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Luxury Handbags Market to Grow by USD 24.73 Billion (2024-2028), Driven by Innovation in Design and Materials, Report Highlights AI Impact on Trends – Technavio

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NEW YORK, Jan. 22, 2025 /PRNewswire/ — Report on how AI is redefining market landscape – The global luxury handbags market size is estimated to grow by USD 24.73 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 6.34%  during the forecast period. Design and material innovation leading to product premiumization is driving market growth, with a trend towards personalization and customization of luxury handbags. However, presence of counterfeit products  poses a challenge. Key market players include 3.1 Phillip Lim, Burberry Group Plc, Capri Holdings Ltd., Chanel Ltd., Compagnie Financiere Richemont SA, Dolce and Gabbana S.r.l., Fendi, Giorgio Armani S.p.A., Hermes International SA, Kering SA, Maus Freres SA, Mulberry Group Plc, Prada Spa, PVH Corp., Ralph Lauren Corp., Rebecca Minkoff LLC, Tory Burch LLC, Sungjoo Group, Tapestry Inc., and The LVMH group.

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF

Luxury Handbags Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 6.34%

Market growth 2024-2028

USD 24.73 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

5.86

Regional analysis

Europe, North America, APAC, South America,
and Middle East and Africa

Performing market contribution

Europe at 32%

Key countries

US, China, France, Italy, and Japan

Key companies profiled

3.1 Phillip Lim, Burberry Group Plc, Capri Holdings
Ltd., Chanel Ltd., Compagnie Financiere
Richemont SA, Dolce and Gabbana S.r.l., Fendi,
Giorgio Armani S.p.A., Hermes International SA,
Kering SA, Maus Freres SA, Mulberry Group Plc,
Prada Spa, PVH Corp., Ralph Lauren Corp.,
Rebecca Minkoff LLC, Tory Burch LLC, Sungjoo
Group, Tapestry Inc., and The LVMH group

Market Driver

The customization trend is gaining traction in the luxury handbag market, with consumers seeking unique and personalized products. This trend extends to handbags made of various materials like gold, silver, and diamonds, particularly in the fashion industry. Over the past five years, customized luxury goods, including handbags, have gained popularity in developed regions such as the Americas and Europe. Emerging markets like India and China are also experiencing a rising demand. Leading market players, such as Capri Holdings, offer customized luxury handbags, allowing personalization from straps and buckles to embroidery or monogramming. The Monogram Shop by Capri is an example of this trend, enabling customers to personalize their handbags for a more distinctive and valuable product. Customization and personalization are expected to boost revenues for luxury handbag manufacturers during the forecast period. 

The luxury handbag market is experiencing in trends, with bespoke designs and functional accessories leading the way. Influencers play a significant role in shaping consumer preferences, promoting versatile accessories from reputable firms. Pre-owned luxury handbags and vintage designs are also gaining popularity, with limited-edition designs adding exclusivity. Purchasing power and a growing sense of style drive demand for high-quality handbags. Innovative designs, durability, strength, and resilience are key factors, with high-end fashion brands focusing on flexibility and versatility. Materials like cotton, linen, jute, and hemp are in vogue, catering to various consumer preferences. Technology is revolutionizing the industry, with augmented reality and virtual reality enabling customers to visualize bags before purchasing. Social media and influencer marketing are crucial channels for brands, reaching a wider audience. However, combating fake products and replicas remains a challenge. Functional accessories like tote bags with increased storage capacity, clutches, crossbody bags, shoulder bags, satchels, hobo bags, and briefcases cater to the needs of working women and those seeking financial freedom. Overall, the luxury handbag market continues to evolve, offering consumers a wide range of choices. 

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 Market Challenges

The luxury handbags market experiences growth due to increasing fashion trends and consumer demand. However, this market growth is accompanied by a parallel increase in counterfeit luxury handbags, particularly in developing regions. These counterfeit products, made from low-quality materials, can be harmful to users’ skin and health. E-commerce platforms expand the reach of counterfeit products, making it challenging for consumers to distinguish between authentic and fake items. The affordability of counterfeit products fuels their demand, negatively impacting the sales and reputation of genuine vendors. To retain customers and protect brand image, vendors invest heavily in advertising and promotional campaigns, which further decreases profit margins. Counterfeit products also affect volume sales, leading to inventory backlogs for international vendors. Manufacturers of counterfeit products benefit from lower production and transportation costs, offering cheaper alternatives to genuine handbags. Global players aim to penetrate developing markets like India and China, where counterfeit products are prevalent, posing a significant challenge to market growth.The luxury handbag market faces several challenges in today’s consumer landscape. Integration of smart technology, such as built-in speakers and wireless charging, is a growing trend. However, implementing these features increases production costs. Waste reduction through synthetic materials like nylon is essential for eco-conscious consumers, but may not appeal to those seeking authentic leather. Gender-neutral designs, including satchel bags, sling bags, laptop bags, and messenger bags, cater to both men and women. Millennials and Generation Z, who prioritize the luxury lifestyle, shop at specialty stores, duty-free stores, online stores, and discount stores. Fashion-conscious consumers, influenced by social media bloggers and celebrity endorsements, drive demand for limited-edition handbags and customized engraving. The consumer goods industry, including handbags, faces challenges from import duties, taxation, and counterfeit products. E-commerce platforms and multichannel brands offer personalized recommendations, virtual try-on experiences, and click-and-collect choices. Environmentally friendly materials, such as recycled leather, organic textiles, and bio-fabricated solutions, are gaining popularity. Online purchasing and supply chain optimization are key strategies for staying competitive.

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Segment Overview

This luxury handbags market report extensively covers market segmentation by  

Distribution Channel1.1 Offline1.2 OnlineType 2.1 Handbag2.2 Backpack2.3 Wallet2.4 OthersGeography 3.1 Europe3.2 North America3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Offline-  The luxury handbag market is a significant segment of the fashion industry, showcasing high-end bags from renowned brands. These bags are made with premium materials and intricate designs, catering to consumers seeking elegance and exclusivity. Brands invest in research and development to offer innovative features and designs, ensuring customer satisfaction. The market’s growth is driven by increasing consumer disposable income, fashion trends, and the desire for status symbols. Competition is fierce, with brands constantly striving to outdo each other in terms of quality, design, and pricing.

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Research Analysis

The luxury handbags market is a thriving segment of the consumer goods industry, driven by the desire for high-end fashion and the growing financial freedom of working women. The market encompasses a range of styles including clutches, crossbody bags, shoulder bags, satchels, hobo bags, and tote bags. Social media bloggers and celebrity endorsements significantly influence consumer preferences. The market is characterized by the use of premium materials such as crafted leather, organic textiles, and bio-fabricated solutions. E-commerce platforms have revolutionized sales, offering personalized recommendations, virtual try-on experiences, click-and-collect choices, and custom-made handbags. However, challenges include import duties, taxation, counterfeit products, and increasing competition. Limited-edition handbags and customized engraving add exclusivity, while bespoke designs cater to individual tastes. Online purchasing continues to dominate, but physical stores offer tangible experiences and custom-made solutions. The market is expected to grow, driven by evolving consumer preferences and technological advancements.

Market Research Overview

The luxury handbags market is a thriving segment of the consumer goods industry, catering to the desires of fashion-conscious consumers worldwide. This market is driven by the growing working women population seeking functional and stylish handbags that reflect their financial freedom and luxury lifestyle. High-end fashion brands continue to innovate, offering a wide range of handbag styles including clutches, crossbody bags, shoulder bags, satchels, hobo bags, totes, briefcases, and more. Materials such as cotton, linen, jute, hemp, and synthetic fabrics are used, with some brands incorporating smart technology like built-in speakers, wireless charging, and GPS tracking. Environmentally-friendly materials like recycled leather, organic textiles, and bio-fabricated solutions are also gaining popularity. The market is not limited to women; men and unisex bags are also in demand. Consumers can purchase handbags through various channels including specialty stores, duty-free stores, online stores, and discount stores. Millennials and Generation Z are significant buyers, influenced by social media bloggers, celebrity endorsements, and blogger endorsements. The luxury handbag market faces challenges such as import duties, taxation, counterfeit products, and supply chain issues. Brands are responding with multichannel strategies, personalized recommendations, virtual try-on experiences, click-and-collect choices, custom-made handbags, and limited-edition designs. Influencers, functional accessories, and versatile accessories are also key trends. The market is expected to continue growing, driven by purchasing power, a sense of style, and the fusion of fashion and technology.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

Distribution ChannelOfflineOnlineTypeHandbagBackpackWalletOthersGeographyEuropeNorth AmericaAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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ASUS Accelerates Enterprise AI at Scale with 6th-Gen AMD EPYC Server CPUs

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 ASUS leverages 6th-gen AMD EPYC Server CPUs to deliver scalable, efficient compute for enterprise AI, cloud, virtualization and business-critical workloads

SAN FRANCISCO, July 24, 2026 /PRNewswire/ — ASUS today announced its groundbreaking new server lineup powered by the AMD EPYC™ 9006 processors, engineered to deliver unmatched performance for the most demanding intensive enterprise workloads. This advanced portfolio introduces two highly optimized series with efficiency-optimized AMD EPYC SP8 server CPU, the flagship dual-socket ASUS RS700A/720A for extreme compute density and the single-socket ASUS RS500A/520A for superior space efficiency and deployment flexibility.

Both series integrate full PCIe® 6.0, leading memory support, and high-density E3.S storage, all underpinned by proprietary ASUS innovations for superior thermal management and operational efficiency to meet and exceed the rigorous demands of enterprise AI, virtualization, storage and cloud environments.

“The new ASUS server series, powered by 6th-gen AMD EPYC server CPUs, is engineered to power every enterprise workload with flexible, scalable infrastructure,” Paul Ju, Senior Vice President of ASUS, commented, “This launch marks a significant milestone for ASUS and our clients. The new series empowers businesses with a resilient foundation to achieve unprecedented computing efficiency and accelerating AI innovation with inference.”

ASUS expands 6th-gen AMD EPYC server portfolio with dual optimized series

ASUS has introduced a new server lineup segmented into two distinct series, each precisely engineered to meet diverse enterprise demands.

The flagship RS700A/720A series (dual-socket) delivers extreme compute density, making it ideal for AI inferencing, and complex simulations. It offers exceptional bandwidth with PCIe 6.0, memory leadership via 32 DIMM slots supporting ultrafast MRDIMM, and high-density storage with up to 32 E3.S bays in a compact 2U form factor.

Complementing this is the RS500A/520A series (single-socket), a highly efficient and space-optimized solution with depth under 800mm, perfect for mainstream enterprise workloads and rack-constrained environments. Featuring full PCIe 6.0 capabilities, E3.S storage support, and modular scalability through shared components with the RS700A and RS720A series, it provides uncompromised performance in a streamlined, deployment-friendly design.

ASUS elevates the AMD EPYC platform with cutting-edge proprietary innovations

ASUS has significantly advanced the AMD EPYC 9006 platform with a series of proprietary engineering breakthroughs focused on superior reliability, thermal management, and operational efficiency.

The DC-MHS modular architecture features a zone-partitioned chassis that separates I/O, HPM, fan, and storage modules to accelerate development, reduce capital costs, and enable rapid serviceability. The patented ASUS DIMM.2 Innovation repositions M.2 storage to the cooler DIMM region, eliminating thermal throttling without extra heatsinks and unlocking greater scalability. Thermal Radar 3.0 with PID Control delivers precise real-time fan regulation via advanced algorithms, reducing energy use and maintaining peak performance under heavy enterprise-level workload.

Completing the suite is the optimized tool-less operational-velocity design, which boosts maintenance efficiency, maximizing uptime and lowering TCO and sustaining peak performance even under volatile, high-load AI/HPC workloads.

AVAILABILITY & PRICING

ASUS RS700A/720A series and RS500A/520A series servers will be available soon. Please contact your local ASUS representative for further information.

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Fractal posts 20% revenue growth and 92% net income growth in Q1 FY27

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Adjusted EBITDA Grows at 35% YoYGross Margin up 29 bps1 to 46%; Adjusted EBITDA Margin up 189 bps to 17%

NEW YORK, July 24, 2026 /PRNewswire/ — Fractal Analytics Ltd (BSE: 544700) (NSE: FRACTAL) announced its consolidated financial results for Q1 FY27, ending June 30, 2026.

In Q1 FY27, the Company reported consolidated operating revenue of INR 9,125 m, a growth of 20% year on year (YoY). Revenue growth was led by the company’s Healthcare and Life Sciences (HLS) industry, which clocked 69% growth YoY. Strong sustained growth in HLS over the last several quarters has resulted in it becoming the second largest industry in the portfolio. Banking, Financial Services and Insurance (BFSI) also performed very well, growing 36% YoY in Q1. Fractal’s largest industry, Consumer Packaged Goods and Retail (CPGR), continued to gather momentum, growing 19% YoY. On the other hand, TMT declined 22% YoY.

Fractal’s focus on deepening customer relationships continues to yield good outcomes. Its clients collectively increased their spending with the company, as reflected in the Net Revenue Retention2 of 117% in Q1. Further, its Net Promoter Score (NPS) during the period stood at 77.

The company reported improved profit margins at all levels. Gross Margin in Q1 was at 46%, while Adjusted EBITDA Margin expanded by 189 bps YoY to 17%. Net Income grew 92% YoY to INR 723 m.

Commenting on the performance, Srikanth Velamakanni, Group CEO and Executive Vice-Chairman, said:

“Enterprises are putting real transformation budgets behind AI now and we’re seeing it directly in the size of the deals coming to us. TMT was the drag on our headline growth this quarter. Excluding TMT, our business grew 35% year on year, which is a better read on the underlying demand we’re seeing.

As data sovereignty becomes a bigger priority for governments and enterprises, and as open-weight models keep improving, clients need a partner who can work across models and infrastructure. We have invested heavily in our people, our research, and our own intellectual property to be that partner.”

1 Basis points = 1/100th of 1%
2 Net Revenue Retention in our Fractal.ai segment measures how effectively we retain and expand revenue from our existing clients over a defined period and is calculated by comparing the current period’s revenue from the clients who existed at the start of the period, with their revenue in the previous period – including the effects of upsells, cross-sells and contractions

About Fractal 

Fractal Analytics Ltd (BSE: 544700) (NSE: FRACTAL) is a globally recognized pure-play enterprise AI company trusted by Fortune 500®-sized enterprises to power decision-making through AI services, solutions, and products, anchored by Cogentiq, its flagship agentic AI platform. With over 6,000 professionals across North America, EMEA, and Asia-Pacific, Fractal partners with business leaders to drive competitive differentiation for their organizations by embedding AI into critical decisions across business functions and industry verticals.

Fractal invests more than 6% of its revenue in AI R&D, supporting foundational AI research, product development, and IP creation that address both immediate client needs and long-term technological advancement. Fractal’s track record includes developing proprietary models and products such as Cogentiq Health – Vaidya.ai and Cogentiq Data Science – PiEvolve, as well as incubating and spinning out Qure.ai, a global healthcare AI leader focused on the rapid identification and management of tuberculosis, lung cancer, and stroke (or critical health conditions). Fractal’s suite of businesses consists of Asper.ai (a Revenue Growth Management product for CPG companies) and Analytics Vidhya (an Ed-tech platform).

For more information, go to www.fractal.ai.

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SOURCE Fractal Analytics Limited

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Xryma Plc : Pre-Listing Liquidity Facility and Price Discovery Process

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NICOSIA, Cyprus, July 24, 2026 /PRNewswire/ — Xryma Plc (“Xryma”)  announces its intention to reapply within the next twelve months for admission to list on Euronext Paris (“Euronext”), with such admission being subject to Euronext’s approval. Before submitting its application, Xryma intends to launch a pre-listing liquidity facility and price discovery process, comprising a private placement to institutional and qualified investors alongside a secondary market offer to Xryma existing shareholders (“shareholders”) wishing to exit prior to listing.  

The admission referred to above that is subject to the approval of Euronext may also be subject to approval by relevant regulatory authorities, and no assurance can be given that approval will be granted or as to the timing of any admission.

The pre-listing liquidity facility and price discovery process is designed to:

Enable shareholders seeking an exit to participate without the need to open an EU brokerage account,Provide a clear and orderly opportunity for existing shareholders to sell all or part of their holdings ahead of any potential admission to trading on Euronext Paris,Enable shareholders to sell all or part of their holdings at the same price at which qualified and institutional investors subscribe for shares in the Company,Establish, through a bookbuild with qualified and institutional investors, a market-validated referenced price for Xryma shares ahead of any potential admission on Euronext Paris (the “Primary Market Placement Price”),Support orderly trading upon potential admission.

Individual shareholder mailouts explaining the details of the pre-listing liquidity facility scheme with instructions and necessary documentation will be conducted during August 2026.

As the Primary Market Placement Price is to be determined by the subsequent bookbuild, shareholders will be given the opportunity to set a floor price which will result in the sale of their shares if the Primary Market Placement Price is higher.  Shareholders will receive the Primary Market Placement Price minus applicable fees.

Shareholders and Investors may be scaled back to match corresponding demand from the other party, with partial fulfilment a possibility if the Company cannot match supply to demand.

Completion of the process is subject to achieving a level of institutional and qualified investor demand that the Board considers appropriate to support an orderly market should Xryma subsequently be admitted to trading on Euronext Paris.

Participation is entirely voluntary. Shareholders who do not wish to sell will simply retain their shares. Shareholders that do not intend to participate should continue to onboard with a Euronext participating broker, or a Euroclear ESES custodian, per previous communications.

The major shareholders, SCP Select All Enterprise (Monaco) and SCP Red 5 Solutions (Monaco) will not participate in the offer and will be subject to lock up arrangements.

Mr Nikogiannis (John) Karantzis, CEO of Xryma Plc comments: “Our shareholders have told us they would value a straightforward way to realise their holdings without the time and cost of opening an EU brokerage account. This process is our response to that feedback. We are structuring the placement to be large enough to establish a credible reference price whilst limiting dilution, with demand directed first towards meeting shareholder sell interest. We look forward to updating the market on the revised timetable in due course.”

Shareholders seeking a more detailed explanation of the pre-listing liquidity facility and price discovery process, should refer to the guide available at https://www.xryma.com/investors

Important Information & Disclaimers

This press release may contain inside information within the meaning of Article 7(1) of Regulation (EU) 596/2014 (Market Abuse Regulation).

This publication is not for publication or distribution or release, directly or indirectly, in or into the United States of America (including its territories and possessions, any state of the United States and the District of Columbia), Canada, Australia, South Africa, Japan or any other jurisdiction where such an announcement would be unlawful. The distribution of this publication may be restricted by law in certain jurisdictions and persons into whose possession this document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. No action has been taken that would permit an offering of the treasury shares or possession or distribution of this publication in any jurisdiction where action for that purpose is required.

This publication does not constitute or form part of an offer for sale or solicitation of an offer to purchase or subscribe for securities in the United States, Canada, Australia, South Africa, Japan or any other jurisdiction and the securities referred to herein have not been registered under the securities laws of any such jurisdiction. Any New Shares (if such are issued) will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”), or under the securities laws of any State or any other jurisdiction of the United States, and may not be offered or sold, directly or indirectly, in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of, the Securities Act and in compliance with all applicable securities laws of any State or any other jurisdiction of the United States. No public offering of securities is being made in the United States or in any other jurisdiction.

The information set forth herein must not be distributed in any jurisdiction where such distribution is unlawful, and any recipients are requested to inform themselves about and to observe such restrictions.

The Offering referred to herein by Xryma Plc will only be made in accordance with all applicable corporate and securities laws. Any shares referred to herein will exclusively be offered or sold in reliance on any applicable exemptions from prospectus or registration requirements in any jurisdiction. In member states of the European Economic Area, this publication is only addressed to and directed at persons who are ‘qualified investors’ within the meaning of Article 2(e) of Regulation (EU) 2017/1129 (as amended and including any relevant delegated regulations, the “Prospectus Regulation”) or in any other circumstances falling within exemptions available in the relevant member state under Article 1(4) and/or 1(5) of the Prospectus Regulation. In the United Kingdom, this publication is only addressed to and directed at qualified investors within the meaning of the Prospectus Regulation, as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended (“EUWA”), who are persons (i) who have professional experience in matters relating to investments falling within Article 19(5) (investment professionals) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the “Order”), (ii) falling within article 49(2)(a) to (d) (high net worth companies, incorporated associations, etc.) of the Order, or (iii) to whom it may otherwise be lawfully communicated; any other persons in the United Kingdom should not take any action on the basis of this publication and should not act on or rely on it.

This publication does not constitute a recommendation concerning the prospective Offering. This announcement does not constitute an Offer or invitation to subscribe.

This announcement includes statements that are, or may be deemed to be, ‘forward looking statements’. These forward-looking statements can be identified by the use of forward looking terminology, including the terms ‘believes’, ‘estimates’, ‘anticipates’, ‘expects’, ‘intends’, ‘may’, ‘will’, or ‘should’ or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. By their nature, forward looking statements involve risk and uncertainty because they relate to future events and circumstances which may or may not occur. Many of these factors are beyond the control of the Company. Should one or more of these risks or uncertainties materialise, or should underlying assumptions prove incorrect, actual results and circumstances may vary materially from those described in this announcement as anticipated, believed, estimated or expected.

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