27 Sep '16, 9am

Leather goods market bound for $258.4B by 2020

Leather goods market bound for $258.4B by 2020

Leather goods remain a lucrative product category with an upward trajectory that is expected to continue at compound annual growth rate of more than 4 percent through 2020, according to a report by Technavio. As the primary pillar of many luxury houses, the leather goods market is expected to reach $258.4 billion by decade’s end. Technavio’s “Global Leather Goods Market 2016-2020 ” report analyzes the market in terms of revenue and emerging trends, as the demand for luxury goods is interconnected with the sale of leather products such as footwear and accessories. Leather love A driver of leather goods is the durability of its material. For high-ticket items such as luxury handbags, the assurance of quality and long-lasting durability is appealing to consumers. By product, Technavio found that in 2015, footwear lead the leather goods category at 58.35 percent of purchases. ...

Full article: https://www.luxurydaily.com/leather-goods-market-bound-fo...

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