About IT Handbags
Handbags Market in Russia is witnessing steady growth, and it is expected to post a CAGR of around 6 percent during the forecast period. The launch of various innovative handbags and growing number of retail outlet stores in Russia is fueling the growth of this market.
A reviving Russian economy is the driving force of the demand for handbags. It has increased the market's growth in terms of both revenue and volume. This demand for affordable luxury brands is driving high consumption and sales of handbags in Russia.
To calculate the market size, analysts have considered revenue generated from the retail sales of handbags including wallets and purses in terms of revenues and volumes.
The report also presents the vendor landscape and a corresponding detailed analysis of the top 10 major vendors in the market.
Top Companies in the Handbags Market in Russia:
Some other prominent vendors in the market include, Adidas, Aldo, Alfred Dunhill, Aspinal of London, Boconi, Bottega Veneta, Buggatti, C & J Clark, Cambridge British Satchel, Crew Clothing, Dolce & Gabbana, DKNY, Ferrari, Fossil, French Connection, Gianni Versace, Goyard, Guess, Gerard Darel, Iconix Brand Group, Calabrese, Jerome Dreyfuss, Kenneth Cole Productions, L.Credi, La Petite Mendigote, Lipault Paris, Longchamp, Lulu Guinness, Mandarina Duck, McKlein, New Look Retailers, Nicole Lee, Paul Costelloe, Paul Smith, PUIG, Puma, Ralph Lauren, River Island, Russell & Bromley, Smythson, TLG Brands, Vanessa Bruno AND VF.
The report discusses Luxury products and Luggage industry, especially the Handbags market. It outlines rapidly changing consumer demands and preferences in Russia. It showcases detailed company profiles and an in-depth study of the performance of the Handbags Market in Russia. It is a market that is impacted by changing consumer spending patterns along with regional, national, and local economic conditions, and demographic trends.
Factors Affecting the Handbags Market in Russia:
Russia is among the growing BRIC nations; however, the Russian economy is still in turmoil on account of the Ukraine revolution, fall in oil and gas prices, and the tumbling Ruble. All these factors have contributed to a slowdown in the economy.
Despite these challenges, the demand for handbags is expected to continue because Russian consumers love shopping and are very attached to the notion of luxury and fashionable products. However, in the long run, if the Ruble continues to decline, it will affect the demand for luxury good products including handbags.
The research report presents an overview of the Russian Federation in comparison with other top markets in Europe. The report also outlines the economic performance of Russia compared with other BRIC Nations.
Market Overview of the Luxury and Retail Sector in Russia:
The retail sector in Russia that includes luxury goods and handbags is dominated by organized retail which accounts for more than half of the market.
However, unorganized distribution also contributes significantly to the Handbags market. While the contribution of the organized sector in Russia is less compared to that of the US, it is still more than that of BRIC nations such as Brazil, China, and India.
Scanning the overall retail scenario in Russia, the findings of the report indicate that the utility feature of handbags is no longer the only key buying criterion in this market. Handbags are expected to scale up their popularity in the Lifestyle and Fashion segments of the market in Russia for the forecast period.
The report includes a study of some of the top handbag brands in Russian retail, giving an overview of their revenues, sales growth, net sales, revenues by segment, as well as geography.
Other Sections Include an Analysis on the Following:
Top three Drivers and Impact on the Handbags Market in Russia
Top three Challenges and Impact on the Handbags Market in Russia
Top three Trends and Impact on the Handbags Market in Russia
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