The total value of the wallets market in urban India for youth is estimated at Rs 555 crore a year.
The market for leather look-alike wallets is 13 per cent of the total wallets market and is valued at Rs 70 crore.
The total volume of their market in urban India is estimated at 15 lakh units a year, which is 20 per cent of the total market for wallets.
On an average, men spend Rs 290 a unit on such wallets while women spend Rs 330 a unit.
Most consumers prefer buying these wallets from multi-brand outlets (27 per cent).
Thirty-one per cent consumers buy them shopping at local neighbourhood/colony markets.
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