According to Technavio, the global leather handbags market size is estimated to grow by USD 8.5 billion from 2022 to 2027. The market is estimated to grow at a CAGR of 4.84%. Moreover, the growth momentum will accelerate. APAC (North America, Europe, South America, and Middle East and Africa) will account for 32% of the market's growth during the forecast period.
LVMH (LVMH.PA), the world's largest luxury goods group, plans a new factory in Italy producing Louis Vuitton bags and other leather accessories, the Tuscany region said on Friday. (Source: Reuters)
The latest data in the CNBC Supply Chain Heat Map shows China is losing more manufacturing to Vietnam, Malaysia, Bangladesh, India, and Taiwan. Exports in furniture, apparel, footwear, travel goods and handbags, minerals, and science and technology are all declining. China’s ‘Zero Covid’ policy is a big factor, with Port of Ningbo, the world’s largest port, the latest to be impacted. [China, 'factory of the world,' is losing its manufacturing ... - CNBC]
Due to the unexpected factors such as international geopolitical conflicts and the repeated epidemics that increased the challenge to China leather industry, the development of the industry has become more pressure and severe, and the adverse impact has increased significantly, the growth of revenue and profit was getting slow down, according to the latest report released by CLIA.
India’s deep-rooted jute industry has struggled for decades, undercut by cheaper synthetics. Now its bags are becoming famous as an environmentally friendly product The recognition of the @nytimes in this report by Sameer Yasir. [That Reusable Trader Joe’s Bag? It’s Rescuing an Indian Industry – NYT]
The Executive Committee of the IULTCS is pleased to announce the 2023 grants to be awarded to three young scientists, under the age of 35, for research projects in the categories: Basic Leather Research, Machinery / Testing and Sustainability / Environment – to be conducted at a recognised institution in 2023. Details of the eligibility requirements are available on the IULTCS website YSLG_application_rules_and_procedure_2023.pdf (iultcs.org)
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