Bags and Luggage in Italy - New Market Study Published

From: Fast Market Research, Inc.
Published: Fri Apr 03 2015

The Italian market of bags and luggage kept showing signs of crisis in 2014, with sales decreasing by 3% in both volume and current value terms. While exports remained the main focus of Italian leather manufacturers producing bags and luggage, the domestic demand continued to be weak, being affected by a debilitated economy and low consumersí confidence. An important trend noticeable within Italy in 2014 was the increasing polarization of the market of bags and luggage. While average items were more affected by the crisis of demand, cheaper options were able to weather the crisis more fiercely, as well as luxury bags and luggage thanks to the request coming from tourists.

Competitive Landscape

Prada SpA was the leader within bags and luggage in 2013, accounting for value shares of over 16% in Italy. The company was followed Gucci SpA and LVMH MoŽt Hennessy Louis Vuitton, respectively. All these companies are positioned at the luxury to top-luxury end and therefore enjoy high profit margins. And account for a total of 40% value shares in 2013. Their strategy is to stress high-quality craftsmanship and design, targeting affluent consumers, including tourists visiting Italy for luxury shopping. As these consumers were less affected by the effects of the recession, both Prada, Gucci and LVMH could count on their demands and counterbalance the decrease in demand from Italian consumers.

Full Report Details at

Industry Prospects

Sales of bags and luggage are set to keep finding a challenging situation over the forecast period, considering the slow recovering that is expected for Italy. While the GDP is forecasted to show a slight growth above 0% in 2015, consumersí confidence is likely to remain low and Italians to keep being careful about shopping of non-essential items such as bags and luggage. However, a mild improvement is likely to occur and sales are set to decline at slower rates, showing a less negative constant value CAGR over the forecast period, of -2% which compared to the historic constant value CAGR of -4%.

About Fast Market Research

Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget.

For more information about these or related research reports, please visit our website at or call us at 1.800.844.8156 (1.413.485.7001 Int'l)

You may also be interested in these related reports:

- Bags and Luggage in Singapore
- Bags and Luggage in the United Kingdom
- Bags and Luggage in Japan
- Bags and Luggage in Turkey
- Bags and Luggage in Russia

Company: Fast Market Research, Inc.
Contact Name: Bill Thompson
Contact Email:
Contact Phone: 1-413-485-7001

Visit website »