The End Of The Big Handbag Industry Is Coming.

"This industry gives people a sense of destruction. Everything is defensive, not offensive."

According to the world clothing and shoe net, handbag manufacturers are busy coping with the decline in market demand and the embarrassment of discount sales. This situation may distract their attention to the long-term success of creativity.

Edited, a fashion industry analyst, points out that

Brand Michael Kors, luxury luxury Prada (Prada), LVMH's Louis Weedon (Louis Vuitton) and British luxury.

Burberry reduced the number of new products in the last quarter.

Although manufacturers and retailers are worried that they will be tired by too many styles, the lack of creativity will make it difficult for these brands to create surprise for customers. Milton Pedraza, a luxury consultant in New York, says this.

"The whole industry is permeated with a breath of doom, all actions are defensive rather than offensive."

Padma Reza runs Luxury Institute, a luxury brand research firm.

"What you see is only a lot of duplication, creativity and creativity are becoming more and more rare. What is most needed in the current environment is bold and enterprising."

Dull stock

In the latest holiday shopping season, the number of handbags displayed in high-end brand stores is much lower than before.

In the last three months of 2016, the number of new products launched by Michael Kors decreased by 24% compared with the previous quarter.

According to Edited's data, the number of new products introduced by Prada and Louis Weedon has also decreased by 35%, while bobury has shrunk by 8%.

Edited's customers include Ralph Lauren and luxury retail website Net-A-Porter.

Michael Kors did not immediately respond to the decline in the number of new items.

LVMH and Prada declined to comment.

Boboli did not comment, but the company said in November that it was cutting new quantities and Planning Innovation Based on local demand.

It is not easy to determine the appropriate number of new items.

Brands need to strike a delicate balance between overproduction of inventory (so-called "unsalable goods") and the assurance of a new style (to attract consumers), said Katie Smith, a senior fashion analyst at Edited, Katie.

"Too much pressure on the new design will threaten sales."

She said.

Edited also found that although Kate Spade and Ralph Lauren launched more new designs in the fourth quarter of 2016, most brands chose not to be unconventional but to spend the holiday season smoothly.

Elusive fashion trends

Fashion is an unpredictable industry, but handbag manufacturers rely on innovative designs and hot styles to get consumers' favor, such as the sale of mini bags.

Nowadays, when new design shelves are reduced, it is more difficult for brands to have the opportunity to set off a new trend.

In 2016, there were many high-level personnel changes in the luxury industry, which may also affect the launch of new products.

PVH group's Calvin Klein and Eve Szentgrolan (Yves Saint Laurent) brand have changed the creative director.

Ralph Lauren CEO Stefan Razon (Stefan Larsson) changed management in 2015, including the acquisition of Cox's chief financial officer, Jan Nilson (Jane Nielsen).

Handbag manufacturers are also facing other challenges.

Younger consumers demand faster revenue packages, and some consumers are more comfortable with shoes and jewellery than handbags.

Messi's Macy (s) Inc. recently released a dismal holiday sales performance and, to a certain extent, blamed it on the lack of sales of handbags.

The largest department store in the United States also said it would cut 6200 jobs and push ahead with plans to close 100 out of doors stores.

Messi has not had enough stock for the best handbag style on the market.

For example, the London Edited company's data show that the most popular handbag sales account for only 8.7% of the total sales of Messi handbags, which is 33% at Barneys New York in New York and 20% in Nord Nord department store.

"What they lack is the key products that can promote full price sales."

Smith said.

Price cuts are endless.

This led to Messi's chain store and other retailers having to rely on discount prices to boost sales.

Simon Siegel Siegel, an analyst at Instinet, a securities brokerage firm, said that consumers are now habitually looking forward to price cuts. (Simeon)

Messi's department stores had nearly 2500 discounted handbags in the first quarter, while Edited data showed that at least 900 handbags were sold on sale at Neiman Marcus and Barnes New York respectively.

"They need to find a way to adapt to this new normal price reduction."

Seagal said.

According to Euromonitor, a market research firm, by 2020, the sales growth rate of handbags will be reduced from 16% in 2012 to 3.1%.

The slowdown has led companies to diversify.

Michael Kors is entering the men's business, while Kate Spade has seen an increase in other businesses such as home use.

This is not to say that handbag manufacturers have given up.

Cox is optimizing its artisan service experience in its shop.

At the store in Fifth Avenue, New York, customers can design their own handbags.

The brand also signed an actor and singer Selena Gomez (Selena Gomez) as a brand spokesperson, striving to attract millennial generation of young people.

It also opened a new store for its Stuart Weitzman, which was acquired in 2015 by the flagship store of Fifth Avenue.

The current tragic situation in the fashion industry is prompting companies to act, says Padma Reza of Luxury Institute.

"This is the first time the fashion industry has faced a real threat for many years."

He said.

Fashion companies focus on "survival and Deconstruction of the old order".

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