Executive Summary

Feb 2019
PROSPECTS
Tourism remains important

As the political situation in Europe improves, after terrible years of terror attacks resulting in a decline in tourist numbers, the number of tourists coming from the US, Russia and Asian countries is on the rise in Spain, and helped drive growth in luxury leather goods in the country in 2018, which recorded a better performance than in the previous year. Over the forecast period the number of tourists from countries with rising disposable incomes is set to keep growing, especially Asian countries.

Spaniards want to experience more

As is happening in other categories, the performance of luxury leather goods in Spain is being shaped by Spaniards showing more interest in experiencing more, and acquiring fewer things. After a difficult review period, with most Spanish consumers being affected by the deep economic crisis, and their expenditure behaviour being influenced by declining average wages, the recovery of the Spanish economy is resulting in Spaniards allocating a higher amount of their disposable income to having experiences rather than accumulating things – this is supporting the extraordinary performance of experience packs as gifts, and the growing number of people travelling abroad.

The rising popularity of luxury travel goods

Over the forecast period, luxury leather goods is set to be influenced by the performance of luxury travel goods. Spaniards are increasingly looking to visit more cities and spreading their holidays through the year, enjoying more but shorter city breaks.

COMPETITIVE LANDSCAPE
LVMH Iberia loses ground

In line with the previous year, Louis Vuitton led luxury leather goods in Spain in value terms in 2017. However, the company lost ground, as it sold its Donna Karan brand.

Local “it” girls support sales

Following LVMH Iberica, Loewe and Gucci España were the strongest companies in luxury leather goods in Spain in value terms in 2017. It is true that Spanish consumers are not showing an extraordinary interest in luxury brands, mainly as a result of their still tight disposable incomes.

Affordable luxury set to rise

As is happening in other neighbouring countries, the top brands for overall leather goods are dominated by well-established traditional luxury brands, such as Louis Vuitton, Burberry, Prada and the Kering-owned Gucci brand. However, amongst them are also those in the affordable luxury bracket, such as Michael Kors and Donna Karan.

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Luxury Leather Goods in Spain

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Overview

Discover the latest market trends and uncover sources of future market growth for the Luxury Leather Goods industry in Spain 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 Spain, our research will save you time and money while empowering you to make informed, profitable decisions.

The Luxury Leather Goods in Spain 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 Spain?
  • What are the major brands in Spain?
  • 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 Spain - Category analysis

HEADLINES

PROSPECTS

Tourism remains important
Spaniards want to experience more
The rising popularity of luxury travel goods

COMPETITIVE LANDSCAPE

LVMH Iberia loses ground
Local “it” girls support sales
Affordable luxury set to rise

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 Spain - Industry Overview

EXECUTIVE SUMMARY

Luxury goods at a glance
Humanisation is the next step to explore
Fragmentation, with different types of players
The omnichannel approach gains ground
The need to focus on locals too

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