Of all personal luxury goods, luxury leather goods are expected to register the highest current value growth, as after the lockdowns and with society gradually opening up, women splurge on designer handbags and also luxury travel goods performs strongly, as international travel picks up. In 2021, it is expected that luxury leather goods will recover the value sales that they list in 2020, with value saes being on a par with levels before the onset of COVID-19.
Luxury leather goods is highly fragmented, with a wide array of choice in terms of brands. Well-known international brands Michael Kors, Chanel, Louis Vuitton, Saint Laurent, Armani, Prada, Christian Dior, Burberry, Miu Miu and Gucci occupy the top ten positions.
An ongoing challenge to value growth in luxury goods in Ukraine is the widespread availability of counterfeit goods and this is particularly true for luxury leather goods. In general, consumers do not knowingly buy imitation goods but particularly online, a lot of the luxury leather goods sold are counterfeit.
It is hoped that the pandemic will not have a long-term effect on the economy and if the economic recovery is speedy, luxury leather goods will register very healthy constant value growth. However, once international travel picks up, a certain portion of local value sales will shift to airport outlets and also overseas.
Women's luxury bags and small leather goods is the by far largest product area, accounting for most of value sales. Ukrainian women prefer bags in different colours, styles, sizes and textures to suit various dress styles and occasions.
In 2020, there was an increase in e-commerce sales due to COVID-19, with people encouraged to shop online and avoid visiting brick-and-mortar premises. While luxury leather goods can cross over to digital channels easier than many other luxury goods, Ukrainian consumers are wary because of a lot of online sales are counterfeit.
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Understand the latest market trends and future growth opportunities for the Luxury Leather Goods industry in Ukraine 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.
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Luxury Leather Goods
This is the aggregation of luxury bags and small leather goods and luxury travel goods.
See All of Our DefinitionsThis report originates from Passport, our Luxury Leather Goods research and analysis database.
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