Luxury Losing Its Lustre in Personal Accessories

Sizing luxury personal accessories

As of 2012, the luxury segment accounted for just over 20% of global personal accessories (including sunglasses). The degree of regional development of this segment is nowhere close to that which personal accessories as a whole enjoyed in 2012.

Did luxury grow faster than the overall market?

Over the 2007-2012 period, luxury goods growth was often linked to economic optimism in individual markets. Some luxury goods leaders, such as LVMH, posted record growth in value sales over the period. However, the global market did not follow the same trend – luxury personal accessories often grew at a pace slower than lower price segments.

Importance of brand positioning

Luxury, and to an extent personal accessories sales, are dependent on the iconic positioning of leading brands such as Louis Vuitton, Cartier and Rolex. The familiarity they have established among global consumers is not only driven by advertising but also by frequent collaborations with designers and fashion shows.

Mid-priced brands in the mix

Owing to their global presence, luxury manufacturers dominate the leadership positions in personal accessories. However, mid-priced brands have started challenging their growth in an increasingly competitive landscape.

Gender still holds immense importance

Handbags and jewellery continue to be highly female-centric products, both for the luxury and non-luxury segments of personal accessories. In contrast, luxury watches is seeing an increasing dependence on male consumers.

Key markets

Although US and China will remain focus areas for luxury manufacturers, Latin America could be the next crucial geography in the race for leadership.

What this report includes

• Top-level strategic analysis of how major consumer trends will influence global markets
• Consumer insight
• Impact across all relevant consumer markets
• Unique graphics and case studies
• Key market snapshots
• Accompanying presentation to synthesise main findings

Why buy this report

• Identify factors driving change now and in the future
• Understand motivation
• Forward-looking outlook
• Briefings and presentation should provoke lively discussion at senior level
• Take a step back from micro trends
• Get up to date estimates and comment