August 12, 2008
China’s Luggage Exports Continue to Grow, With Sales in the First Quarter of 2008 Increasing 19 Percent to Almost US$1.4 Billion
Research and Markets
Laura WoodSenior Manager
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Research and Markets (http://www.researchandmarkets.com/research/ ae0eb5/china_sourcing_rep) has announced the addition of the "China Sourcing Report: Luggage" report to their offering.
China is the world's largest supplier of luggage, accounting for nearly 80 percent of exports in the line.
The export industry in the country has been experiencing steady sales growth over the past few years. After posting almost 18 percent growth in 2006, China shipped out close to US$6 billion worth of luggage in 2007, up 21 percent from a year ago.
Exports continue to grow, with sales in the first quarter of 2008 increasing 19 percent to almost US$1.4 billion.
However, rising production costs are now forcing many makers to close down. Others have no choice but to implement significant price increases or innovate in product development to sustain operations.
For example, new products for the promotional market are smaller, lighter and may even be foldable. For the upscale market, designs are reinforced with EVA to improve shock resistance and replace polyester with the more durable nylon for the panels and the lining.
Now you too can profit from this growing industry. This report will show you how by answering questions such as:
- Which suppliers are moving upmarket and how?
- What are the latest design trends?
- How do production hubs differ in terms of product offerings and pricing?
- How will rising production costs affect pricing in the coming months?
- And much more...
With profiles of 33 suppliers, a comprehensive industry overview, and detailed product and pricing information, this report will help you qualify suppliers before your next sourcing trip to China.
What you'll get
- In-depth profiles of 17 major suppliers with a comprehensive look at their product and pricing strategy, manufacturing and export capability, verified contact details, and more -- this information is not available anywhere else
- Profile tables of 16 additional suppliers, with key information such as production capacities, export capabilities, primary export markets and main machinery
- 106 full-color images that depict popular luggage exports, complete with product descriptions, prices, minimum order requirements and delivery times
- Results of the custom-designed supplier survey, which forecasts industry trends for the next 12 months
- Verified supplier contact details, including names, e-mails, telephone numbers and websites of profiled makers
- This report covers softside, hardside and hybrid luggage.
China is the world's largest supplier of luggage, accounting for nearly 80 percent of shipments in the line.
The export industry in the country has been experiencing steady sales growth over the past few years. After posting 17.7 percent growth in 2006, China shipped out close to US$6 billion worth of luggage in 2007, up 21.1 percent from a year ago.
Exports continue to grow, with sales in the first quarter of 2008 increasing 19.3 percent to almost US$1.4 billion. Volume shipments are not accelerating at the same pace, however, growing by only 2.8 percent at nearly 672 million pieces in the same period.
Products are exported mainly to the US and the EU, with each market absorbing about one-third of shipments. Companies cater mostly to OEM clients, including Target, Kmart and Wal-Mart in the US and Carrefour in Spain.
The following are some of the key trends we see in China's luggage industry:
- The stronger value of the yuan against the US dollar, and higher material and labor costs are forcing makers to raise export prices. Even with keen competition, suppliers will adjust quotes upward by as much as 15 percent in the months ahead.
- Rising costs are also leading many companies to close down or move their production facilities to other low-cost manufacturing countries. About 15 percent of Hong Kong and Taiwan-invested enterprises have already stopped operations in mainland China, and more are expected to follow suit in the coming months.
- To survive, companies are focusing either on the promotional or upscale market. For the former, suppliers are releasing one- compartment designs that are often frameless to reduce weight. Midrange and high-end models, on the other hand, have EVA reinforcements to enhance shock resistance. Some of them come with laptop sleeves as well.
China luggage makers produce softside, hardside and hybrid models. These are also the scope of this report.
While most suppliers offer a range of luggage across all categories, some specialize in one or two lines. More than 60 percent of the companies in this report specialize in one or two types of luggage, and the rest offer all product categories for export. Suppliers focusing on only one type of luggage usually offer softside models.
Key Topics Covered:
Main production centers
Products & prices
Production & exports
Export prices, export sales, major challenges, target markets,
capacity expansion plans, product trends, efficiency, capability
Top 20 exporters
Top-selling export products
SUPPLIER CONTACT DETAILS
For more information visit http://www.researchandmarkets.com/ research/ae0eb5/china_sourcing_rep
Source: Global Sources
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