Luxury leather goods categories were not equally impacted by the pandemic. While the interest in luxury bags and small leather goods continued to grow throughout 2020, luxury travel goods faced a huge decline.
The leading brand, Louis Vuitton recorded an outstanding performance in 2020, despite only having one physical store in the country, and no availability online. At the beginning of the year, the brand launched a campaign in collaboration with local influencers, in which they donated five items to five social causes.
A significant portion of luxury leather goods are bought by business users, and items such as briefcases or other business bags remain high status items at senior managerial level. The closure of non-essential business during the 2020 lockdown has seen many of these consumers working remotely, in line with government recommendations.
Both luxury bags and small leather goods and luxury travel goods are expected to record a good performance over the forecast period. Purchases by more traditionally affluent consumers should remain solid thanks to the number of high-net-worth individuals set to continue rising.
The onset of the pandemic in 2020 has accelerated the switch to e-commerce with most Romanian consumers no longer afraid to shop online. It is expected that even in the aftermath of the pandemic, consumers who made the switch to the online channel will continue to shop via e-commerce, at least some of the time, thus limiting their purchases via store-based means.
There is still strong underlying demand for luxury leather goods in Romania and consumer preferences are not anticipated to shift greatly over the forecast period. Romanian women are highly fashion conscious and increasingly sophisticated, particularly thanks to the impact of social media.
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
This report comes in PDF with additional info in Excel included.
Understand the latest market trends and future growth opportunities for the Luxury Leather Goods industry in Romania with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Luxury Leather Goods industry in Romania, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Luxury Leather Goods
This is the aggregation of luxury bags and small leather goods and luxury travel goods.See All of Our Definitions
This report originates from Passport, our Luxury Leather Goods research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!