Industry Analysis & Industry Trends
Carried away
Imports will continue to hamper domestic growth, as leather good and luggage manufacturers increasingly shift production overseas. Furthermore, companies will continue to exit the industry at a steady pace over the next five years. Nevertheless, existing industry firms will focus on designing and marketing activities and producing high-end products that carry a higher price tag in niche markets... purchase to read more
Industry Report - Industry Analysis Chapter
Even prior to the economic recession, the Leather Good and Luggage Manufacturing industry was suffering. Revenue has declined at an estimated average annual rate of 9.6% over the five years to 2012, totaling $2.7 billion. Import competition has been a major factor in the declining performance of this industry, with many local companies shifting from manufacturing leather accessories and luggage to sourcing them from low-cost Asian countries or third-party contractors. Many producers have exited the industry, unable to sustain operations in the price-pressured environment; the surviving players have altered operations to focus on the design and marketing processes, rather than on the production of goods... purchase to read more