There has been an increase in demand for new brands and extensions since most luxury consumers already own some iconic items from major players. However, most leading brands are still the driving force, with each range having a flagship product that attracts consumers.
Two opposing trends are gaining traction within luxury bags. On the one hand, more discreet models without brand logos are perceived as being more elegant and also safer, especially in Brazil, where public safety issues can make it dangerous to carry expensive items in the street.
Leather products remain flagship items for many brands, with Brazilian consumers typically not asking about the origin of raw materials or manufacturing processes. Most consumers usually assume that luxury brands already comply with sustainability standards, especially given high prices.
The logomania trend has been leveraged by Gucci in all areas in which the brand operates, especially among younger consumers. In a popular series of videos called “Quanto custa o outfit?” (how much does the outfit cost?) created by the Hyped Content Brasil YouTube channel, young high-income consumers are asked what brands they are wearing and the respective price.
Luxury brands continue to promote events such as dinners, cocktails and fashion shows in regional cities. However, recently some brands have intensified their actions in new regions (outside traditional luxury centres in cities of Rio de Janeiro and Sao Paulo).
Pop-up sections for brands inside multi-brand stores are expected to gain relevance as part of another step towards the development of new luxury consumers. Fendi, for example, opened one pop-up section in a multi-brand store from Recife (Dona Santa store) that recreated the ideal store environment.
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Discover the latest market trends and uncover sources of future market growth for the Luxury Leather Goods industry in Brazil with research from Euromonitor's team of in-country analysts.
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