Agenda-setting intelligence, analysis and advice for the global fashion community.
Created by BoF’s journalists and editors, in conjunction with our wider network of leading fashion creatives, thought-leaders, and innovators, Masterclasses are in-depth webinars with supporting resources, designed to deliver key learning outcomes on critical industry topics.
Designer bags and small leather goods are crucial to fashion brands. They can serve as a label’s most recognisable emblem, indicate a wearer’s desired social standing and values and drive revenue for fashion businesses. And they’re set to become even more important: global consumer spending in the category is set to grow to an estimated $100 billion by 2027, up from $72 billion in 2022, according to market research firm Euromonitor. Luxury bags are also seeing a shakeup from the emergence of more contemporary alternatives, streetwear-inspired looks and innovations in sustainable materials.
“No longer are luxury bags inaccessible. We used to talk a lot about high net worth individuals, and how we targeted them five to ten years ago,” said Ian Earnshaw, chief commercial officer of Mulberry. “Today, the actual customer base is a lot broader.”
In this Masterclass, BoF Insights’ Benjamin Schneider and Diana Lee unpack their report on the category, “The New Era of Designer Bags: Redefining Leather Goods,” alongside Earnshaw and Richard Johnson, chief commercial officer of Mytheresa.
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