The handbag market in India has gone through constant transition over the last decade, thanks to the evolving consumption choices of Indian consumers, especially those reflecting their personalities. Indeed, the fashion accessory is no longer a mere necessity purchase for consumers in India, but an important component of the lifestyle shopping category. Given the growing Indian economy, an increase in disposable income, and rising urbanization, the demand for fashion goods is at its all-time high in the country. Consequently, the market for handbags is growing at an unprecedented rate, and these top handbag brands in India continue to dominate the industry.
Indian Handbag Market Analysis
The handbags market in India can be segmented into four categories: shoulder bags, satchels and saddles, totes, and purses and wallets. According to the market research report compiled by industry analysts at Technavio, the handbags market in India is dominated by the purses and wallets segment, which is expected to remain a major contributor in the next few years. The report also identifies that the specialist retailers will account for the largest share of the market in terms of distribution.
For more insights on the handbags market size, top handbags manufacturers, and future trends in this market, check out Technavio’s Global Handbags Market report, or download your?Handbags Market in India 2020-2024 Report Sample?for FREE!
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Top 10 Handbag Brands in India 2020
With more than six decades of experience in manufacturing leather goods, Da Milano is one of the best handbag brands in India today, offering products that include state-of-the-art technology, creativity, and enduring sophistication. Apart from handbags, the company also offers travel bags, portfolio bags, wallets, and other accessories. In India, Da Milano presently operates 44 self-operated retail stores in 10 cities across the country and has plans to grow to 100 retail outlets across more than 34 cities in India in the next five years. The company is also aiming to expand its reach in the global market with plans to open stores in Europe, Singapore, and Dubai.
From a two-man workshop to one of the leading handbag manufacturers that is most recognized for its quality products, and personalized service, Hidesign has become one of the top handbag brands in the world with more than 84 exclusive retail outlets and a distribution network across 23 countries. Apart from the Indian market, the leading handbags brand is present in the UK, the US, and a few European countries. The company aims to expand its presence in India and in emerging global markets. Hidesign is planning to establish 20 retail stores by the end of this year including 10 outlets at airports and another 10 in malls.
Read more: Top 10 Shoe Companies in the World 2020
Founded in 1990 by Nina Lekhi, Baggit is one of the most recognized handbag brands in India that manufacturers high-quality handbags for women at affordable prices. The company also manufactures and designs belts, caps, multi-utility pouches, wallets, and other related products. The brand first appeared at INXS, Mumbai and now has retail outlets in more than 61 cities across the country including Pune, Mumbai, Delhi, and Bangalore. Currently, Baggit has a net worth of more than INR 60 crores. Baggit also has a presence on e-commerce platforms such as Amazon, Flipkart, Myntra, and Jabong.
VIP Industries, the company which dominates the luggage industry with a 52% market share, has been striving to make its iconic handbag brand Caprese a major growth driver for the organization. Caprese is positioned as a mass premium brand in India and is today one of the top brands in the ladies’ handbags market. Caprese’s handbags are offered at more than 800 points of sale across the nation, including company-owned stores, multi-brand dealers, franchisee stores, and some of the largest department store chains such as Pantaloons, Lifestyle, Shoppers Stop, and Central.
Lavie (Bagzone Lifestyles)
Lavie is one of the leading lifestyle brands in India. It unveiled its first bag collection in 2010, followed by a wide range of product launches to cater to the growing demand from its consumers. Bagzone, which manufactures and sells bags, is the parent company behind Lavie, which was introduced to target the ladies’ handbags market. The company sells its products through Bagzone stores, Lifestyle, Pantaloons, Shoppers Stop, Central, and many other leading retail stores along with online retailers such as Amazon, Jabong, Flipkart, Myntra, and the company-owned Bagzone.com. Lavie recently signed Anushka Sharma, a popular Bollywood actress, as its brand ambassador.
Ladida is touted as one of the most ethical handbags brands that eliminates the use of animal leather and instead utilizes synthetic leather and faux leather to make its bags. Founded in 2001, Ladida has shown consistent growth in India and other emerging countries with products that reflect idiosyncratic designs, usage of faux materials, and appropriate color combinations. Ladida is now one of the top 10 ladies’ handbags brands in India, dominating the industry with quality products and a good price tag. The company’s handbags products are available on some of the top e-commerce websites including Paytm, Amazon, Jabong, Myntra, and other retailers.
The House of Tara
Founded in 2012 in Delhi, The House of Tara has grown into one of the leading handbags brands in India thanks to its unique approach to break the cliché of traditional handbag designs and make casual, stylish bags. The House of Tara has become one of the most recognized brands among college students and teens who look for funky and innovatively designed handbags at affordable prices. The brand’s handbags are touted as?an ideal choice for gifting purposes.
Lino Perros (Sumitsu Apparel)
Established in the year 1999, Lino Perros has come a long way to become one of the leading handbag brands in India. The company’s products were well received by the Indian market from its beginning, owing to its high-quality and attractive designs. Lino Perros is a subsidiary brand of Sumitsu Apparel, which is well known for its quality products in India. Lino Perros has its own manufacturing facility, which helps the company make handbags available for customers at a very affordable price.
Esbeda (Intouch Leather House)
Esbeda, a leading ladies’ handbag brand launched by Intouch Leather House India Pvt. Ltd., entered the market with a retail showroom in North Mumbai in 2006. The company offers a broad collection of exclusive bags and accessories ranging from bridal wear to formal wear. With a global network of clients and more than 18 years in business, Esbeda has grown into a large brand with extensive knowledge of the bags and accessories markets around the world. The company has its own manufacturing facilities located across China, Korea, and Taiwan to meet the growing demand from the Indian market.
Peperone (Unico Retail)
Unico Retail is one of the top handbag brands in India and a leading manufacturer of accessory lifestyle products such as ladies’ fabric bags, men’s wallets, and handbags. Founded in 2010, the company has evolved from a handbags company into a multi-dimensional growth-oriented fashion brand with lines such as Donna & Drew and Peperone. Peperone unveiled its first collection in 2010 in Chennai, and since then the handbag brand has attracted a large number of loyal consumers. Its products are a blend of craftsmanship, extreme comfort, and progressive styles.
What’s Trending in the Handbags Market in India?
With the advent of?e-commerce, a large number of customers are inclined toward online shopping. The vendors who have a strong digital presence benefit from the increased demand for online shopping among customers. In mature markets, e-commerce has already been established. In contrast, the trend of e-commerce and online retailing is comparatively less developed in emerging markets. E-commerce offers several benefits such as easy delivery and optimal usage of time. The numerous benefits of e-commerce have contributed to the growth of the handbags market in India.
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