London store checks revealed a new trend in luxury handbags: constructed shapes and a move away from the loose soft bag that has saturated the market for the last several seasons. First spied at Louis Vuitton (MC:PA), and further validated at Celine and Dior, this trend creates newness in the category. Characterized by smaller sizes (and more accessible price points to match) we’re expecting this trend create a reason to shop in the category. Featured in bright colors, and new textures and embellishments, shoppers will see this as an exciting change, and the trend represents something she does not already have in her wardrobe.
We’re also watching the aspirational handbag space—and there may be cause for concern as it may take time for these brands to catch this wave. We’re seeing higher price points for these brands, slowing growth rates (down to single digits) and more competition from true luxury brands with smaller bags and accessible price points. With such little newness from aspirational brands, shoppers may stay away, unlike the past several seasons, opting for exciting constructed shapes from luxury marquees. It is going to be an interesting season at counter.
Mary Epner Retail Analysis will be reporting on this trend from across the U.S. retail, e-commerce and social channels as well as the impact overseas. To learn more about our coverage and insights into the retail market, please reach out and contact us.
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