NEW YORK, Jan. 18, 2022 /PRNewswire/ -- The latest report by Technavio on the handbags market in India infers that the expansion of the retail and online distribution landscape is driving this market's growth, resulting in market growth of USD 207.51 million from 2020 to 2025.
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The market structure is expected to remain fragmented during the forecast period. Vendors are deploying growth strategies such as product innovation to compete in the market.
Baggit, Capri Holdings Ltd., Da Milano Leathers Pvt. Ltd., H & M Hennes & Mauritz AB, Hidesign, Kering SA, Lavie, LVMH Moet Hennessy - Louis Vuitton, The House of Tara, and VIP Industries Ltd. among others are some of the few key vendors competing to maintain their market position in the market.
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Key Market Segmentation
Handbags Market In India: Product Landscape:
Handbags Market In India: Distribution Channel Landscape:
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Latest Trends and Drivers in the Handbags Market in India
Vendors are increasing their production and distribution across India. Distributors play an important role in the supply chain of several consumer goods, including handbags. The retail landscape is evolving across the world, with changes in consumer purchasing behavior and buying practices. The purchasing preference of consumers is shifting from conventional stores to online channels. The increasing Internet connectivity and the growing adoption of smartphones further support the online retailing of handbags in India. These factors will drive the sales of handbags through online retail channels in India during the forecast period.
Many global and local vendors in the handbags market in India are adopting marketing strategies such as product endorsement to increase their sales. Celebrity endorsements help vendors in gaining the attention of customers and improving the popularity of their products. This, in turn, is expected to fuel the sales of handbags among consumers across the country. In addition, celebrity endorsements help in developing and strengthening the trust of customers in the quality of products offered by their brands. This, in turn, is expected to foster the growth of the handbag market in India during the forecast period.
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Handbags Market In India Scope
Growth momentum & CAGR
Accelerate at a CAGR of 5%
Market growth 2021-2025
USD 207.51 million
YoY growth (%)
Leading companies, competitive strategies, consumer engagement scope
Baggit, Capri Holdings Ltd., Da Milano Leathers Pvt. Ltd., H & M Hennes & Mauritz AB, Hidesign, Kering SA, Lavie, LVMH Moet Hennessy - Louis Vuitton, The House of Tara, and VIP Industries Ltd.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period,
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