luxury purchases worldwide. Their influence is matched only by that of the burgeoning cohort of millennials, who already hold around 35% of the luxury market, with forecasts suggesting their share could reach 45% by 2025.
Sustainability has become a key demand factor in the French market, with around two-thirds of French consumers acknowledging the influence of ecological considerations on their purchasing decisions. Age plays a key role in determining which aspects of sustainability are prioritized, with an emphasis on transparency of materials, ethical production practices, ecological impact and animal welfare across different consumer age brackets. This is exemplified by the vegan leather movement, an ethical and environmentally-friendly alternative that challenges traditional notions of the leather industry and invites innovation from luxury and vegan brands alike. Meanwhile, the "Fabriqué en France" label enjoys a commendable reputation, synonymous with heritage and craftsmanship.
The country is highly regarded for its expertise in luxury goods, and around 20% of global consumers consider France to be the leading manufacturer of high-end handbags and shoes. This esteem propels the French market to the forefront of global luxury goods production, an image that is continually reinforced by the market's inclination towards quality, innovation and respect for the environment. In essence, the French luxury leather goods market is not only thriving numerically, with sales set to increase by around one billion euros in the years ahead, but is also evolving.es to come, but it is also evolving qualitatively, with growing demands for sustainability, provenance and social responsibility.
Notable giants of the luxury leather goods industry
In the refined and illustrious world of luxury leather goods, several iconic players have forged an unshakeable reputation for offering unrivalled quality, style and sophistication through their exceptional products. These major players don't just dominate the market, they shape it through their innovative designs, marketing strategies and investment in craftsmanship.
- LVMH (Moët Hennessy Louis Vuitton) stands at the pinnacle of luxury, not only holding a dominant market share, but boasting a portfolio of more than a dozen famous brands, including the illustrious Louis Vuitton. With Louis Vuitton alone accounting for 30.5% of luxury leather goods sales in France in 2018, LVMH has firmly established itself as a heavyweight in the luxury sector. The conglomerate's strategy of promoting heritage and craftsmanship, coupled with aggressive expansion, has enabled it to capture the hearts of luxury consumers worldwide.
- Hermès International has forged a legacy of meticulous attention to detail and a commitment to preserving and nurturing artisanal techniques. A name that instantly evokes prestige, Hermès is renowned for its exquisite craftsmanship and the iconic status of its bags such as the Kelly and Birkin, which are not just accessories but considered investments in their own right, sometimes fetching extraordinary prices in auction houses.
- Kering is another major group in the luxury goods landscape, with flagship brands such as Gucci and Saint Laurent enriching its portfolio. Kering's modern approach to luxury branding, combined with a focus on sustainability and digital innovation, is helping it to resonate with younger, more socially conscious consumers.
- The Chanel brand no longer needs to be presented as a purveyor of haute couture. With its 2.55 handbag, a timeless piece that symbolizes the marriage of luxury and function, Chanel continues to be an emblem of sophistication across generations. The brand's commitment to exclusivity and high-quality craftsmanship adds further appeal to its already esteemed collection.
- Prada has stood the test of time, with products that reflect avant-garde aesthetics combined with practical elegance. Prada's stories and creations often push boundaries, making the brand a must-have for those seeking a blend of contemporary style and classic luxury.
- Among these luxury houses, there are also skilled subcontractors like Thomas Leather Goods, who may not be household names but are an integral part of the industry. They bring their technical expertise and know-how to the big brands, enriching the luxury leather goods sector.
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Informations
- Nombre de pages : 30 pages
- Format : Version digitale et PDF
- Dernière mise à jour : 03/11/2021
Sommaire et extraits
1 Market overview
1.1 Presentation
Leather goods refers to the industry of preparing fine leather and producing articles with this same leather, whether they are bags, gloves, belts, or other fashion items. While it is easy to name some of the houses that belong to the world of luxury, it is much less easy to draw a clear line between leather goods as a whole and the so-called luxury leather goods.
According to a a report from the National Leather Council, the leather goods sector as a whole generated a turnover of 3.236 billion Euros in France in 2017, for a sector that includes 448 companies and employs nearly 21,000 people in France.
Moreover, according to Mazars,"made in France" would be particularly sought after in a global luxury leather goods market that grew by 70% between 2003 and 2012.
The luxury leather goods market remains dominated by the main luxury brands, leaving little room for new entrants. The numerous takeovers testify to the growing concentration of the market.
The main source of growth in the market remains China and its upper-middle class with strong purchasing power.
1.2 A growing global market and optimistic professionals
Breakdown of luxury revenues by segment World, ****, % Source: ****
The global luxury market has grown in recent years to reach $**** billion in ****. **% of revenues are for the luxury personal goods segment, which includes luxury leather goods.
Breakdown of luxury personal goods revenue by segment World, ****, % Source: ****
The Luxury Leather Goods segment represents ...
1.3 A fast growing French market
In line with the good figures worldwide, luxury leather goods are doing very well in France.
Evolution of luxury leather goods sales France, ****-*****, million euros Source: ****
Luxury leather goods recorded a strong increase between **** and ****. According to Euromonitor forecasts, this trend is expected to continue: between **** and ****, Euromonitor considers that ...
2 Analysis of the demand
2.1 A demand primarily from women
Distribution of sales of luxury leather bags and small leather goods by gender France, ****, % Source: ****
The demand for luxury leather goods in France is mostly female. Sales of luxury leather bags and small leather goods are mainly aimed at women. The latter accounted for **% of sales in **** and still accounts for ...
2.2 The different consumers
Tourists, especially from China
Luxury leather goods have been able to benefit from an increase in local and especially international purchases. Indeed, France has set new records in terms of tourist arrivals, with over ** million foreign visitors in **** and ****. Among them are Chinese tourists, who now play a key role in ...
2.3 Sustainability criteria: the emergence of veganism
According to a BCG survey, **% of the French consider that their purchasing behavior is influenced by sustainable development criteria. This trend is even stronger among the younger generations. However, the criteria vary according to the age category as illustrated below.
Which sustainability criteria do you value when it comes to buying ...
2.4 The Made-in France label
Made-in-France is a guarantee of quality: consumers associate it with know-how and history.
Which manufacturing country do you consider the best for luxury brands? World, ****, % Source: ****
According to a survey conducted by BCG, France ranks second in terms of recognition of its know-how. Although Italy is considered the best manufacturing country ...
3 Market structure
3.1 At the base of the value chain: the activities around the raw material
Suppliers of raw hides and skins
Companies operating in the leather and raw hide sector are often directly integrated into the slaughterhouses. Their activity depends largely on the economic situation of the agricultural world (***) as well as on the evolution of the national and international leather market.
Evolution of the turnover ...
3.2 French leather goods production concentrated in Ile-de-France and Auvergne-Rhône-Alpes
In this section, we broaden the scope of the study, and focus not only on luxury leather goods, but leather goods in general and more specifically items manufactured in France (***). The turnover of the French Leather Goods industry amounts to *.* billion euros, up *% from last year in ****. [***] This trend is explained ...
3.3 A concentrated market
Breakdown of the luxury leather goods market share France, ****, % Source: ****
The French market is highly concentrated: indeed, * groups gather **% of the market share. These are LVMH SA, Hermès International SCA and Kering SA. LVMH SA is the leader in this market, with **% of sales, far ahead of Kering SA (***).
While ...
3.4 The distribution of leather goods is marked by the rise of digital technology
Evolution of the distribution of luxury leather goods sales by type of distribution France, ****-****, % Source: ****
It can be seen that the majority of sales are made in stores. Online sales are in the minority, but the share of luxury leather goods sales made online has been growing steadily in recent ...
4 Analysis of the offer
4.1 Price range & auction
Pricing of leather luxury products
Source: ****
Although it is difficult to define a clear boundary between what is luxury and what is not, one great characteristic that is unique to luxury items is that they have no upper price limit. Thus, if we can arbitrarily consider that a luxury handbag starts ...
4.2 Production concentrated on a small number of products
In this section, we broaden the scope of the study, and focus not only on luxury leather goods, but leather goods in general and more specifically on items manufactured in France (***). Billing for leather goods manufactured in France by an establishment or one of its subcontractors amounted to approximately €*.* billion in ...
4.3 The growing importance of the second-hand market
The second-hand market is steadily increasing. Luxury brands of bags and luggage are particularly popular via these channels, with bags accounting for **% of the second-hand market in France and small leather goods accounting for **% of luxury second-hand purchases.
Multiple web platforms promote second-hand items, as illustrated in the chart below:
Platforms ...
4.4 The threat of counterfeiting
European luxury manufacturers lose nearly ** billion euros a year to counterfeiting. [***] This is not only a loss of revenue, but also a loss of direct jobs: legitimate manufacturers need less manpower and as a result, nearly ***,*** jobs are considered directly lost in these sectors across the EU. Specifically, the luxury clothing, ...
5 Regulation
5.1 Regulations
The "leather" denomination
The term leather is protected by French regulations (***), chips or powders of reconstituted leather and even materials derived from bio-manufactured hides can not bear the name leather. The indications "synthetic leather", "reconstituted leather" or "leather of ..." are therefore not legal and have no right to be affixed to ...
6 Positioning of the actors
6.1 Segmentation
- Hermès International
- Prada Groupe
- Chanel
- Michael Kors
- Maroquinerie Auguste Thomas
- Les ateliers d’Armançon
- Les Ateliers de Vitré
- Maroquinerie Pierre Cotte
- Lancel (Piquadro)
- Lancaster Maroquinier
- Farfetch
- Rioland Groupe
- Kering
- Moynat Paris
- Montblanc (Richemont Groupe)
- Jean Rousseau Manufacture
- Fleurus Groupe
- Coach (Tapestry Capri)
- Piquadro
- Partson Groupe
- Jacquemus
- Gucci
- Cartier (Richemont groupe)
- Louis Vuitton Malletier
- Camille Fournet Maroquinerie
- Algo Goyard Maroquinerie
- Goyard (Algo Groupe)
- SIS Maroquinerie Groupe
- Perrin Créations Maroquinier
Liste des graphiques
- Répartition des revenus des biens personnels de luxe par segment
- Evolution des ventes de produits de maroquinerie de luxe
- Top 10 des pays en termes de ventes de maroquinerie de luxe
- Evolution du volume de ventes de produits de maroquinerie de luxe
- Volumes de ventes de maroquinerie de luxe par pays
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Dernières actualités
Michael Kors, Coach : l'antitrust bloque la création d'un nouveau géant américain du luxe accessible - 23/04/2024
- Les deux groupes américains, une fois fusionnés, auraient pesé **12 milliards de dollars** avec **2 milliards de revenus nets**.
- Nombre total d'employés dans le monde après la fusion : **33.000**.
- Part de marché des griffes Coach et Michael Kors dans la maroquinerie aux États-Unis : **53 %**.
- Les marques de Tapestry et Capri Holdings sont positionnées sur le « luxe aspirationnel », avec des modèles commercialisés à partir de **150 dollars**.
- Part de marché que représenteraient Coach et Michael Kors ensemble dans toute la maroquinerie en Amérique : **17 %**, et **26 %** dans la maroquinerie de luxe aux États-Unis.
Le maroquinier Créations Perrin pousse les murs dans le Doubs - 15/03/2024
- Les sous-traitants de la maroquinerie de luxe font face à une demande grandissante .
- En Bourgogne-Franche-Comté, la filière emploie 3.500 salariés dans 44 entreprises.
- Hermès dispose de trois ateliers dans le Pays de Montbéliard
- Créations Perrin fabricant de bracelets de montre et de gainerie
- Croissance de plus de 20 % par an depuis 2020.
- 210 salariés dans quatre ateliers - trois en France et un en Suisse
SIS prévoit 300 embauches pour sa nouvelle usine d'Epinal - 14/03/2024
- Le groupe SIS est spécialiste de la maroquinerie de luxe.
- - Il a 1800 salariés.
- - Il ouvre une nouvelle manufacture à Chantraine (Vosges) qui devrait embaucher, à terme, environ 300 personnes.
- - Le groupe SIS a été créé en 1998 et a un chiffre d'affaires de 72,6 millions d'euros en 2022.
- - Il compte quatre usines en France (trois dans le Doubs et une à Vesoul) et deux à l'étranger (Madagascar et Chine).
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).
Largement dans le vert malgré des ventes en baisse en 2023, Kering poursuit ses investissements - 19/02/2024
- Le marché du luxe a atteint de nouveaux records en 2023.
- Le chiffre d'affaires de Kering a baissé de 4% passant de 20,35 milliards d'euros en 2022 à 19,57 milliards d'euros en 2023.
- Le résultat net de Kering est passé de 3,6 milliards d'euros en 2022 à 3,0 milliards d'euros en 2023.
- Les ventes de Gucci ont reculé de 6 points, passant sous la barre symbolique des 10 milliards d'euros.
- Les ventes d'Yves Saint Laurent ont reculé de 4%.
- Les résultats annuels de Bottega Veneta ont reculé de 5%.
- Les résultats annuels de la catégorie "autres maisons" (qui inclut notamment Balenciaga) ont reculé de 9%.
- La croissance de Kering Eyewear et Corporate est de 38%.
- La croissance du secteur du luxe (en prenant en compte divers éléments comme les vins fins, l'automobile, les yachts, jets, meubles haut de gamme et œuvres d'art) est comprise entre 11 et 13% à taux de change constant.
- Pour le seul segment que les auteurs nomment "biens personnels de luxe", la croissance était de 8% à taux de change constant et 4% à taux de change courant.
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