The Global Luxury Handbags Market is projected to grow at a CAGR of around 6.3% during the forecast period, i.e., 2022-27. The growth of the market is driven primarily by the swiftly expanding fashion sector entwined with an escalating working female population. Besides, with the growing brand awareness among consumers & their swiftly improving economic conditions, changing living standards, and greater preference toward luxury living, the sales of extravagant handbags are accelerating rapidly & fueling the overall market growth.
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Top leading companies in the Global Luxury Handbags Market includes:
Burberry, Calvin Klein Inc., Coach IP Holdings LLC, Chanel Ltd, Fendi, Giorgio Armani S.p.A. , Guccio Gucci S.p.A., Hermès International S.A., Kate Spade, Louis Vuitton Malletier, Michael Kors Holdings Ltd, Prada S.p.A. , Others.
Key Drivers: Growing Fashion Consciousness & Easy Availability of Luxury Handbags
The growing worldwide popularity of luxury handbags of different brands owing to their easy availability across various countries, coupled with the escalating fashion consciousness among people & their improving purchasing power, are the prominent factors driving the Global Luxury Handbags Market through 2027.
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Report Segmentation:
The market is categorized into the following segments in the report:
By Product
-Tote
-Clutch
-Satchel
-Others (Hobo, Body Cross, Saddle)
By Raw Material
-Leather
-Fabric
By Consumer Group
-Men
-Women
-Unisex
By Distribution Channel
-Online
-E-commerce Websites
-Company Owned Websites
-Offline
-Specialty Stores
-Mega Retail Stores
-Others (Individual Stores, Departmental Stores, etc.).
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Global Luxury Handbags Market Geographic Reach:
The Geographic Reach of the Global Luxury Handbags Market evaluates the spread and significance of Global Luxury Handbags market consumption across different regions/country, emphasizing areas with the largest market size and the most promising growth potential.
· North America: USA, Canada
· Europe: Germany, The UK, France, Italy, Russia
· Asia-Pacific: China, India, Japan, South Korea, Australia and Others
· South America: Brazil, Mexico
· Middle East & Africa: Israel, Turkey, UAE, Saudi Arabia, South Africa.
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