POV: MENSWEAR GROWTH TO OUTPACE WOMEN’S
IT’S A MAN’S WORLD
According to a crop of high-profile reports carried out by global analysts and research firms, the men’s wear sector is booming, growing 1.5 times faster than its women’s counterpart. In 2014, according to Mintel, the men’s industry advanced 4.5 percent compared to 3.7 percent of women’s wear. By 2019, men’s wear is poised to reach the $40 billion mark in worldwide sales. Luxury companies are certainly riding the wave of success with invigorating and specific attentions on emerging countries such as Africa, namely Lagos and Nigeria, as well as leveraging on the spending habits of international travelers. Moreover, high-end men’s wear companies are determined to avoid brand confusion by choosing a more focused and coherent strategy in terms of product, tighter price ranges and luxe positioning. Obviously the consumer relationship is defined by social media outlets and e-commerce driven by experiential events to encourage store visits, focus on mobile technology and devices for tourists shopping abroad. That said, men still prefer to be targeted in non-fashion contexts such as with news, lifestyle and professional areas. Furthermore, compared to women, they tend to invest on more traditional quality pieces with a longer life span although the ath-leisure wear and performance compartments are going strong among those men seeking function over form.