COMPETITIVE LANDSCAPE
Leading players benefit from premium exclusivity as luxury market polarises
In 2025, Louis Vuitton Korea Ltd held a 14% share in bags and luggage, Hermès Korea Ltd held 8%, and Chanel Korea Co Ltd held 7%. Whilst overall luxury consumption slowed, Hermès and Chanel both recorded share increases, testament to the ongoing significance of exclusivity amongst affluent consumers.
Gen Z yearns for Y2K nostalgia
Gen Z’s romanticisation of what the early 2000s was actually like is informing consumer demand, as Y2K becomes the new vintage. There were numerous examples of this in 2025, such as Longchamp’s Le Pliage, viewed as retro but stylish.
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Overview:
Understand the latest market trends and future growth opportunities for the Bags and Luggage industry in South Korea with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Bags and Luggage industry in South Korea, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Bags and Luggage in South Korea report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Bags and Luggage in South Korea?
- Which are the leading brands in Bags and Luggage in South Korea?
- How significant is tourism in determining sales and demand for Bags and Luggage in South Korea?
- How are COVID-19 and global recession impacting demand for Bags and Luggage in South Korea?
- In the wake of COVID-19, how soon can Bags and Luggage be expected to recover? Where are the opportunities for growth now?
- Where is future growth expected to be most significant?
Bags and Luggage in South Korea - Category analysis
KEY DATA FINDINGS
Market polarisation reshapes luxury landscape as Gen Z drives customization and Y2K revival
Bags remains the largest category whilst luggage posts strongest volume growth
Gen Z becomes a prime focus for sustained growth
Bags to remain largest category whilst business bags decline and luggage posts strongest growth
Rising demand for customised, functional products meets growing competition from resale platforms
Gen Z and Millennials drive trend to self-expression in product choices
Leading players benefit from premium exclusivity as luxury market polarises
Gen Z yearns for Y2K nostalgia
Online draws MZ shoppers while offline channels strengthen in luxury
Personal Accessories in South Korea - Industry Overview
Jewellery drives growth and sustainability credentials gain in importance
Premiumisation weakens as consumers shift from designer bags to alternative products
Changing expectations of Gen Z and Millennials create new growth opportunities
Second-hand luxury platforms gain ground as watches emerge as investment assets
Sustainability becomes a key selling point to appeal to MZ consumers
Writing instruments face structural decline as digital alternatives dominate
Ultra-luxury brands maintain appeal as investment assets whilst mid-tier players seek accessible positioning
Differentiation through customisation, community and material innovation
Polarisation accelerates as luxury concentrates at top whilst mid-tier brands lose ground
Gen Z drives growth in experiential retail through mindful consumption
Sustainability grows as a competitive selling point
Technological sophistication presents a key opportunity
Offline retail dominates
The rise of e-commerce
COUNTRY REPORTS DISCLAIMER
The following categories and subcategories are included:
Bags and Luggage
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- Backpacks
- Business Bags
- Crossbody Bags
- Duffel Bags
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- Non-Luxury Handbags
- Luxury Handbags
- Wallet and Coin Pouches
- Other Small Bags
- Luggage
Bags and Luggage
Bags and Luggage includes bags and cases which serve common everyday purposes or specific functions during travel, sports, or formal occasions. However, all sports equipment bags (e.g. golf, tennis, and bowling), insulated food and beverage bags, and musical instrument cases are excluded.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Bags and Luggage research and analysis database.
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