Analysts have projected that menswear would become a very lucrative segment of the fashion industry based partly on the buying power that men possess. Today, volumes have been growing at 5% per annum, yet the amount spent per unit has been increasing by 10% a year, which means that men are spending more on each bag they are purchasing.
“Man Bags,” which are considered to be totes, duffels, clutches, backpacks, messenger and bowling bags, represent 1 in 5 of all sales in the global luxury handbag market. The aggregate value of men’s bags sales have doubled with men now spending over $7 billion on luxury bags. Continue reading