Editor’s Let­ter

Shoes & Accessories - - Editor’s Letter - AMITABH TANEJA Editor-in-chief

With de­signer hand­bags and ac­ces­sories com­mand­ing thou­sands of dol­lars, the hand­bags in­dus­try is ex­pe­ri­enc­ing a boom. To­day de­sign­ers are in­clud­ing hand­bags in their col­lec­tions. The use of hand­bags is pre­dom­i­nant with women, and a rise in the woman work­force over the years has boosted its growth sig­nif­i­cantly over the years. Re­cently, the mar­ket ex­pe­ri­enced a shift from big­ger totes to smaller, and brands are more will­ing to di­ver­sify their prod­uct lines. It is be­lieved that the fash­ion in­dus­try is re­ported to have a di­rect im­pact on the lat­est col­lec­tions of hand­bags that are launched as they are to com­ple­ment one other.

Ev­i­dently, VIP’S Cap­rese re­port­edly has crossed Rs 100 crore in sales on new de­signs and a value for money propo­si­tion. Since its launch it has launched a premium line of hand­bags co-cre­ated. With cam­paigns, ad­vanced tech gu­rus as­so­ci­at­ing with brands and vast mar­ket­ing gim­micks, Bag­git has held the cus­tomer’s at­ten­tion. The lat­ter’s founder as­serts that the brand is con­sis­tently com­ing up ideas to in­crease reach, spread aware­ness and pro­vide con­sumers with stand­out premium prod­ucts with var­ied ranges. In In­dia, the Hand­bags mar­ket in In­dia can be seg­mented into totes, shoul­der bags, purses and wal­lets, satchels and sad­dles. Purses and wal­lets are re­port­edly the largest seg­ment in terms of both rev­enue and vol­ume, ac­count­ing for 34.8% and 35.4% share of the mar­ket.

Over the past few years, brands such as Michael Kors, Calvin Klein, and Kate Spade have all set up shops in big cities, pro­vid­ing con­sumers with the af­ford­able lux­ury styles they could pre­vi­ously only pick up in the West. As a re­sult, this seg­ment of In­dia’s re­tail in­dus­try is boom­ing. In this is­sue, we have in­ter­acted with some of the dis­tinct and up­com­ing brands to give you a greater view of the chang­ing land­scape.

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