
Trends have to be
predicted taking into consideration possible drastic changes. Fashion consumers
are becoming more conscious of the environment. They prefer eco-friendly
material, conservative use of resources, reduced emission of pollutants,
greater social commitment and fair treatment of employees in production
facilities.
The presence of a large
number of players in the sector has intensified the competition to garner a
larger chunk of the market share of this lucrative industry. On the demand
front, consumers are rapidly aligning towards new designs and innovative
leather offerings to ensure they are in sync with changing fashion trends.
Another factor that needs to be taken into account is the rise of the BRICS (Brazil , Russia ,
India , China and South Africa ) economies. Their
dominant position in the labour-intensive textile and leather industries makes
it difficult for other countries to match them.
Owing to high demand,
the leather goods industry is on a growth spree. Forecasts are, this vertical
will grow at a CAGR of 3.4 percent over the next five years and will touch US$
91.2 billion by 2018.
The softest, most
luxurious leather comes from the skin of newborn or even unborn calves.
Sourcing this leather is unethical. Though it is a very durable and flexible
material, the process of tanning leather is incredibly toxic. Most of it is
chrome tanned, which results in carcinogenic chromium (VI) being pumped into
the water table.
In many countries,
quality standards are very high. Leather manufactures are trying to produce
more sustainable products by prohibiting harmful dyes and chemicals.
Unfortunately, only a few customers are willing to pay more for these 'greener'
products. One pioneer of this trend is renowned fashion designer, Stella
McCartney, who is using eco-friendly material for her shoes and handbags.
Innovation in luggage
and leather goods with new technologies and design is the major driving force
for the industry. LVMH Moet Hennessy Louis Vuitton SA, Coach, Inc., Kering SA,
Prada S.p.A, and Hermes International SCA are some of the major manufacturers
of the luggage and leather goods industry.
Professors at the University of Delaware chemical department are
developing artificial eco-leather that can be used to make shoes, handbags and
other fashion accessories. Richard Wool, director of University
of Delaware , said at the 17th Annual
Green Chemistry and Engineering Conference in Bethesda , "We are basically taking
aerospace engineering of highly complex materials and using it to make wearable
items that offer a much better design for consumers, than the original design
from an animal would be. And it is all green and sustainable."
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