Handbag, Luggage & Accessory Stores in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: August 2024
NAICS 44833Revenue
$28.5bn
Past 5-Year Growth
Profit
$X.Xbn
Employees
145k
Businesses
70,096
Wages
$X.Xbn
Handbag, Luggage & Accessory Stores in the US industry analysis
The industry includes specialty retail stores that primarily sell fashion accessories, such as handbags, costume jewelry, hats and small leather accessories. The industry also includes stores that primarily sell suitcases, backpacks and other kinds of luggage. Over the years to 2024, the industry has fared well, particularly as the number of trips, both foreign and domestic, taken by US residents exhibited strong growth in the first half of the period, driving demand for luggage items. Sharp declines in spending and travel amid the COVID-19 pandemic pressured key markets, but a surge in online shopping habits supported revenue despite the challenging conditions. Overall, revenue is expected to climb at a CAGR of 4.3% to $28.5 billion over the past five years, including an increase of 2.3% in 2024 alone.
Trends and Insights
- The industry has performed well over the past five years. Favorable changes in fashion trends have boosted sales of premium industry products, like designer leather handbags and related accessories, and demand for travel luggage picked up in line with increased travel.
- Products sold by industry stores can be divided into two broad categories. Fashion accessories includes items such as handbags, costume jewelry, belts and hats, while travel luggage includes travel bags and cases, which are mostly made of leather or durable, hard plastics.
- Like most retailing industries, this industry follows population trends. Handbag, luggage and accessory stores must be located close to metropolitan areas where consumers congregate to shop.
- New market entrants, new product offerings and higher advertising expenditure have intensified competition in the industry. Due to rising competition, retailers have had to intensify their marketing and promotional strategies to retain their customer base.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 4.3 % over the past five years, to reach an estimated $28.5bn in 2024.
Trends and Insights
Swelling demand from men has supported growth
- Over the past five years, there's been a dramatic rise in demand for men's accessories, which has positively impacted the growth of handbag, luggage and accessory stores.
- Additional trends and insights available with purchase
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Strong economic conditions will support growth
- Over the next five years, improving economic conditions are predicted to provide a significant boost to the industry.
Biggest companies in the Handbag, Luggage & Accessory Stores in the US
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Tapestry, Inc. | 2,605.0 | 437.8 | 16.8 | |
Capri Holdings Limited | 806.0 | 5.7 | 0.7 |
To view the market share and analysis for all 2 top companies in this industry, view purchase options.
Products & Services Segmentation
Handbag, Luggage & Accessory Stores in the US
Products & Services
Industry revenue is measured across several distinct product and services lines, including Men's accessories, Women's accessories and Costume and novelty jewelry. Men's accessories is the largest segment of the Handbag, Luggage & Accessory Stores in the US.
Trends and Insights
Handbags make up most of women's accessories revenue
- Products in this segment include handbags. wallets, neckwear, leather money organizers and sunglasses.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Jewelry Stores in the US
- Department Stores in the US
- Used Goods Stores in the US
- E-Commerce & Online Auctions in the US
Complementors
- Lingerie, Swimwear & Bridal Stores in the US
- Shoe Stores in the US
- Leather Good & Luggage Manufacturing in the US
- Clothing & Clothing Accessories Wholesaling in the US
International industries
- Handbag, Luggage & Accessory Stores in Canada
- Personal Accessory Retailing in Australia
- Clothing Retailing in the UK
- Clothing Retailing in Ireland
Table of Contents
About this industry
Industry definition
This industry includes specialty retailers that primarily sell handbags, luggage, costume jewelry and clothing accessories, like hats, wallets and neckwear. Stores in this industry may also sell apparel or footwear, but sales from these products are not included in the industry.
What's included in this industry?
Men's accessories Women's accessoriesCostume and novelty jewelry Luggage and leather goodsOther clothing accessoriesCompanies
Tapestry, Inc.Capri Holdings LimitedPurchase this report to view all 2 major companies in this industry.
Related Terms
BABY BOOMERSGENERATION XGENERATION YOUTSOURCINGLIPSTICK EFFECTASPIRATIONAL SHOPPERIndustry Code
NAICS 448150 - Handbag, Luggage & Accessory Stores in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
The industry has performed well over the past five years. Favorable changes in fashion trends have boosted sales of premium industry products, like designer leather handbags ...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Products sold by industry stores can be divided into two broad categories. Fashion accessories includes items such as handbags, costume jewelry, belts and hats, while travel ...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Like most retailing industries, this industry follows population trends. Handbag, luggage and accessory stores must be located close to metropolitan areas where consumers con...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
New market entrants, new product offerings and higher advertising expenditure have intensified competition in the industry. Due to rising competition, retailers have had to i...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Tapestry is a public company headquartered in New York. The company has a notable market share in the industry.
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Tapestry, Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Capri Holdings Limited's performance by revenue, market share and profit margin from 2018 through 2024
Detailed analysis
- Description and key data for Tapestry, Inc., and factors influencing its performance in the industry
- Description and key data for Capri Holdings Limited, and factors influencing its performance in the industry
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
The industry doesn't receive any major government subsidies or grants. Tariffs are not specifically relevant to this industry, since they apply at the manufacturing level.
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Costs and profit vary between handbag, luggage and accessory stores. Depending on their size, supply chain integration and target market, stores have different purchasing and...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Handbag, Luggage & Accessory Stores in the US industry in United States in 2024?
The market size of the Handbag, Luggage & Accessory Stores in the US industry in United States is $28.5bn in 2024.
How many businesses are there in the Handbag, Luggage & Accessory Stores in the US industry in 2024?
There are 70,096 businesses in the Handbag, Luggage & Accessory Stores in the US industry in United States, which has grown at a CAGR of 7.4 % between 2019 and 2024.
Has the Handbag, Luggage & Accessory Stores in the US industry in United States grown or declined over the past 5 years?
The market size of the Handbag, Luggage & Accessory Stores in the US industry in United States has been growing at a CAGR of 4.3 % between 2019 and 2024.
What is the forecast growth of the Handbag, Luggage & Accessory Stores in the US industry in United States over the next 5 years?
Over the next five years, the Handbag, Luggage & Accessory Stores in the US industry in United States is expected to grow.
What are the biggest companies in the Handbag, Luggage & Accessory Stores in the US market in United States?
The biggest companies operating in the Handbag, Luggage & Accessory Stores market in United States are Tapestry, Inc. and Capri Holdings Limited
What does the Handbag, Luggage & Accessory Stores in the US in United States include?
Men's accessories and Women's accessories are part of the Handbag, Luggage & Accessory Stores in the US industry.
Which companies have the highest market share in the Handbag, Luggage & Accessory Stores in the US in United States?
The company holding the most market share in United States is Tapestry, Inc..
How competitive is the Handbag, Luggage & Accessory Stores in the US industry in United States?
The level of competition is moderate and increasing in the Handbag, Luggage & Accessory Stores in the US industry in United States.
