Market Share of Luggage Industry
The luggage market is highly competitive, with key players competing for a significant global market share and regional players catering to domestic customer demands. Some of the major players in the market are LVMH, Kering, Chanel Limited, Hermes International SA, and Tapestry Inc. The key strategies adopted by players in the market include product launches with innovative designs, followed by mergers and acquisitions. Expansion is another crucial strategy that gives manufacturers an edge to expand their global consumer base. Partnerships are also preferred by companies to strengthen their market dominance. Through this strategy, they can further focus on constantly leveraging their product portfolio to increase their market presence locally.
Luggage Market Leaders
LVMH Moët Hennessy Louis Vuitton
Kering
Chanel Limited
Hermes International SA
Tapestry Inc
*Disclaimer: Major Players sorted in no particular order
