"Bags and Luggage in Italy" is now available at Fast Market Research

Limited purchasing power was a significant barrier to the better performance of bags and luggage in 2015. However, the category overall decreased by only 1% in current value terms; sales were in fact somewhat supported by demand from wealthy tourists who visited the capital and purchased luxury and high added-value products. Almost 30% of luxury Italian products were bought by Russians in 2014 and 2015, followed by Chinese, Japanese and Koreans. In addition, the new lifestyle of urban citizens, who are moving around more and travelling further, was an important driver behind the sustained domestic sales in specific categories.

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Competitive Landscape

Bags and luggage was led by Prada with a 15% value share in 2014. This brand offers a large range of luxury bags and enjoys strong brand loyalty and recognition thanks to its high-quality products, and especially brand heritage. Its value share also continued to increase in 2014, due to continuous innovation, both in terms of designs and pioneering new trends; for example with the "Prada Inside Bag" solution, a bag within a bag. This is an extravagant, unusual solution that combines tradition with originality in production processes, specialising in environmentally-friendly solutions and materials. The second placed company Guccio Gucci also focused on the ecological impact of its products, with the launch of the bamboo bag, the production of which follows a process that minimises the impact of tanning on the environment.

Industry Prospects

There is optimism regarding the evolution of bags and luggage over the forecast period. The Italian economy is expected to recover slowly, thus boosting domestic sales. Visits by wealthy foreign tourists should help to sustain growth, in particular of luxury brands, during this period. In the meantime, manufacturers are expected to continue to invest in product innovation and advertising to encourage consumers to purchase their latest novelties.

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