Executive Summary

Feb 2019
PROSPECTS
Brands bank on exclusivity and customisation

One of the trends among local consumers when it comes to luxury brands is that less is more. This means that “loud” or ostentatious brands are not favoured by some affluent consumers, who are concerned not to show off their high social status.

Stores within luxury hotels add dynamism to luxury leather goods

A good way to attract the target audience for luxury goods, including leather goods, is to place stores or boutiques in locations frequented by tourists and affluent locals. The strategic location trend is accelerating as more and more luxury hotels attract local and international tourists, especially in key cities across the country.

Travel spurs growth for luxury leather goods

While most local consumers with sufficient disposable incomes travel to neighbouring countries and within the Philippines, affluent consumers visit more exclusive places. These include luxury shopping districts and resorts in the Philippines and countries with more or more defined seasons.

COMPETITIVE LANDSCAPE
Coach bounces back with wider store coverage

Having opened its first new store in 2015, after revamping the brand, Coach opened a sixth store in the Philippines in 2018. This is seen as an effort to lure consumers, especially millennials and young professionals.

Players tap into strategic locations

Sheraton Manila Hotel and Dusit Thani Mactan Cebu are just two of the upcoming luxury hotels in the country. Luxury leather goods players are expected to take advantage of the new openings by gaining a presence within hotels to secure more strategic locations capable of reaching target audiences.

Travel culture offers growth opportunities for manufacturers

The burgeoning travel culture among Filipino consumers is expected to continue to have a huge influence on the coming trends in luxury leather goods. Thus, companies are set to keep pace with the advances in technology in relation to travel bags, such as smart luggage, anti-thief backpacks and other bags that are highly travel-friendly.

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Luxury Leather Goods in the Philippines

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Overview

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

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

HEADLINES

PROSPECTS

Brands bank on exclusivity and customisation
Stores within luxury hotels add dynamism to luxury leather goods
Travel spurs growth for luxury leather goods

COMPETITIVE LANDSCAPE

Coach bounces back with wider store coverage
Players tap into strategic locations
Travel culture offers growth opportunities for manufacturers

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 the Philippines - Industry Overview

EXECUTIVE SUMMARY

Luxury goods remains resilient in the face of unfriendly economic conditions
Positive 2018 growth for luxury goods
Highly fragmented, fast-developing industry
Internet retailing shoots for fastest growth
Positive, if slower growth forecast due to economic fears

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