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1 TechNavio Infiniti Research Research Limited v2680/ Publisher Sample Phone: (US) or or (Int'l) Hours: Monday - Thursday: 5:30am - 6:30pm EST Fridays: 5:30am - 5:30pm EST customerservice@marketresearch.com MarketResearch.com

2 technavio insights

3 01. Market Research Methodology Market Research Process TechNavio identifies the key opportunities in leading markets and develops various methodologies for data collection and analysis. The micro, meso, and macroeconomic indicators of the market are studied to ascertain the dynamics of the market. Research Design TechNavio s reports are based on in-depth qualitative and quantitative analyses of various markets. Qualitative analysis involves the application of various projection and sampling techniques, whereas quantitative analysis involves primary interviews, surveys, and vendor briefings. The data thus gathered is validated through experts' opinions. Based on research results and technical insights, TechNavio analysts refine the existing methodologies to analyze the various aspects of the market. Exhibit 1: Market Research Methodology Handbags Market in the US Source: TechNavio Analysis

4 TechNavio analysts gather inputs from various vendors and industry experts and verify the information collected with databases, financial reports, industry papers, and various other secondary sources. The impact of global economic conditions and other macroeconomic indicators are also considered while assessing the market. Research Methodology TechNavio analysts have adopted primary as well as secondary research techniques to ascertain the size and vendor landscape of the Handbags Market in the US. The information is obtained using a combination of the bottom-up and top-down approaches, besides using inhouse market modeling tools. The data is then corroborated with data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

5 02. Executive Summary Market Size Market Growth Rate By Revenue By Volume By Revenue By Volume 2014: US$ XXX 2019: US$ XXX 2014: XXX 2019: XXX 2014: XXX percent 2019: XXX percent 2014: XXX percent 2019: XXX percent CAGR By Revenue XXX percent By Volume XXX percent Key Customer Segments End-users Key Market Drivers Key Market Challenges Key Market Trends Economic Growth Driver 2 Driver 3 Driver 4 Driver 5 Driver 6 Increase in Marketing Campaigns Increase in Competition from Local Brands and Counterfeit Products Challenge 2 Challenge 3 Rising Travel Costs Increasing Disposable Income Trend 2 Trend 3 Trend 4 Increasing Investment in R&D Key Buying Criteria Brand Design Marketing Campaigns Material Price

6 Key Vendors Burberry Group plc Chanel SA Coach Inc. Hermès International SA Kate Spade LVMH Michael Kors Mulberry PRADA Ralph Lauren Tory Burch

7 03. Scope of the Report 03.1 Market Overview This report covers the present scenario and the growth prospects of the Handbags market in the US for the period To calculate the market size, the report takes into account revenue generated from the sales of handbags by organized and unorganized retailers. The volume of sales is calculated on the basis of total number of units sold by organized and unorganized retailers. Exhibit 2: Scope of the Report Totes Shoulder Bags (includes cross body bags) Purses and Wallets Satchels and Saddles By Product Specialty Stores Department Stores Hypermarkets and Supermarkets Online Retailers Discount Stores Others By Distribution Channel Age Group Price Style Material By Category Source: TechNavio Analysis The report also presents the vendor landscape and a corresponding detailed analysis of the 11 major vendors in the market. In addition, it discusses the major drivers that influence the growth

8 of the market and the challenges faced by vendors and the market at large. It also outlines the key trends that are expected to emerge in the market during the forecast period Product Offerings Some of the products offered by the major vendors in the Handbags market in the US are listed below. Company Products Offered Burberry Signature Bags Totes Bowling Bags Clutches Shoulder Bags Chanel Clutches Totes Sling Bags Coach Whiplash Shoulder Bags Wallets And Wristlets Hermès International Messenger Bags Totes Shoulder Bags Kate Spade Totes Satchels Shoulder Bags Clutches Wallets Diaper Bags LVMH Clutches Shoulder Bags Cross Body Mini Bags Michael Kors Totes Satchels Shoulder Bags Clutches Wallets

9 Mulberry Totes Clutches Cross Body Messenger Bags Satchels Shoulder Bags Wallets PRADA Totes Shoulder Bags Clutches Small Bags Top Handles Bucket Bags Wallets Ralph Lauren Totes Clutches Cross Body Satchels Tory Burch Totes Clutches Cross Body Mini Bags

10 04. Introduction Demand for handbags is rising in the US with the increasing demand for affordable luxury handbag brands such as Michael Kors, Kate Spade, Marc Jacobs, Ralph Lauren, Coach, and Tory Burch. The arrival of numerous brands and their easy availability through retail stores and online retail channels has increased the demand for handbags among consumers in the US. The Handbags market in the US was dominated by the Purses and Wallets segment in 2014 in terms of revenue and volume. The market has been growing at a steady pace in terms of revenue and volume and is expected to post CAGRs of 5.90 and 5.29 percent, respectively, during the forecast period. The launch of various innovative handbags and the growing number of retail outlets in the US are fueling the growth of the market. The growth in the market is driven by the reviving economic conditions. Online retailing is another key reason for the high consumption and sales of handbags in the country. Demand for affordable luxury brands is also contributing to market growth. The growth of the market is curtailed by some serious challenges, a major one being the increased competition from local brands. The highly fragmented nature of the market is another factor that hinders market growth. Note: Information included in this sample are extracts of the full report.

11 04.1 Key Questions Answered in this Report What will the market size be in 2019 and what will be the growth rate? What are key market trends? What is driving this market? What are the challenges to market growth? Who are the key vendors in this market space? What are the market opportunities and threats faced by key vendors? What are the strengths and weaknesses of each of these key vendors?

12 05. Market Landscape 05.1 Market Size and Forecast By Revenue The Handbags market in the US was valued at US$ XXX in 2014 and is expected to reach US$ XXX by 2019, growing at a CAGR of XXX percent. Exhibit 3: Handbags Market in US (US$ million) Actual exhibits are available in full report only Source: TechNavio Analysis The market has been growing at a steady rate and is expected to exhibit similar patterns during the forecast period. The high demand for affordable luxury products, a stabilizing economy, increasing disposable income, and rising spending by teens are driving the market. Brands such as Coach, Michael Kors, Kate Spade, Ralph Lauren, and Tory Burch are popular among consumers. The growing number of retail stores in the US is also driving the demand for such brands because of their easy availability and affordability. Note: Information included in this sample are extracts of the full report.

13 06. Market Growth Drivers Some of the major market drivers in the Handbags market in the US are as follows: Economic Growth The US economy has been showing signs of strength. The economy has recovered from recession, unemployment has declined, home-sale prices have improved, and the stock market is reporting record highs. As a result, wealthy Americans are spending freely on expensive clothing, accessories, jewelry, and cosmetics. The sale of handbags is also increasing because of their increased use as status symbols and fashion accessories. Note: Information included in this sample are extracts of the full report.

14 07. Market Challenges Some of the major challenges in the Handbags market in the US are as follows: Increase in Competition from Local Brands and Counterfeit Products Challenge 2 Challenge 3 Rising Travel Costs Handbags Market in US Increase in Competition from Local Brands and Counterfeit Products One of the main challenges hindering the growth of the market is the increasing competition from counterfeit or fake products. The easy availability of a number of cheap handbag brands in the market is leading to market fragmentation, resulting in lack of price standardization, uneven competitive scenario, and market share erosion. To gain a competitive advantage over international brands these brands price their products very low; but such products lack quality and durability. Lack of knowledge and easy affordability results in consumers buying these products. As a result, legitimate and well-established vendors operating in the market fail to achieve optimal market penetration, which results in inventory backlog in their supply chain. The brand images of wellestablished vendors in the market may also be affected if consumers buy counterfeit products under the perception that the products belong to the original brand. Such issues restrict market growth and impact the profit margins of genuine manufacturers. Some of the brands commonly imitated are LVMH, Gucci, Chanel, Burberry, Nike, and Guess. Note: Information included in this sample are extracts of the full report.

15 08. Market Trends Some of the major trends emerging in the Handbags market in the US are as follows: Increasing Disposable Income Increasing Investment in R&D Handbags Market in US Trend 2 Trend 4 Trend 3 Increasing Disposable Income Demand for luxury handbags is rising with the increase in disposable income among consumers. Though purchasing power fell by XXX percent in 2013, it is estimated that it will rise by XXX percent in 2014, XXX percent in 2015, and XXX percent in With the rise in disposable income consumers are spending more on affordable luxury products than on premium luxury products. Note: Information included in this sample are extracts of the full report.

16 09. Vendor Landscape 09.1 Competitive Scenario Luxury products and the Luggage industry are highly affected by rapidly changing consumer demands and preferences. Vendor performance in the Handbags market in the US may be influenced by changes in consumer spending patterns. It may also be affected by consumer tastes, regional, national, and local economic conditions, and demographic trends. Vendors in the market compete on the basis of price, quality, innovation, service, reputation, distribution, and promotion. The increasing vendor competition may lead to vendors reducing their product prices, which could negatively affect profit margins and market growth. The Handbags market in the US was dominated by Coach in 2014, with a market share of percent. Though the company s share is decreasing in the US, it continues to lead the market. The increasing popularity of affordable luxury brands such as Michael Kors, Tory Burch, Ralph Lauren, and Kate Spade is the major threat to Coach. One of the reasons for this trend is the paradigm shift of consumers toward cheaper products since the recession. The influx of private labels in the market is on the rise. To survive and succeed in the intensely competitive environment, vendors in the market have to distinguish their products and service offerings through a clear and unique value proposition. Note: Information included in this sample are extracts of the full report.

17 10. Key Vendor Analysis 10.1 B Burberry Business Overview Burberry was founded in 1856 and is headquartered in London, UK. It is a global luxury brand that designs, sources, manufactures, and distributes a variety of luxury goods under the Burberry brand for men, women, and children. The company's key product portfolio includes women s wear, men s wear, children s wear, beauty products, and accessories. The company operates through three business segments: Retail: Engages in the sale of luxury goods through the Burberry mainline stores, outlets, concessions, franchisees, and department stores worldwide; includes 215 mainline stores, 227 concessions within department stores, digital commerce, and 55 outlets Wholesale: Includes sales to department stores, multiband specialty accounts, travel retail and franchisees (70 stores), and beauty market through 100 distributors globally Licensing: Generates revenue from global licenses for timepiece, fragrance, eye wear, and Burberry's partners in Japan Recent Developments Company Details Description Key Highlights December 2014: Commences the first Burberry beauty store in the APAC November 2014: Announces the launch of its first global festive campaign Note: Information included in this sample are extracts of the full report.

18 SWOT Analysis

19 TABLE OF CONTENT 01. Executive Summary List of Abbreviations Scope of the Report Market Overview Product Offerings Market Research Methodology Market Research Process Research Methodology Overview of Luggage Market About Luggage Types of Luggage Handbags Segment Travel Bags Segment Business Bags Segment Factors that Affect Global Luggage Market Economic Indicators - Global Travel and Tourism Industry E-commerce Advertising and Marketing Campaigns PEST Analysis Distribution Channels in Global Luggage Industry Analysis of Distribution Channels for Luggage and Handbags Some Key Facts Introduction Country Profile: US... 36

20 10.1 Overview Market Landscape Market Overview Market Size and Forecast By Revenue By Volume ASP, PCC, and PCE on Handbags in US Consolidated Data for Handbags Market in US Five Forces Analysis Market Segmentation by Products Totes Market in US Consolidated Data for Totes Market in US Purses and Wallets Market in US Consolidated Data for Purses and Wallets Market in US Shoulder Bags Market in US Consolidated Data for Shoulder Bags Market in US Satchels and Saddles Market in US Consolidated Data for Satchels and Saddles Market in US ASP, PCC, and PCE of Handbags Market in US Market Segmentation by Category Segmentation of Handbags Market in US by Age Group Segmentation of Handbags Market in US by Price Segmentation of Handbags Market in US by Style Segmentation of Handbags Market in US by Material Market Segmentation by Distribution Channel Buying Criteria... 65

21 16. Market Growth Drivers Drivers and their Impact Market Challenges Impact of Drivers and Challenges Market Trends Trends and their Impact Vendor Landscape Competitive Scenario Pricing Strategy Market Share Analysis Key Vendors Burberry Chanel Coach Hermès International Kate Spade LVMH Michael Kors Mulberry PRADA Ralph Lauren Tory Burch Other Prominent Vendors Key Vendor Analysis Burberry Key Facts Business Overview Business Segmentation by Revenue

22 Product Segmentation by Revenue Business Segmentation by Revenue 2013 and Geographical Segmentation by Revenue Business Strategy Recent Developments SWOT Analysis Chanel Key Facts Business Overview Key Offerings Competitors Recent Developments Business Strategy SWOT Analysis Coach Key Facts Business Overview Competition Product Segmentation Product Segmentation by Revenue 2013 and Geographical Segmentation by Revenue Business Strategy Recent Developments SWOT Analysis Hermès Key Facts Business Overview Product Segmentation by Revenue

23 Products Segmentation by Revenue 2012 and Geographical Segmentation by Revenue Competitors SWOT Analysis Kate Spade Key Facts Business Overview Business Segmentation by Revenue Business Segmentation by Revenue 2012 and Geographical Segmentation by Revenue Business Strategy Recent Developments SWOT Analysis LVMH Group Key Facts Business Overview Business Segmentation Business Segmentation by Revenue 2013 and Geographical Segmentation by Revenue Recent Developments SWOT Analysis Michael Kors Key Facts Business Overview Business Segmentation by Revenue Business Segmentation by Revenue 2013 and Geographical Segmentation by Revenue Business Strategy

24 Competitors Recent Developments SWOT Analysis Mulberry Key Facts Business Overview Business Segmentation by Revenue Business Segmentation by Revenue 2013 and Geographical Segmentation by Revenue Business Strategy SWOT Analysis PRADA Key Facts Business Overview Product Segmentation by Revenue Product Segmentation by Revenue 2013 and Geographical Segmentation by Revenue Business Strategy Recent Developments SWOT Analysis Ralph Lauren Key Facts Business Overview Business Segmentation by Revenue Business Segmentation by Revenue Geographical Segmentation by Revenue Business Strategy SWOT Analysis

25 23.11 Tory Burch Key Facts Business Overview Product Segmentation Geographical Presence Recent Developments SWOT Analysis Other Reports in this Series

26 EXHIBITS Exhibit 1: Scope of the Report... 5 Exhibit 2: Market Research Methodology... 8 Exhibit 3: Types of Luggage Exhibit 4: Types of Handbags Exhibit 5: Types of Travel Bags Exhibit 6: Types of Business Bags Exhibit 7: Growth in World GDP and Per Capita GDP Exhibit 8: Key Global Economic Indicators that Affect Luggage Industry Exhibit 9: Top Five Populous Countries Exhibit 10: Comparison of GDP Growth Rate: Advanced Economies versus Emerging Economies Exhibit 11: Annual Investments in Advanced and Developed Economies (% of GDP) Exhibit 12: Spending on Travel and Tourism (US$ billion) Exhibit 13: Top Five Revenue Generating Destinations in Travel and Tourism Industry 2013 (US$ billion) Exhibit 14: Segmentation of Global E-commerce Market by Geography

27 Exhibit 15: Global Share of Digital Buyers Exhibit 16: Global Share of Digital Buyers by Geography Exhibit 17: Leading Countries in Global Retail E-commerce Market Exhibit 18: Leading Companies: Spending on Advertising 2013 (US$) Exhibit 19: Overview of Social Media Activity of Luggage Companies Exhibit 20: PEST Analysis for Luggage Industry in US Exhibit 21: Analysis of Distribution Channels in Luggage Industry Exhibit 22: GDP Per Capita (US$) Exhibit 23: US Population (million) Exhibit 24: US Population by Age 2013 (million) Exhibit 25: Overview of Handbags Market in US Exhibit 26: Handbags Market in US (US$ million) Exhibit 27: Handbags Market in US (million units) Exhibit 28: ASP (US$), PCC (units), and PCE (US$) on Handbags in US Exhibit 29: Consolidated Data for Handbags Market in US Exhibit 30: Segmentation of Handbags Market in US by Product Exhibit 31: Handbags Market in US by Revenue

28 Exhibit 32: Totes Market in US (US$ million, million units) Exhibit 33: Consolidated Data for Totes Market in US Exhibit 34: Purses and Wallets Market in US (US$ million and million units) Exhibit 35: Consolidated Data for the Purses and Wallets Market in US Exhibit 36: Shoulder Bags Market in US (US$ million, million units) Exhibit 37: Consolidated Data for Shoulder Bags in US Exhibit 38: Satchels and Saddles Market in US (US$ million, million units) Exhibit 39: Consolidated Data for Satchels and Saddles Market in US Exhibit 40: ASP of Handbags by Segments in US (US$) Exhibit 41: PCC of Handbags in US (units) Exhibit 42: PCE on Handbags in US (US$) Exhibit 43: Segmentation of Handbags Market in US by Category Exhibit 44: Segmentation of Handbags Market in US by Age Group Exhibit 45: Segmentation of Handbags Market by Price Exhibit 46: Segmentation of Handbags Market in US by Style Exhibit 47: Segmentation of Handbags Market in US by Material

29 Exhibit 48: Segmentation of Handbags Market in US by Distribution Channel Exhibit 49: Economic Indicators Exhibit 50: Overview of Online Retail Market in US Exhibit 51: Overview of Teen Expenditures in US Exhibit 52: Growth of Disposable Income Exhibit 53: Overview of Female Workforce in US Exhibit 54: Pricing Matrix of Michael Kors, Ralph Lauren, VFC, and Coach for Handbags Exhibit 55: Key Leading Vendors in Handbags Market in US Exhibit 56: Handbags Available at Burberry Exhibit 57: Coach: Net Sales and Gross Profit (US$)... Exhibit 58: Net Sales of Women's Handbags Exhibit 59: Number of Coach's Retail and Outlet Stores in North America Exhibit 60: Some Brands Offered by Hermès Exhibit 61: Net Sales and Gross Profit of Kate Spade (US$) Exhibit 62: Types of Handbags Offered by Kate Spade Exhibit 63: Number of Retail Stores and Average Size (square feet) in US Exhibit 64: Number of Retail Stores and Average Size(square feet) in US until Exhibit 65: Kate Spade: E-commerce Websites... 93

30 Exhibit 66: Handbag Brands Owned by LVMH Exhibit 67: LVMH: Revenue Breakdown of Fashion and Leather Goods Segment by Geography Exhibit 68: Michael Kors: Net Sales and Revenue by Segment and Geographical Location Exhibit 69: Michael Kors: Total Revenue Exhibit 70: Michael Kors: Retail Stores and their Comparable Sales Growth Exhibit 71: Michael Kors: Price Range of Products Exhibit 72: Top Handbag Brands by Mulberry Exhibit 73: Product Mix (% of SKU) Exhibit 74: Brand Offerings by PRADA Exhibit 75: Ralph Lauren: Net Revenue and Gross Profit (US$ million) Exhibit 76: Categories of Handbags Available at Ralph Lauren Exhibit 77: Distribution of Ralph Lauren Products in US Exhibit 78: Handbags Categories Available at Tory Burch Exhibit 79: Collections Available at Tory Burch Exhibit 80: Burberry: Business Segmentation by Revenue Exhibit 81: Burberry: Product Segmentation by Revenue Exhibit 82: Burberry: Business Segmentation by Revenue 2013 and 2014(US$ million) Exhibit 83: Burberry: Geographical Segmentation by Revenue

31 Exhibit 84: Coach: Product Segmentation Exhibit 85: Coach: Product Segmentation by Revenue 2013 and 2014 (US$ billion) Exhibit 86: Coach: Geographical Segmentation by Revenue Exhibit 87: Hermès: Product Segmentation by Revenue Exhibit 88: Hermès: Product Segmentation by Revenue 2012 and 2013 (US$ million) Exhibit 89: Hermès: Geographical Segmentation by Revenue Exhibit 90: Kate Spade: Business Segmentation by Revenue Exhibit 91: Kate Spade: Business Segmentation by Revenue 2012 and 2013 (US$ million) Exhibit 92: Kate Spade: Geographical Segmentation by Revenue Exhibit 93: LVMH Group: Business Segmentation Exhibit 94: LVMH Group: Business Segmentation by Revenue 2013 and 2014 (US$ million) Exhibit 95: LVMH Group: Geographical Segmentation by Revenue Exhibit 96: Michael Kors: Business Segmentation by Revenue Exhibit 97: Michael Kors: Business segmentation by revenue 2013 and 2014 (US$ million)

32 Exhibit 98: Michael Kors: Geographical segmentation by revenue Exhibit 99: Mulberry: Business Segmentation by Revenue Exhibit 100: Mulberry: Business Segmentation by Revenue 2013 and 2014 (US$ million) Exhibit 101: Mulberry: Geographical Segmentation by Revenue Exhibit 102: PRADA: Product Segmentation by Revenue Exhibit 103: PRADA: Product segmentation by revenue 2013 and 2014 (US$ billion) Exhibit 104: PRADA: Geographical segmentation by Revenue Exhibit 105: Ralph Lauren: Business Segmentation by Revenue Exhibit 106: Ralph Lauren: Business Segmentation by Revenue (US$ billion) Exhibit 107: Ralph Lauren: Geographical Segmentation by Revenue Exhibit 108: Tory Burch: Product Segmentation Exhibit 109: Tory Burch: Geographical Presence

33 11. Other Reports in this Series Global Zero-calorie Sweetener Market Global Condom Market Global Latex Mattress Market Global Tampons Market Global Children's Wear Market Global Luggage Market Global Natural Colorant and Flavor Market Global Pet Food Market Global ZigBee Enabled Devices Market Global Wipes Market Office Furniture Market in Russia Walk-in Refrigeration Market in the US Global Diaper Market Global Diabetic Food Market Global Electronic Packaging Market Folding Carton Market in Latin America Global Fabric Conditioner Market Global Retail Ready Packaging Market Global Lubricant Market Global Household Appliance Market

34 DISCLAIMER This report has been prepared from sources and data that we believe to be reliable, but we make no representation as to its accuracy or completeness. Any decision or action taken by the recipient based on this report shall be solely and entirely at the risk of the recipient. Opinions and information provided are made as at the date of the report issue and are subject to change without notice. All trademarks and copyrights remain the sole ownership of their rightful owners/licensees. In no event shall Infiniti Research have any liability to any party for special, incidental, tort, or consequential damages arising out of or in connection with this report, even if Infiniti Research has been advised of the possibility of such damages. Copyright 2015 Infiniti Research Limited. All Rights Reserved. Reproduction without written permission is completely forbidden. ABOUT TECHNAVIO INSIGHTS TechNavio Insights is a customized set of reports based on the TechNavio platform. It builds on the intelligence available within TechNavio and leverages the custom research experience of our researchers. TechNavio is built on years of experience of Infiniti Research in deep dive custom research and consulting for over 30 Fortune 500 companies and numerous large and medium-sized companies in the technology space. For more information about TechNavio, please visit