Executive Summary

Feb 2019
PROSPECTS
Flourishing tourism stimulates demand for luxury leather goods

In the first half of 2018, national tourism was on the rise with healthy growth covering both inbound and outbound travelling according to the Ministry of Culture and Tourism of the People’s Republic of China. Due to a growing economy in 2018, Chinese citizens, empowered by improving living standards and rising disposable incomes, perceived travelling as a significant way of broadening their horizons and enriching the mind, thus stimulating a rise in demand for bags and luggage for travelling.

Women’s luxury bags and small leather goods posts the fastest growth

Women’s luxury bags and small leather goods recorded the highest current value growth in 2018, outpacing other categories such as luxury bags and small leather goods targeted at men and also high-end luggage. Many Chinese women want to be employed and live independently with an improved social status.

Ethical concept of sustainability gaining prominence

Ethical concepts are also an important aspect of luxury leather goods in China. Ethical concepts, such as environmental and social sustainability, are in fact in line with sustainable development that is encouraged by the national government.

COMPETITIVE LANDSCAPE
Industry players focus on internet retailing in China

In the face of rising consumption of luxury goods in mainland China, industry players are focusing strongly on expansion within internet retailing, a robustly growing channel highly appreciated by young local consumers, many of whom rely heavily on online shopping. In August 2017, LVMH Moët Hennessy Louis Vuitton with its renowned brand Loewe gained an early advantage by being sold through an e-commerce platform in China through a business collaboration with Tmall.

Stella McCartney expands

In December 2017, Stella McCartney announced its strategic partnership with Alibaba Group by setting up a flash store on Tmall.com, thus creating a route to reach a wider consumer base for its luxury leather goods in China.

Unique festival-themed leather goods have strong momentum

In 2017, growth of Chinese luxury leather goods enabled industry players to adopt localised strategies, as consumers in China came to be regarded as a significant driving force on a global scale. To increase their competitiveness, luxury brands launched festival-themed leather goods, in particular, those designed to cater to Chinese shopping events.

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Luxury Leather Goods in China

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Overview

Discover the latest market trends and uncover sources of future market growth for the Luxury Leather Goods industry in China with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Luxury Leather Goods industry in China, our research will save you time and money while empowering you to make informed, profitable decisions.

The Luxury Leather Goods in China market research report includes:

  • Analysis of key supply-side and demand trends
  • Detailed segmentation of international and local products
  • Historic volumes and values, company and brand market shares
  • Five year forecasts of market trends and market growth  
  • Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

  • What is the market size of Luxury Leather Goods in China?
  • What are the major brands in China?
  • How dynamic is the growth of Luxury Leather Goods internet sales?
  • What is driving growth?

Why buy this report?

  • Gain competitive intelligence about market leaders
  • Track key industry trends, opportunities and threats
  • Inform your marketing, brand, strategy and market development, sales and supply function

Luxury Leather Goods in China - Category analysis

HEADLINES

PROSPECTS

Flourishing tourism stimulates demand for luxury leather goods
Women’s luxury bags and small leather goods posts the fastest growth
Ethical concept of sustainability gaining prominence

COMPETITIVE LANDSCAPE

Industry players focus on internet retailing in China
Stella McCartney expands
Unique festival-themed leather goods have strong momentum

CATEGORY DATA

Table 1 Sales of Luxury Leather Goods: Value 2013-2018
Table 2 Sales of Luxury Leather Goods: % Value Growth 2013-2018
Table 3 NBO Company Shares of Luxury Leather Goods: % Value 2013-2017
Table 4 LBN Brand Shares of Luxury Leather Goods: % Value 2014-2017
Table 5 Distribution of Luxury Leather Goods by Format: % Value 2013-2018
Table 6 Forecast Sales of Luxury Leather Goods: Value 2018-2023
Table 7 Forecast Sales of Luxury Leather Goods: % Value Growth 2018-2023

Luxury Goods in China - Industry Overview

EXECUTIVE SUMMARY

Strong and growing momentum of luxury goods in China within a healthy macroeconomic context
Millennials are major consumers of Chinese luxury goods
Significant variation across segmented categories
Internet retailing sustains robust growth, catering to digitally aware consumers
Growth momentum is set to continue

MARKET INDICATORS

Table 8 Number of High Net Worth Individuals (HNWI): 2013-2018

MARKET DATA

Table 9 Sales of Luxury Goods by Category: Value 2013-2018
Table 10 Sales of Luxury Goods by Category: % Value Growth 2013-2018
Table 11 Inbound Receipts for Luxury Goods by Country of Origin: Value 2013-2018
Table 12 NBO Company Shares of Luxury Goods: % Value 2013-2017
Table 13 LBN Brand Shares of Luxury Goods: % Value 2014-2017
Table 14 Distribution of Luxury Goods by Format and Category: % Value 2018
Table 15 Forecast Sales of Luxury Goods by Category: Value 2018-2023
Table 16 Forecast Sales of Luxury Goods by Category: % Value Growth 2018-2023

SOURCES

Summary 1 Research Sources