Luxury Handbags Market Share

Luxury Handbags Market Share Analysis

The traditional perception of handbags solely as women's accessories has evolved dramatically due to the increasing presence of fashion bloggers and social media, reshaping men's interest in these products. Statistics from various resale platforms illustrate this shift, with men comprising 33% to 50% of Rebag's customer base and around 50% on StockX, another resale marketplace dedicated to bags. Notably, eBay observed an 880% surge in searches for luxury handbags among men in 2022 compared to the previous year, reflecting a growing male interest in this fashion segment. According to the CEO and founder of Rebag, cross bodies, sling styles, messenger bags, and duffels are among the most sought-after handbag types in the men's category.

Fashion designers and influencers have played a pivotal role in driving this trend. Influential figures like Kim Jones reintroduced saddlebags in 2019, while artists like Harry Styles appeared with handbags in Gucci advertisements, influencing and diversifying the perception of handbags as a genderless accessory. This approach, embracing gender-neutral designs for various accessories, has significantly contributed to altering men's attitudes toward using handbags. Furthermore, several brands have recently launched products explicitly targeting the male demographic, aligning with the growing preference among men for handbags. Notably, in January 2022, Hermes introduced a men's version of the Birkin bag named the Mirkin bag, featuring an attached keychain.

This evolving preference among men for handbags is expected to propel the demand for luxury handbags from 2022 to 2030, reflecting a significant shift in the market's dynamics as men increasingly embrace and adopt these accessories.