The Luggage & Leather Goods segment in China registered Market value of USD 6,306.06 Millions in 2023
The indicator recorded a historical growth (CAGR) of 12% between 2020 to 2023, and is expected to grow by...
GlobalData projects the indicator to grow at a CAGR of...
The Market value of Luggage & Leather Goods Segment in China (2018 - 2026, USD Millions)
Luggage & Leather Goods Segment in China
The luggage and leather goods market values the total sales of bags, wallets & purses, and luggage. Bags, wallets & purses include briefcases, handbags, wallets, and purses. Luggage includes suitcases and travel bags.
The Chinese luggage and leather goods market has been growing strongly in recent years. Stable growth is expected for the forecast period. Clothing, footwear, sportswear & accessories retailers accounted for the largest proportion of sales in the Chinese luggage & leather goods market. The bags, wallets and purses segment was the market's most lucrative, contributing the largest share in the Chinese market.
Category segmentation
The luggage & leather goods segment is categorized into two major segments - Luggage and Bags, wallets and purses. Bags, wallets and purses are the largest segments of the luggage and leather goods market in China.
Competitive landscape
The Chinese luggage and leather goods market is highly fragmented, with retailers ranging from department stores to more specialized clothing and accessories retailers with 'other' retailers accounting for almost a quarter of sales in this market. Larger players, such as department stores, benefit from scale economies that allow them to negotiate better deals with suppliers and compete more heavily on price. Furthermore, larger retailers tend to sell a multitude of products and, as such, are not solely reliant on revenues generated through the luggage & leather goods market, whereas less diverse retailers face greater competition to obtain and retain buyers.
Market distribution
Clothing, footwear, accessories retailers form the leading distribution channel in the Chinese luggage and leather goods market.
Who are the leading players?
Alibaba Group Holding Limited (Alibaba) is an online and mobile commerce company that operates its ecosystem as a platform for third parties. The company primarily provides technology and services to enable consumers, merchants, and other participants to conduct commerce in its ecosystem.
Dashang Group Co., Ltd.
Dashang Group Co., Ltd., established in 1995, is engaged in the retailing business in China. The company operates a chain of department stores, supermarkets, and household electrical appliance stores. Its stores offer men's and women's apparel, cosmetics, jewelry, watches and clocks, shoes, underwear, bags, household products, household electrical appliances, drinks, food products, fruits, and others.
JD.com is a privately-held online direct sales company that is engaged in the online retail business. It operates through a network of seven fulfillment centers, 86 warehouses, 1,420 delivery stations and 214 pickup stations located across 495 cities in China.
Vipshop is an online retailer of discounted branded merchandise in China. The company operates a series of flash sales of branded products on its websites. The flash sale retail model means that consumers can buy branded products at a discount price. Products include apparel for men, women, and children, fashion accessories, homewares, cosmetics, sportswear, sports accessories, footwear, luxury goods, and gift.
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