LONDON--(BUSINESS WIRE)--The leather goods market is expected to grow by USD 55.31 billion during 2020-2024, according to Technavio. The report offers a detailed analysis of the impact of COVID-19 pandemic on the leather goods market in optimistic, probable, and pessimistic forecast scenarios.
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The leather goods market will witness Negative impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio’s pandemic-focused market research, market growth is likely to Decrease as compared to 2019.
With the continuing spread of the novel coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through response, recovery and renew phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 and crisis towards the Next Normal.
This post-pandemic business planning research will aid clients to:
- Adjust their strategic planning to move ahead once business stability kicks in.
- Build Resilience by making effective resource and investment choices for individual business units, products and service lines.
- Conceptualize scenario-based planning to mitigate future crisis situations.
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Key Considerations for Market Forecast:
- Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
- Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
- Pre- as well as post-COVID-19 market estimates
- Quarterly impact analysis and updates on market estimates
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Major Three Leather Goods Market Participants:
adidas AG operates its business under various segments such as footwear, apparel, and hardware. The company offers leather shoes.
Capri Holdings Ltd.
Capri Holdings Ltd. operates its business under three segments, which include Versace, Jimmy Choo, and Michael Kors. The company offers leather handbags, shoes, bags, and small leather goods under its brands, Michael Kors, Jimmy Choo, and Versace.
Compagnie Financière Richemont SA
Compagnie Financière Richemont SA operates its business under various segments such as jewelry maisons, specialist watchmakers, online distributors, and others. The company offers leather handbags, clutches, and small leather goods.
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Leather Goods Market 2020-2024: Segmentation
Leather goods market is segmented as below:
- North America
- South America
The leather goods market is driven by increased spend on personal goods. In addition, other factors such as increase in demand for luxury handbags made of eco-friendly materials are expected to trigger the leather goods market toward witnessing a CAGR of over 4% during the forecast period.
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- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.