- In February 2024, Hermès unveiled a limited-edition Birkin collection crafted from hand-painted silk and crocodile leather, aiming to captivate ultra-high-net-worth individuals. In addition, Hermès expanded its footprint in China by opening several flagship stores in key cities such as Shanghai and Beijing. This move is set to further strengthen Hermès' presence in the Asian luxury market
- In January 2024, Gucci launched a new collection composed entirely of eco-friendly materials, including recycled leather and organic fabrics, under its Circular Lines Initiative. Gucci also collaborated with Snapchat to introduce AR shopping experiences, enabling users to virtually try on handbags before purchasing. This initiative is expected to boost Gucci’s appeal among environmentally conscious and tech-savvy consumers
- In September 2023, eBay introduced its Consignment service for luxury goods, providing owners with direct access to professional sellers who list and sell their items. The service, initially focused on designer handbags, is set to expand in 2024 to include watches and jewelry. This service is likely to strengthen eBay’s position in the growing luxury resale market
- In February 2023, CITIZEN HYDE officially launched its innovative line of stylish, secure products designed for individuals on the move. The first collection featured designer bags for all genders that function such as portable safes, combining convenience, security, and sophistication. This launch is anticipated to set new trends in luxury travel accessories
- In February 2022, Louis Vuitton, a French luxury brand, began expanding its production capacity to manufacture ultra-high-end handbags, intensifying competition with Hermès USA in France. Meanwhile, Hermès USA, facing high demand, plans to open three additional production plants. This competitive expansion highlights the escalating rivalry among top luxury handbag brands
