Press release
India Luggage and Bags Market is Driven by Expected Surge in the Organized Sector Revenue & Investment towards Smart Luggage with Growing Tech-Savvy Travellers: Ken Research
Backpacks and handbags segment is estimated to grow in future along with six year forecasted revenue CAGR of 11.9% and 12.2% respectively during 2019-2025; especially in the unorganized segment. The price difference between a local dealer and showroom purchase was observed to be between 15-30%.
Weakening of INR against USD continues to put pressure on margins and profitability of luggage and bag manufacturers in India thus; resulting into cost optimization and increase in consumer prices.
Efficiency in Manufacturing and Procurement to provide Competitive Advantage: Rising proportion of captive manufacturing from Bangladesh will increase efficiency in production while scale advantage that comes in bulk from China sourcing is expected to provide a huge competitive advantage. For instance, VIP Industries manufacturing unit capacities have been managed in Indian facilities for hard luggage and in Bangladesh facilities for soft luggage. largely procures quality products (especially in soft luggage product category) from China and sells it under Safari. On the other hand, hard-luggage are manufactured in-house i.e. within Indian plants.
With increase in per capita income, people have started upgraded from unbranded to branded luggage products in India. Moreover, organized players have been positive as they continue to introduce newer product variants, offer lifetime warranty and other guarantees, better after sales services and others. Consumers are increasingly shopping through modern retail trade channels including malls, hypermarkets and E-com where branded players have high presence. The trend is expected to grow over long term.
The report titled "India Luggage and Bags Market Outlook to 2025- Growth in Outbound & Domestic Tourists Coupled with Inclination Towards Branded Luggage Supporting Market Growth)" by Ken Research suggested that the luggage and bags market is further expected to grow in future majorly due to product distribution via online portals, fragmented space and investment in smart luggage product segment. The market is expected to register a positive six year CAGR of 10.3% and 10.2% in terms of revenue and sales volume respectively during the forecast period 2019P-2025F.
For More Information on the research report, refer to below link:-
https://www.kenresearch.com/consumer-products-and-retail/luxury-goods/india-luggage-and-bags-market-outlook/321670-95.html
Key Segments Covered:-
Market Structure
Unorganized Market
Organized Market
Product Type
Bags
Handbags
Backpacks
Duffel Bags
Wallet and Coin Pouches
Cross Body Bags
Business Bags
Other Small Bags (Jute Bags, Bags for Daily Usage and Bags for Small Purpose)
Luggage
Soft Luggage
Hard Luggage
Wheeled Luggage
Non-Wheeled Luggage
Price Category
Luggage Price Category (Mass Segment, Premium Segment and Luxury Segment)
Handbag Price Category (Mass Segment, Premium Segment and Luxury Segment)
Backpack Price Category (Mass Segment, Premium Segment and Luxury Segment)
Duffel Bag Price Category (Mass Segment, Premium Segment and Luxury Segment)
Region
North
Delhi
Ghaziabad
Uttarakhand
Other Northern Cities
South
Bangalore
Hyderabad
Cochin
Other Southern Cities
East
Kolkata
Patna
Cuttak Orissa
Other Eastern Cities
West
Mumbai
Ahamdabad
Indore
Other Southern Cities
Distribution Channel:-
Bags and Luggage Specialist Retailers
Hypermarkets
Internet Retailing
Department Stores
Apparel and Footwear Specialist Retailers
Stationers / Office Supply Stores
Other Non-Grocery Specialists
Homeshopping
Key Target Audience:-
Luggage Manufacturers
Bags Manufacturer
Retailers and Distributors
Time Period Captured in the Report:-
Historical Period: 2013-2019P
Forecast Period: 2019P-2025F
Companies Covered:-
VIP Industries Ltd
Samsonite International SA
Safari
LVMH Moet Hennessy Louis Vuitton SA
Wildcraft India Pvt Ltd
Hermes International SCA
Kering SA
Hidesign India Pvt Ltd
Da Milano India
Baggit Ltd
Burberry Group Plc
Bagzone Lifestyles Pvt Ltd
Tommy Hilfiger
Others (Salvatore Ferragamo SpA, Khadimm India Ltd, Leather Line, Richemont SA, Cie Financiere, Adidas Group, PPR SA, Titan Industries Ltd, Shoppers Stop Ltd, VF Corp, Harrisons Worldwide Pvt Ltd, Case Logic Inc, Giordano International Ltd and Rest)
Key Topics Covered in the Report:-
India Luggage and Bags Market Introduction
India Luggage and Bags Market Size, 2013-2019P
India Luggage and Bags Market Segmentation, 2013-2019P
Snapshot on India Online Luggage and Bags Market
Porter Five Forces Analysis on India Luggage and Bags Market
Trends and Developments in India Luggage and Bags Market
Pest Analysis on India Luggage and Bags Market
Regulatory Landscape in India Luggage and Bags Market
Customer Profiling for India Luggage and Bags Market
Consumer's Decision Making Parameters and Buying Behavior in India Luggage and Bags Market
Issues and Challenges in India Luggage and Bags Market
Comparative Landscape in India Luggage and Bags Market
India Luggage and Bags Market Future Outlook and Projections, 2019P-2025F
Analyst Recommendations for India Luggage and Bags Market
Related Reports:-
https://www.kenresearch.com/consumer-products-and-retail/luxury-goods/philippines-luggage-and-bags-market/254589-95.html
https://www.kenresearch.com/consumer-products-and-retail/luxury-goods/saudi-arabia-bags-and-luggage-market-outlook/235747-95.html
https://www.kenresearch.com/consumer-products-and-retail/luxury-goods/us-smart-wearable-devices-market/142266-95.html
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
Ken Research Pvt. Ltd.,
Unit 14, Tower B3, Spaze I Tech Business Park, Sohna Road, sector 49 Gurgaon, Haryana - 122001, India
Ken Research is a Global aggregator and publisher of Market intelligence, equity and economy reports. Ken Research provides business intelligence and operational advisory in 300+ verticals underscoring disruptive technologies, emerging business models with precedent analysis and success case studies. Serving over 70% of fortune 500 companies globally, some of top consulting companies and Market leaders seek Ken Research's intelligence to identify new revenue streams, customer/ vendor paradigm and pain points and due diligence on competition.
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