Bags and Luggage in Malaysia

Feb 19, 2015 - Euromonitor International - 24 pages - USD $900
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Luxury ranges of bags and luggage continued to show a significant presence in Malaysia during 2014. Consumers in Malaysia are highly influenced by the branding strategies of luxury brands, with high exposure to many luxury brands after they have returned from overseas trips or through looking at fashion magazines. Thus, the introduction of various new products by international luxury brands in bags and luggage continued to be significant throughout the review period.

Competitive Landscape

LVMH Moët Hennessy Louis Vuitton led bags and luggage in Malaysia in 2013 with a 5% value share. The company has a strong presence in bags and luggage, with its brands comprising its world-class house brand Louis Vuitton, as well as other luxury brands, such as Marc Jacobs and Loewe. All these luxury brands of bags and luggage are marketed by LVMH Moët Hennessy Louis Vuitton in Malaysia. Therefore, the strong performance of these luxury brands in bags and luggage, especially Louis Vuitton, as the leading brand in 2013, with a 4% brand share, continued to help position the company in the leading position during the review period.

Industry Prospects

Luxury bags and luggage will continue to show a strong presence in Malaysia, due to rising demand amongst consumers. Luxury brands such as Louis Vuitton, Coach, Prada and Gucci are all showing strong sales performances, with new luxury brands continuing to enter Malaysia. Consumers with strong brand-consciousness were willing to spend on branded bags and luggage in order to reflect their social status.

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Euromonitor International is a world leading independent provider of business intelligence on industries, countries and consumers. Their business intelligence products include award-winning online information databases, market reports and business reference books. Founded in 1972, Euromonitor International is a privately owned company with offices in London, Chicago, Singapore, Shanghai and Vilnius. Euromonitor has a team of over 600 in-country analysts worldwide, giving them a unique capability to deliver high quality and reliable business information.