While just a few global players own many of the top-selling personal accessories brands, the industry remains highly fragmented, with unbranded and private label products holding a significant share of sales. With the global trend towards increased digital device use, as well as increased values-driven consumption, leading personal accessories companies are seeking to connect with more consumers for longer in order to maintain market share, while also looking to M&A activity for quicker growth.
Based on the company’s existing brand and product portfolios, as well as existing market sizes, the rankings of the top 10 companies in personal accessories are not projected to change significantly over the coming years.
However, amid the COVID-19 pandemic, M&A activity has begun to accelerate.
As they seek to continue to expand their portfolios, many of the largest personal accessories players are likely to take advantage of opportunities to acquire smaller, independent and cash-strapped brands, often left more vulnerable by the pandemic, at a discount.
Then, they will aim to leverage portfolio-wide synergies in marketing, logistics and retail in order to grow their new brands’ revenues and profitability.
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