- In January 2021, as part of its broader sustainability initiative, Adidas AG announced the launch of a new line of trainers crafted from mushroom-based leather, also known as mycelium. This innovative material is part of the company’s commitment to reducing its environmental footprint and promoting the use of eco-friendly alternatives to traditional leather
- In August 2020, PUMA SE unveiled the first three models of its Xetic sneaker line in collaboration with Porsche Design, combining innovation, sustainability, and performance. The collection features materials such as 100% chrome-free leather, 30% algae-based lining, and 100% recycled mesh fabric, demonstrating the brand's commitment to sustainable manufacturing while maintaining high-performance standards suitable for both athletic and casual wear
- In October 2022, LVMH strengthened its foothold in Italy by inaugurating new production facilities for Fendi and Bulgari. Despite rising operational costs, LVMH continues to make substantial investments in enhancing its Italian production capabilities, underscoring the brand's commitment to maintaining high-quality craftsmanship and operational excellence.
- In October 2022, Prada, the renowned luxury fashion brand, inaugurated a new factory near Sibiu, Romania, dedicated to the production of leather goods components. The facility, operated by Hipic Prod Impex, now part of the Prada group, spans 31,000 square feet in the Sibiu West Industrial Zone. This expansion highlights Prada's strategic investment in enhancing its production capabilities for leather products, reinforcing its commitment to craftsmanship and quality in the global luxury goods market
- In April 2022: Tapestry, Inc., the New York-based luxury accessories and lifestyle brand house behind Coach, Kate Spade, and Stuart Weitzman, announced a partnership with the World Wildlife Fund (WWF) in conjunction with a USD 3 million philanthropic grant from the Tapestry Foundation, which focuses on promoting social and environmental justice. This partnership underscores Tapestry, Inc.'s commitment to sustainability and ethical sourcing in the global leather goods market
Frequently Asked Questions
One prominent trend in the global leather luggage and goods market is the increasing demand for sustainable and eco-friendly products.
The growing demand for high-quality, luxury leather luggage and goods is significantly driving market growth. Consumers are increasingly seeking premium, durable, and stylish products, fueling the demand for top-tier leather items.
The high production costs of leather luggage and goods, driven by the premium materials required and labor-intensive manufacturing processes, pose a significant challenge for the market.
The footwear segment is expected to dominate the global leather luggage and goods market holding a largest market share of 39.4%, due to increasing consumer demand for leather athletic footwear from brands like Nike, Adidas, and Puma.
North America is expected to witness the highest compound annual growth rate in the leather luggage and goods market during the forecast period, propelled by increasing consumer preference for high-end lifestyle products and luxury fashion accessories.
