The Truth About Handbags

LONDON, United Kingdom — Sales of accessories have rocketed in the past decade and, today, account for almost 30 percent of the total global luxury market, up from 18 percent in 2003. Mostly this growth has been driven by handbags.

For consumers, handbags are cost-effective status anchors that can be mixed and matched with other items to suit a wide range of occasions. For brands, handbags offer attractive retail economics, characterised by…