In the Bag
Purses and small leather items occupy a unique position in the retail market. A the latest report by The Business enterprise of Style, which EDITED was thrilled to deliver information perception on, has underlined this.
In accordance to their the latest enterprise reports, 50% of Prada sales and as substantial as 72% of Bottega Veneta sales are attributed to handbag and compact leather products purchases.
Diana Lee, the Director of Analysis and Evaluation at The Small business of Fashion, was instrumental in providing the new period of designer luggage report from BOF Insights.
She sat down with Grace in London to explore how the report arrived about and what the essential takeaways are for merchants and brands who at the moment occupy the luxury space, as well as the challenger models that aspire to get there.
Purses are a correct hero class but most importantly are often 1 the most recognizable techniques for consumers to showcase the models that they really like. And in numerous methods, it really is the true democratization of fashion, supplying a wardrobe staple that transcends physique, trend knowledge or model choices.
“In our study results, we ended up very stunned to see that the panel of large-web-really worth men and women, only 40% had agreed that the price tag improves had been basically sizeable. So, that could imply that there’s nonetheless this willingness to pay that can keep on to be extracted, but of class, a manufacturer has to walk a very high-quality line due to the fact you you should not want to anger a good deal of your faithful buyers at the very same time.”
Come across out more about the report and all the remarkable changes in the handbag market by clicking on this connection.
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