By Mark Seavy 

Bag charms and keychains have long been a staple accessory for purses, but increasingly they are adding panache to backpacks, luggage, and even dog collars. 

The micro-trend is staging a comeback on fashion runways, the streets, and everywhere in between as luxury and pop culture brands—and sometimes a combination of the two—vie for attention while consumers show off their fandom. The global keychain market, which doesn’t include charms, is forecast to grow 10.2% annually through 2030 to reach $3.8 billion (up from $2.4 billion in 2025), according to research firm Deep Market Insights. 

From a historical standpoint, handbags have always been a sign of social status (think Hermès, Dior, and others) as well as values and personal style. But as backpacks and dog collars enter the fray, so too do the charms and keychains. 

Pop Mart, for example, has dozens of pendant charms featuring its The Monsters (Labubu), Skullcandy, Molly, and other IPs blended with The Addams Family’s Wednesday ($56), Sanrio’s Kuroma, and Hasbro’s My Little Pony, along with one using the licensed Ducati auto brand that sells for $192.  

For Pop Mart, internally developed IP combined with licensed properties has been profitable. Global sales of The Monster-based products reached $4.8 billion in the six months that ended in June 2025, up from $626 million during the same period a year earlier and up from $367 million in all of 2023. And Minioso, which forecast opening 510-550 stores this year, is fielding charms in collaboration with Peanuts Worldwide and Disney, diversifying a business that was once much more focused on blind box collectibles. 

“Many of the fan communities are built around figurines, keychains, charms, and the like and Minoso, for example, understands that all bind box all the time won’t likely be sustainable,” Equity analyst Marc Gerstein wrote in a blog post. “The companies are diversifying their revenue and communities are a sure way to boost want-ability, with sports fandoms being a huge example.” 

Whether those collector communities will extend to the pet business is not clear, but pet accessories supplier Jiby is giving it a shot. At the recent Global Pet Expo, Jiby unveiled a licensing agreement with Sanrio for 20-30 characters, including Hello Kitty, that will produce silicon charms that can attach to pet collars, leashes, or harnesses, Jiby CEO Simon Chun said. The charms also can be added to owners’ backpacks to match. Sanrio is no stranger to the charms business, since it previously licensed Crocs for the Jibbitz charms that attach to the company’s footwear.  

“People are throwing the charms on backpacks, but we wanted to give dogs a chance to show off their personality and [for] people match them, and this definitely may be more for the owner than the dog,” Chun said. “Consumers have been asking for it so, for us, it is the perfect brand match-up.” 

These collaborations have come a long way since the first zippered backpacks were invented in 1938 and spread to college campuses in the 1960s and 1970s. JanSport, now owned by Newell Brands, introduced the first “Super Break” lightweight daypack made from Nylon. Its lighter weight became a game changer for the industry, which peaked in sales in 2022 as people began returning to work after the pandemic.  

On the handbag side, Hermès launched into the charms category with Rodeo-inspired charms for Birkin bags in 2005 and other fashion houses followed suit. Fendi showcased furry monster charms in 2013, and Prada’s Miu Miu and LVMH’s Loewe brands brought them back in 2024, the former with a $625 opening price point. 

“The designs can help us rapidly convert a creative IP concept into a best-selling product,” Miniso CEO Ye Guofu said. “We work on IP narrative first, product commercialization second. This ensures that IP develops its own soul and emotional resonance with consumers before products are launched to crystalize the value and not the other way around.”