31 Oct '16, 11am

Handbag Brands Reduce Product Lines as Luxury Demand Wanes

Handbag Brands Reduce Product Lines as Luxury Demand Wanes

NEW YORK, United States — The handbag industry, rocked by slowing department-store traffic and a shift away from purses by millennials, has a new mantra this holiday season: Do more with less. Luxury retailers such as Nordstrom Inc., Bloomingdale’s and Barneys New York are introducing far fewer styles of handbags this year as the critical Christmas season approaches. And the pressure on the industry has fuelled speculation that companies like Coach Inc. and Michael Kors Holdings Ltd. should find merger partners rather than fight it out alone. Retailers are increasingly opting to differentiate themselves from competitors by introducing fewer new lines rather than swamping shoppers with too many choices, said Katie Smith, senior fashion analyst at Edited, a data-analytics company for the fashion industry. “Reducing the number of products, making sure they are choosing their ...

Full article: https://www.businessoffashion.com/articles/news-analysis/...

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