The development of the luxury footwear market is more forward-looking and creative compared with other footwear markets because it faces higher income groups. Also, the processing technology and quality standards are stricter, and the brands have a stronger sense of social responsibility, which enables luxury footwear to maintain a relatively stable market share even when economic development is stagnant during the pandemic.
Brief Analysis of Luxury Footwear Market
According to statistics, the market size of luxury footwear was valued at USD31.61 billion in 2019, and it is predicted to grow at a compound annual growth rate of 5.6% in the next 7 years. The impact of the epidemic on the economy cannot be ignored, as is the shoe material industry. The blockade measures between countries and the home isolation measures of the community have interrupted some supply chains and sales channels. Despite this, the luxury footwear industry has not been let down in adversity but has recognized social development trends and consumer purchase needs and adjusted operations strategy. The concept of sustainability has gradually taken root in the hearts of the people and has expanded from daily life to industrial production. As early as February 2019, Jimmy Choo's chief designer Alfredo Piferi unveiled a sustainable luxury footwear collection at Milan Fashion Week, made of sustainable recycled materials, recycled polyester, etc.
In addition to insisting on the concept of sustainability, the luxury footwear industry, which is mainly consumed by high-income groups, has the largest market scale in North America and Europe, because the region is rich in the majority, and the increase in disposable income, the requirement on brand value and the pursuit of fashion has increased the demand for luxury footwear. In addition, the development momentum of the Asia-Pacific region is also very strong, and an increase in market investment in the region is also necessary.
Formal Luxury Shoes and Casual Luxury Shoes
When it comes to the stable development of luxury footwear, gradually segmented market demand is also a major cause. Formal luxury footwear and casual luxury footwear also shine in their respective markets. The individualized and customized market demand provides development direction and space for the two kinds of luxury footwear. On the one hand, for customized leather shoes, engraved patterns and openwork elements all contribute additional commercial value and artistic value to luxury footwear for formal occasions, satisfying people's fashion pursuits. On the other hand, casual luxury footwear also plays an important role in the wide application on multiple occasions. And the market size of casual luxury footwear in the next 7 years is anticipated to grow at a compound annual growth rate of 5.6%. As the fastest-growing segmented footwear market, the continuous pursuit of comfort, safety, and sustainability is the source of power for the development and progress of casual luxury footwear.
A New Processing Method of Footwear - Laser Processing
Especially luxury sneakers, the pursuit of quality of life is not only reflected in the higher fashion taste and personality releasing, but also in the higher standards of health, safety, and comfort. Luxury sports shoes have both. The development and application of new materials meet the requirements of safety and ensure the safety and comfort of our travel or fitness. Moreover, the innovation of new processing technology is also creating a rich variety of styles and pattern textures. For example, laser cutting, engraving, perforating and marking technologies have largely made up for the vacancy in the field of personalized customized shoes. People's pursuit of individuality never stops, and the innovation and development of processing technology should never stop following the needs of consumers. The processing of customized footwear was mostly done by hand-cutting and sewing in the early days. The efficiency is not only low, but it is incapable of facing more and more individual needs. The application of laser processing technology in the field of footwear can make up for this deficiency.
Because of its high processing flexibility, the laser cutting machine can cut different shoe shapes suitable for different people's foot shapes. High-precision cutting and heat treatment ensure accurate shapes and smooth edges. Coupled with non-contact processing, the shoe material will not produce any deformation during laser processing. Scientific research shows that the impact of running on the body is 8 times that of walking, so the processing of the midsole of the shoe material, which is considered to be the core part of cushioning, is very crucial. In order to keep the cushioning performance of the midsole material to the greatest extent possible, while saving materials, laser cutting technology is definitely a good choice.
Furthermore, laser engraving and marking technology can create a variety of patterns and textures on the upper and sole, which can not only meet the customization needs of consumers, but also engrave the brand's logo to enhance brand recognition. The laser can make dense small holes on the upper, which can expand the ductility of the material while ensuring air permeability. Not only can it be used in the field of sports shoes, laser cutting, engraving and perforation technology can also be applied to leather shoes. Leather perforation and engraving are especially widely used.
Another very important point is that laser processing is suitable for a variety of materials, which is in line with the current environmental protection concept, and a variety of recycled polymers can be processed by laser.
If you are interested in laser processing, or want to try laser cutting, engraving, perforating and marking technology in the field of footwear, please feel free to contact us!