Products made of leather are made from tanned animal hides. Animal skin can be tanned to make it suitable for a range of uses, including wallets, clothing, footwear, and other items. The intrinsic qualities of leather, such as its durability, fireproofness, abrasion resistance, and crack-resistance, are anticipated to propel the market for leather items worldwide.
Designers from all over the world showcase their latest creations at fashion shows and other events, persuading more people to buy leather clothing. Leather products demand is increasing as more High-Net-Worth Individuals (HNWIs) grow wealthy and designer and branded items become more popular in key markets such as the United States, France, and China. Leather things are exclusive and frequently pricey. The country's growing number of High Net Worth Individuals (HNWIs) and Ultra-High Net Worth Individuals (UHNWIs) is driving up demand for leather goods in China. The COVID-19 pandemic has had a devastating influence on the whole leather industry, including footwear, clothes, and accessories. Retailers lost a lot of money in the first two quarters of 2020. As a result of the general lack of demand for footwear, it is expected that sales of leather shoes would fall. China has historically been a key supplier of raw materials and finished goods to a variety of leather industry manufacturers. The pandemic, on the other hand, has severely harmed on-time delivery and product shipments by interrupting the supply chain.
Global sales of Leather Goods expanded at a CAGR of 5.18% from 2022 to 2030.
Leading Companies in the Leather Goods Industry:
1. LVMH Moët Hennessy Louis Vuitton SE
LVMH Moët Hennessy Louis Vuitton SE is a French multinational holding and conglomerate specializing in luxury goods. It was founded in 1987 and headquartered in Paris, France. It operates across 81 countries. In January 2023, the world's top luxury goods business, LVMH Mot Hennessy Louis Vuitton, reported revenue of €79.2 billion in 2022 and profit from recurring operations of €21.1 billion, both up 23%.
2. Kering S.A.
Kering S.A. was founded in 1962 and headquartered in Paris, France. It operates in the Western Europe, Asia Pacific, Japan, North America and Rest of the World. Kering announced new advances in its digital strategy in November 2018.
3. Adidas AG
Adidas AG is a German athletic apparel and footwear corporation, founded in 1924 and headquartered in Bavaria, German. It operates in around 45 countries.
4. Hermès International S.A.
Hermès International S.A. is a French luxury design house that specializes in leather goods, lifestyle accessories, home furnishings, perfumery, jewelry, watches and ready-to-wear. was founded in 1837 and headquartered in. It operates in 45 countries.
5. Dolce & Gabbana Luxembourg S.à.r.l.
Dolce & Gabbana Luxembourg S.à.r.l. is an Italian luxury fashion house that specializes in ready-to-wear, handbags, accessories, and cosmetics and licenses its name and branding to Luxottica for eyewear. It was founded in 1985 and headquartered in Milan, Italy. It operates in 40 countries over the World.
6. Overseas Leather Goods Company Pvt Ltd
Overseas Leather Goods Company Pvt Ltd was founded in 1977 and headquartered in Kolkata, India. It operates in countries including Italy, Germany and host of other countries.
7. Tata International Ltd
Tata International Ltd was founded in 1985 and headquartered in Mumbai, Maharashtra, India. It operates in more than 27 countries. Tata International's Leather Products team finished machine installation and commissioning of its Athleisure Project in March 2023, and production began satisfactorily. The new line's future objectives include ramping up production to meet target efficiency.
8. Chanel International B.V.
Chanel International B.V. was founded in 1979 and headquartered in Gustav Mahlerlaan, Amsterdam. It operates globally. A partnership agreement between Chanel and Politecnico di Milano University was inked in June 2022 and is in keeping with the House's ongoing efforts to reinvent itself sustainably. This collaboration is CHANEL's solution to a number of significant problems. It intends to leverage Politecnico's experience to build new approaches that consider the quick and significant changes in activities related to luxury manufacturing.
9. Prada S.p.A
Prada S.p.A was founded in 1913 and headquartered in Milan, Italy. It operates in more than 70 countries. Prada Group announced a huge plan in March 2023 to hire over 400 workers by the end of 2023 to increase its production capacity and artisan expertise in Italy. The new appointments will help to strengthen the Group's strong industrial strategy, which is one of its particular competitive advantages.
10. Ralph Lauren Corporation
Ralph Lauren Corporation was founded in 1967 and headquartered in
New York City, U.S. It operates in 30 countries. Ralph Lauren introduced a recycling scheme for Cradle to Cradle certified sweaters in January 2023.With the release of its first Cradle to Cradle (C2C) certified gold cashmere sweater and cashmere recycling program, Ralph Lauren Corporation is elevating its environmental initiatives.
Definition: Any consumer product made of leather - for example, clothing, shoes, bags, belts, furniture, soft furnishings, and even equine equipment, such as saddles and bridles - is subject to controls on the chemicals that may be present as a result of the tanning process.
