Specialised trade of leather goods hopes for the fourth quarter
After positive business developments in July and August, sales of the German leather goods retailers were rather disappointing in September. Despite this, the industry has high hopes for the remaining quarter of the year.
Fashionable and low priced handbags have been selling well as has luggage and rucksacks. Business articles, however, are affected by ongoing depressed consumption, according to Axel Augustin, chief executive of the BLE (Association of German Leather Goods Retailers). According to current figures of the Federal Statistic Office, sales decreased by 2.8 % in the first half of 2004. Last year leather sales at retail fell by 10.3% in the first half.
Despite reduced consumption many companies have achieved a growth in sales in the current year. Some of them benefited from closures of competitive businesses. The BLE estimates that over 2000 leather shops are currently operating in the domestic market. According to the latest official statistics, there were 2236 specialised leather shops in 2002.
