Total newness captured this season from the top 10 brands with the largest assortment counts in the luxury segment was recorded at 3,876 items. Prada led the pack with 685 items (refer to Chart 1). The brand also had the highest new-in rate at 65%, supported by strong full price sell-out rate at 64%, proving high demand with no signs of slowing down.
Prada and Miu Miu topped the chart with more than 60% new-in rate respectively, despite the latter having 2x lesser assortment SKUs count with a relatively low sell-out (refer Chart 1).
Miu Miu’s youthful aesthetics might have failed to appeal to shoppers, as the rest of the brands ranked were more sophisticated yet positioned within a similar price range of above USD 1,000.
Saint Laurent, Gucci and Fendi greatly outperformed sell-out rate against new-in rate respectively, suggesting missed opportunities (refer Chart 2).
Valentino and Chloé performed well in the season with sell-out rates marginally exceeding new-in. Valentino, typically celebrated for its couture dresses, crept up with the 2nd largest bag assortment this season. The brand continues its success with Rockstud collection, first debuted in 2010 with celebrities like Jennifer Lopez and Olivia Palermo seen sporting accessories from the collection.
Newness launched this season was driven by Crossbody and Totes which contributed 48% to total new-in.
Despite only contributing 6% to total, Bucket Bags recorded the highest average of newness injected month-on-month.
The Mini Bag trend was prominent on the runway this season, also showcased on the 2019 catwalks – from the miniature necklace bags to the ‘90s shoulder bags. The stable monthly movement and high sell-out contribution sealed its popularity among the consumers (refer to Chart 3).
Belt Bags enjoyed a style revival although its new-in numbers were not as high as other subcategories. Celebrities like Kendall Jenner and Kaia Gerber were among the driving forces of the popularity, which validated its near balanced sell-out contribution against new-in.
Crossbody Bags, a style that was not so much influenced by fads, remained most popular among consumers as sell-out rate outperformed new-in.
Overall, major style trends spotted from the new-in assortments in this segment showed a full return to the ‘80s and ‘90s era across the leading brands and subcategories.
More than 900 new-in SKUs (more than 20% of total new-in) sported the edgy bike-lock chain style and was prevalent especially in crossbody bags, mini bags and clutches.
The Logomania trend saw a surge in popularity across bags as more than 800 newly launched SKUs were heavily decked with logos, giving this ‘90s style a major return.
Another trend spotted this season included croc-effect handbags – an injection of luxe and polish look to anyone’s wardrobe.
Total new-in for the premium segment in this season was recorded at 2,434 items. Rebecca Minkoff topped the list with 492 items (refer Chart 5). However, on productivity, Coccinelle trumped with over 83% newness supported by equally strong full price sell-out rate at 85%.
Coccinelle’s strong performance could be credited to its affordable price point and the appeal of its simplistic design.
MICHAEL Michael Kors, DKNY and Furla also performed well with sell-out rate marginally surpassing new-in rates (refer to Chart 6).
Though having a high sell-out is ideal, See by Chloé showed signs of missed opportunities with limited newness yet garnering a whopping 70% full price sell-out rate at a much higher price range (2x higher than its counterparts).
On the other extreme, ZAC Zac Posen recorded the lowest sell-out despite its strong newness, presumably still lacking on brand awareness for its accessory line, as it is more recognised for its primary namesake label, Zac Posen.
Kate Spade New York, Marc Jacobs and Tory Burch saw a huge gap between new-in rate and sell-out despite having launched a high number of new-in products during the season.
The new-in products launched by the premium brands were mostly comprised of Crossbody Bags, which contributed to 40% of total new-in.
Most top 5 subcategories, however, showed a declining trend in the monthly new-in movements, indicating slow stocking on trending styles among the premium brands.
Mini Bags indicated a strong key style that transcended from the luxury segment as its sell-out marginally outperformed the new-in launched, signalling a decent performance.
Despite having a low volume of new-in, the Belt Bag trend proved to be popular as its new-in contribution matched its sell-out contribution, plus its positive monthly new-in movement signified that it was trending during the season.
Top Handles showed an increment towards the end of the season, possibly indicating a key style that would continue to be popular in the next season.
