The New Era of Designer Bags

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WHAT YOU NEED TO KNOW TODAY: WEDNESDAY, JULY 20, 2022 Dear BoF Community, There may be signs of an economic downturn on the horizon, but people still want their designer bags. The latest BoF Insights report, The New Era of Designer Bags: Redefining Leather Goods, released today, finds that 50 percent of Chinese consumers and 40 percent of US consumers have recently bought, or play to buy soon, in this category. Global sales are set to grow from $72 billion in 2022 to $100 billion by 2027 with growth in China and the US outpacing pre-pandemic years. The report — the first in a series of category-focused analyses from the BoF Insights team — reveals how brands and retailers should refine their strategies to prepare for the next chapter in designer bags and small leather goods. BoF Insights interviewed industry experts from around the world as well as surveyed the general population and a panel of high-net-worth individuals in the US and China, exploring how this category is evolving given increasing prices, the rise of resale and rental, and disruptive new entrants. Download The New Era of Designer Bags: Redefining Leather Goods. Imran Amed, Founder and CEO

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LUXURY The New Era of Designer Bags: Redefining Leather Goods Report | BoF Insights By Benjamin Schneider and Diana Lee Read the latest BoF Insights report to get BoF's perspective on designer bags and small leather goods, covering key competitive shifts, including what, why and how consumers buy in the US and China, the category's biggest markets. READ MORE

CHINA Luxury's Outlook in China Is Increasingly Uncertain By Tamison O'Connor The long-term fundamentals of the all-important China market remain strong but short-term headwinds mean luxury brands could face a challenging year ahead. READ MORE

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