Luxury leather goods is rebounding in 2021, following the steep negative figure declines seen in 2020. In 2020, particularly, and also into the first part of 2021, the category was impacted by limitations on the number of people in stores per square meter, which remained effective into the first half of 2021.
Luxury luggage (luxury travel goods), having experienced a double-digit decline in 2020, started to see a moderate recovery at the end of spring 2021 which has been further boosted over the year. This is attributed to the recovery in domestic travel and the resumption of non-essential international travel.
Louis Vuitton AB maintains a strong lead in luxury leather goods and, indeed, has grown its shares in 2020, proving to be one of the most resilient companies during the time of the pandemic crisis. Prior to the pandemic Louis Vuitton had managed to expand its online presence, launching its own website in 2019 and, in 2020, the company renovated and extended its store in Stockholm.
Sales are expected to slow down over the forecast period, following the boost seen in 2021 as the category rebounded. Pandemic-related factors regarding travel will ultimately continue to affect demand for luxury bags and luggage, and Swedes are also tapping into the global consumption shift from “things” to experiences once again, in a trend which impedes the more robust growth of personal luxury in Sweden, including leather goods.
Following the success of big fashion houses such as Dior, Gucci, Fendi and Louis Vuitton, in launching e-commerce platforms in Sweden, more retailers are expected to expand their online offers and advance their digital tools to reach customers and provide personalised services. The share of e-commerce sales in luxury leather goods will therefore continue to grow steadily over the forecast period.
The competitive environment in Sweden will continue to be dominated by international luxury brands, which are slightly better positioned to benefit from Europe-based manufacturing, therefore less vulnerable to supply chain disruptions, which mass market fashion brands are facing in South-East Asia.
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 Sweden 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 Sweden, 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!