Women's handbags in the U.S. – additional information
The global luxury goods industry – which includes cosmetics, fragrances, watches, jewelry, luggage, and women’s handbags to name a few – has been one of the major pillars of the luxury industry for years. This industry is the second most valuable luxury market, only behind luxury cars. In 2016, the global market for personal luxury goods was valued at around 250 billion euros. The United States is, by far, the most valuable personal luxury goods market in the world. In 2015, the American luxury goods market was valued at almost 79 billion euros. In comparison, the second largest luxury goods market in the world is Japan, valued at 20 billion euros.
Accessories are amongst the most important segments in the luxury goods industry, as they held about 30 percent of the global luxury goods market share in 2016. In the U.S., the women’s accessories market has been fairly profitable in the last few years. Since 2012, sales of women’s accessories have been generating around 30 billion U.S. dollars in revenues each year. Within the U.S. accessories market, handbags and purses are one of the most important products. Brands such as Chanel, Gucci, Louis Vuitton, Hermès, and Michael Kors are some of the leading players in the handbag market throughout the United States. Only the sale of women’s jewelry was more profitable than handbags in 2017.