Luggage consists of bags, cases, and containers, which use to store or carry the goods. People use luggage generally during transportation. Growing travel industry further increases the demand of various luggages. Some of examples of luggage products are wheeled luggage, duffel bags, tote bags, garment bags and suitcase. Leather goods consist of many product made of animal skin. Some of the example of leather goods are purse, pouches, women hand bags, belts, jackets, gloves and shoe.
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Increasing per capita income, growing consumer affluence, growth in tourism industry are some of the key reason, which drive the growth of luggage and leather goods market. Changing fashion trends and increasing the consumer awareness level about many luxury products further boost the demand of leather goods in the market. Women prefer designer handbags, laptop bags and travelling bags as their fashion symbol. Regular innovation and changing design model of various luggage and luxury product leads to trigger the luggage and leather goods market across the globe. Bags, wallet and purse contribute the major share in global sale of leather goods.
Changing regulation on cabin luggage on aircraft and increasing common practice of weight based charging system creates consumer awareness about various size and lightweight luggage bags. As a result, manufactures are more focuses on manufacturing lightweight and verities of handbag luggage. Due to presence of organized and un- organized players, the luggage and leather goods market is highly competitive.
North America is the largest market of luggage and leather goods. In Asia Pacific region China, India and Japan holds the largest luggage and luxury goods market. Rising economy and growing travel and tourism industry further boost the market. Europe is also one of the prominent markets for luggage and leather goods after Asia Pacific. Growing fashion trends further increase the demand of various leather products in European market.
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Some of the major companies operating in global luggage and leather goods market are Isetan Mitsukoshi Holdings, J. C. Penney Company, Inc., Sears Holdings Corporation, LVMH Moet Hennessy Louis Vuitton , Hermes International SCA, Kering SA, Prada S.p.A, Coach Inc, Samsonite Corporation, Vera Bradley Incorporated, Marks and Spencer Group plc, Goldkrone Lederwaren-Handelsgesellschaft mbH and Dapai International Holdings.