About handbags market in South Korea Handbags, including satchels, totes, and wallets, are among the most desirable and popular fashion accessories for men and women and have become status symbols. Consequently, the demand for luxury and premium handbags is growing. Various handbag companies are adopting innovative strategies to adapt to changing consumer demographics and preferences, such as the rising demand for eco-friendly handbags. Also, the launch of designer bags exclusively for men is gaining attention in the market. Economic development in South Korea has led to increased disposable incomes as well as purchasing power of consumers, which has influenced the demand for expensive and premium handbag brands.
Technavio's analysts forecast the handbags market in South Korea to grow at a steady CAGR of 3.42% by revenue and 2.95% by volume during 2014-2019.
Covered in this report The handbags market in South Korea can be segmented into four segments: shoulder bags, wallets, totes, and satchel and saddle bags. The totes segment was the largest segment in terms of revenue accounting for 29.90% of the market share, whereas in terms of volume, the wallets segment dominated the market accounting for a share of 29.79%.
Technavio's report, Handbags Market in South Korea 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. It also covers the market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors • Burberry Group • Chanel • Christian Dior (Couture) • Coach • Gucci • Kate Spade • LVMH Moët Hennessy
Other prominent vendors • Anne Klein • BRIC’s • DIMA • ELJAY • Fossil • Giosis Group • Kangol • Kipling • Maiden Voyage Australia • Modmoa • Sisley • SSAMZIE • The BNG • Vogatha • Welovebag • Young
Market driver • High demand for foreign brands • For a full, detailed list, view our report
Market challenge • Increased competition from counterfeits • For a full, detailed list, view our report
Market trend • Product differentiation • For a full, detailed list, view our report
Key questions answered in this report • What will the market size be in 2019 and what will the growth rate be? • What are the 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 the key vendors? • What are the strengths and weaknesses of the key vendors?