Bags keep looks fresh in tough times
09/10/2009
Luxury goods companies may have seen their sales hit hard by the global economic situation, but leathergoods, handbags and other accessories have been a saving grace because consumers are using them to freshen up a look from previous seasons, according to Reuters.
At Paris Fashion Week, Simone Rondelli of the Supperclub boutique in Bologna told the news agency: "There's less demand for evening wear, for ceremonies, but there's more demand for bags, shoes and foulards because people use it to renew their look."
In the second quarter of this year, sales at the leathergoods and saddlery division at Hermes rose 21% on a like-for-like basis to EUR 228 million, accounting for more than half of total revenue.
Dior chief executive, Sidney Toledano, told reporters backstage at his company's catwalk show that accessories would continue to be "extremely important".
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