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"Menswear category is slated to register growth of 2-3% per year with a market size of $570 billion and annual revenues of $333.4 billion, according to a recently released report by Fashionbi. The Increased consumer spending, global companies exploring untapped markets are the reasons leading to this stupendous growth."
Menswear category is slated to register growth of 2-3% per year with a market size of $570 billion and annual revenues of $333.4 billion, according to a recently released report by Fashionbi. The Increased consumer spending, global companies exploring untapped markets are the reasons leading to this stupendous growth.
The credit for this stupendous performance goes to the consumers going digital and adopting e-commerce as their favoured choice. Fashionbi found that over the last three years, ecommerce has grown by a whopping 127%. With size and revenue on an upswing along with increased consumer spending, menswear has witnessed 18% uptick in purchases over the last five years. Today’s youth is not restricted to basic functionality; they are coming of age with latest style and trends, marking their bold statements.
“The growing fashion-conscious men consumers, their tendency to spend on more high-end durables and functional fashion items and the upcoming men influencers that have highly impacted their fellow men audience - these all factors paved way for increased sales in the menswear segment," said Ambika Zutshi, CEO, Fashionbi, Milan.
With fashion becoming no-holds-barred affair, fashion brands are experimenting with unisex styles. According to the report, ‘Menswear Industry Market Research’, the fashion goes genderless and menswear has overtaken women’s wear in terms of global growth. Menswear, for example, grew by 1.9% to $29 billion in 2015, while women’s wear saw a 1.6% increase in growth.
Giving Asia-specific perspective, Zutshi said, “Asian markets have been quite ignored when it came to promoting men’s fashion. However, statistics show that Asian men are growing in every sense, in terms of personality, income/social status, fashion-consciousness and knowledge of the available goods.
” YUMMIES, coming of age, new categories
Lately young urban professional men (YUMMIES), categorised by being status-conscious, affluent and late-to-marry have grown in numbers. Fashionbi highlights that the YUMMIES consumer segment has taken off due to omnichannel retail, which has assisted in ensuring consumers, are well-informed through digital and social media pushes. Similarly, same-sex, double-income-no kids (DINKs) in the US have a much higher disposable income than heterosexual DINK couples. Same-sex DINKs have an average household income of $103,980 whereas heterosexual DINKs see an average HHI of $62,857.
Performance wear is also making its presence felt in the menswear category. As athleisure responded to consumers' demand for comfort and utilitarian fashions, performance wear has answered consumer interest in functional, well-designed pieces that fit within an active lifestyle. For menswear, this trend has been doing wonders with brands designing semi-tailored clothing with functionalities such as washability and wrinkle resistance. Italian menswear brand Ermenegildo Zegna blended the performance of its Zegna Sport line with the fine tailoring of the Z Zegna Collection.
A training program has been launched for some eight lakh readymade garment workers in Bangladesh.
Safety in the workplace has become a major priority in Bangladesh. This training is expected to contribute greatly to that goal as both workers and employers will benefit from improved safety practices.
In Bangladesh the readymade garment industry accounts for 80 per cent of exports and, as a result, is of paramount importance to the economic health of the country. Despite its economic importance, or perhaps because of it, enforcement of building codes for factories has historically been lax, leading to an entire industry rife with unsafe working conditions.
The lack of fire safety was well known due to a long record of fatal factory fires, including a fire in late 2012 that killed 112 workers. By early 2013, several international retailers with supply chains based in Bangladesh factories had already embarked on fire inspection programs, but until the Rana Plaza tragedy no one considered structural safety to be a fundamental concern.
This catastrophic incident was one of the deadliest factory collapse in Bangladesh and it propelled the global readymade garment industry into action to make Bangladesh factories – and hence the four million Bangladeshis who work in them – safer.
From haute couture to high street, 3D printing could revolutionise what we wear and how we shop.
It means consumers can order an outfit on their way home to find it freshly printed out and ready to wear when they open the front door.
As of now 3D-printed jewelry and spectacle frames are increasingly commonplace, and the technology has been used in shoe and bag design. The lightweight materials available in the 3D printing world have allowed designers to push the boundaries of volume and dimension to create previously unrealistic designs.
Until now, couture clothes have been unique pieces, painstakingly designed and crafted by highly-skilled artists to fit the wearer’s form exactly. The nature of couture production meant that it was the exclusive purview of the rich and famous.
However, 3D printing is on track to democratise the world of couture. There may come a time when domestic 3D printers will be sophisticated enough for consumers to scan their own bodies, send their measurements to online retailers and instantly download the blueprint for their chosen outfit, fitted exactly to their body, to print out at home.
Even in the last three years, there has been a marked improvement in the functionality of 3D textiles, from garments initially resembling body armor to the development of more flexible textiles.
The third edition of the Global Denim Awards will take place on October 26 in Amsterdam at De Hallen Studios. The event links progressive design with technical innovation by partnering 11 emerging fashion designers with 11 of the most progressive denim mills worldwide.
Instead of a traditional runway show, models will present themselves on three spectacularly lit stages. It will be attended by a carefully selected audience of 500 international denim professionals from mills, wash houses, suppliers, brands and retailers.
In two years, Global Denim Awards has almost doubled its number of participants and has become the world’s premier platform for the future of denim design, innovation, sustainability and craftsmanship.According to co-founder Mariette Hoitink (CEO of fashion recruitment and consultancy agency HTNK), the unique thing about the Denim Awards is that it puts some of the most innovative mills worldwide front-row. In this process, the Global Denim Awards is also a preview to the future, since brands will have to offer transparency regarding where and how their products are produced within the next few years.
A selected few designers travel to a number of destinations like Turkey, Taiwan, Thailand, Spain, India and China. They will spend at least one week at their partnered mills in order to develop an in-depth understanding of the mill’s latest technological possibilities related to fabrics, washes, finishes, treatment and sustainable manufacturing processes.
The designers will work together with the mill to develop on the spot a capsule collection comprising of five total looks which will be presented during the Global Denim Awards show. The collections will be judged by a panel of international denim experts who would evaluate the overall look that has resulted from the fusion of design and the innovative nature of the denim fabrications.
The winning designer will be awarded €10,000. An additional award would go to the mill with the most innovative fabric. The winning collection would then travel to Kingpins Shows in New York City and Hong Kong before returning to Amsterdam for Denim Days 2017.
The Secret Plus Core presented by Italy-based Tonello represents a new, fundamental step towards the future of garment finishing. This new technology can be applied to Tonello made washing and dyeing machines of various sizes and is capable of creating uniform or contrasting effects that bring out the full potential of a garment.
It also lets one apply a broad range of products which it remarkably lowers the consumption of. The process is fast, completely automatic and programmable. It ensures top performance and takes place inside the machine, requiring no special preparation or tying.
Result of more than 10 years of experience with Tonello’s Kit Batik, Core is fully interfaced with the machine and can be implemented in any production cycle without interrupting the process. Core also drastically reduces water use. For the first time, it makes it possible to create special dyeing with an extremely low environmental impact with a 1:1 liquor ratio.
A global premium denim jeans market research says the trend of yoga pants like products is growing as 2020 forecasts say these products are in demand. Levi's has launched a new line of stretchy jeans and also opened new research lab to investigate new ways to make stretch pants to capture the market share, many other companies are in the same pursuit.
The analysts forecast global premium denim jeans market to grow at a CAGR of 8.09 per cent between 2016 and 2020. According to the premium denim jeans market report, one driver that will lead to the growth of this market is the preference for recycling jeans from plastics and other materials.
Sustainable jeans are not only a concept for the developed nations but are also gaining prominence in developing countries including India and China. Indian designers have developed eco-friendly denim that is manufactured using 100 per cent organic cotton without using bleach. One such example is its label 11.11.
Asia-Pacific (APAC) will be the fastest growing premium denim jeans market during the estimated period. In this region, China will emerge as the key revenue contributor to the region's market. The widespread availability of premium denim jeans has resulted in the momentous growth of the market, especially through online sales channels.
Factors such as the increasing penetration of premium denim jeans brands and their rising awareness among consumers are also driving the prospects for market growth in the region. Skinny jeans constitute the highest selling segment in the market due to their comfortable material, which allows flexible movement and versatility.
The women's premium denim segment dominated the global premium denim jeans market and will retain its dominance over the predicted period. Individuals belonging to the age group of 18-34 years are the primary consumers of premium denim jeans. Women customers follow the style trends through magazines and social media and perfect fit and style are the major factors that drive these fashion conscious shoppers. The introduction of four-way stretch, softer cotton, and other unique features such as heat teach, anti-odor, and windproof lines in denim jeans will attract more female buyers over the next four years. The following companies like LVMH, Gap, Kering, PVH, Levi Strauss, VF, Armani Exchange, Citizens of Humanity, Dkny Jeans, DL 1961, Differential Brands, Naked and Famous Denim, Paige Denim, Guess and William Rast are the key players in the Global Premium Denim Jeans Market.
The Economic and Technical Cooperation Agreement (ETCA) between India and Sri Lanka will be signed by the end of this year, said Ranil Wickremesinghe, prime minister of Sri Lanka. He also stated that the governments of the two countries were working to expand the India-Sri Lanka Free Trade Agreement to include services and investment as well.
The ETCA is expected to promote growth of up to $500 billion within the sub-regional economy. It will also help Sri Lanka get wider access to the rapidly growing Indian market. The announcement to sign the ETCA, which has been under negotiation for some time now, was made by the country’s prime minister at the Inaugural Plenary at the India Economic Summit organised by the Confederation of Indian Industry (CII) and the World Economic Forum (WEF) in New Delhi.
Sri Lanka was in the process of negotiating Free Trade Agreements with several countries. India would have access to not only the Sri Lankan market but also to markets in Singapore, Japan and China after these agreements came into play. Wickremesinghe also invited Indian companies to invest in various sectors in his country as he aims to convert it into a logistic, finance and business hub of South Asia.
More than 60 delegates representing cotton textile professionals in India attended an invitation-only on Cotton USA seminar in Mumbai recently. The seminar was meant to explore how in these changing and challenging times, cotton can have an increased importance in the textile value chain.
In his keynote address on Growing the Passion and Spinning the Fashion, B.K. Patodia, chairman of GTN Textiles Group highlighted on how the success story of cotton primarily comes from the strong linkages between passionate cotton farmers who have passed on a legacy and the spinning mills that have catered to the ever-changing needs of fashion through their innovative approach in spinning. Supima President and CEO Marc Lewkowitz gave an update on Supima production and consumption. He also shared the experience of brands using Supima and how the brand is making stronger inroads within the premium clothing value chain.
Founder member of e-tailing India Ashish Jhalani gave insights on the e-commerce business in India with a special focus on fashion e-tailing and how it’s reshaping the fashion space. Sean Callanan (CCI Manager of Europe, South Asia and Africa), provided updates on U.S. cotton acreage, production and projected exports as well as the latest information regarding the same data points for global cotton. The seminar also offered an opportunity for textile manufacturers and retailer and brand sourcing experts to discuss the benefits of increased collaboration through the panel discussion on Raw Material Planning in today’s Dynamic Consumer Environment.
Representatives of more than 20 prominent textile mills attended, the seminar along with 12 Cotton USA licensees like Raymond, Vardhman, Welspun, Trident, GTN Textiles, Ambika, Morarjee, Brandix, SA Aanandaan, Pee Vee Textiles, Ramco Group Textiles and Arun Textiles). Other than these leading domestic apparel brands such as Madura Lifestyle and Raymond, and the international brand Ralph Lauren also participated.
Cotton Council International (CCI) Executive Director Bruce Atherley offered an update on CCI’s promotion of U.S. cotton worldwide and encouraged the multi-national cotton fraternity to think innovatively to bring cotton to the forefront. Cotton USA licensees shared their candid views on using U.S. cotton and other growths in terms of cotton quality and performance during the panel discussion title What Delights Indian Spinners.
"75 top-end exhibitors gather up in Shanghai at Milano Unica Pavilion to showcase their fashion prowess in Hall 6.2, inside SalonEurope Shanghai. Bringing in new consumption pattern and evolving consumer tastes, this pavilion infuses freshness into the entire trade show."
75 top-end exhibitors gather up in Shanghai at Milano Unica Pavilion to showcase their fashion prowess in Hall 6.2, inside SalonEurope Shanghai. Bringing in new consumption pattern and evolving consumer tastes, this pavilion infuses freshness into the entire trade show.
Amid global uncertainties and a falling GDP, China continues to hold nearly half the global luxury market, because of the growing purchasing power of the consumers. Chinese fashion market is witnessing a sea change. Till now, luxury goods were considered a symbol of wealth and status, today it’s all about enhancing experience. The shift has been brought by the so-called millennials, who are educated, well-travelled and tech-savvy, who have absorbed luxury since childhood from their parent’s generation and are now looking for niche high-end and bespoke products.
“The 10th edition of Milano Unica China confirms the strategic importance of made in Italy in this country. We thank the Italian Ministry of Economic Development and ITA (Italian Trade Agency) for making it possible through their economic and organizational support. I also wish to empasise that beyond the menswear textiles, MU China has provided a strong womenswear offer since the beginning and this sector is undergoing the fastest-growing increase in the Country,” says Ercole Botto Poala, President, Milano Unica.
“75 exhibitors feature the F/W 17-18 top-end collections between October 11-13 fair days at Mu China Pavilion and the selected clients’ choices will be guided by the traditional a much appreciated Trend Area located inside the Pavilion of beauty and culture,” states Massimo Mosiello, General Manager of the exhibition.
On asking about the reduced number of exhibitors, Paola says, “I agree that during this edition, the number of exhibitors is much lesser than earlier editions of Intertextile Shanghai edition. This is primarily because many of the earlier exhibitors are not repeating either because they have already got their buyer network done or they are not big enough to keep investing repeatedly as it is not just exchanging business cards, making final business is important, which is not happening very fast. Secondly, with earlier editions of participation of Milano Unica in Intertextile has resulted into many buyers visiting Milano Unica show in Milan earlier this September. Hence, those exhibitors who have already done business with their Chinese buyers have not participated.” Elaborating further, he adds, “I don’t think the number would now ever increase much, unless this exhibition is held in mid-September as business cycles and season requirements are changing quite fast. However, we are happy to note that the bilateral ties between Italy & China are improving.”
Next Milano Unica appointment will be hosted in Milan, at Fieramilano RHO, between February 1-3. With the change in month, Milano Unica F/W edition will be held in July, instead of September from 2017.
High-end streetwear helped boost global sales of luxury personal goods by 5 percent this year to an estimated €263 billion. While streetwear has proven to bring the next generation of consumers into the luxury fold, it is a double-edged sword.
Luxury brands are adapting to changing times and striving to connect with a younger and diverse customer base, grooming the next generation of loyal luxury customers.
Luxury brands and retailers are establishing exclusive design and marketing collaborations with streetwear labels, hip-hop and rap recording artists and entertainers, and fashion and social media influencers.
Several luxury goods labels have profited from hip-hop and streetwear-inspired collections over the past few seasons. Multiple luxury fashion houses, as well as the Louis Vuitton and Givenchy brands, have been partnering with streetwear brands and introducing sneaker- and streetwear-inspired products.
Multiple luxury fashion houses, as well as the Louis Vuitton and Givenchy brands, have been partnering with streetwear brands and introducing sneaker- and streetwear-inspired products.v
Louis Vuitton partnered with the Supreme skateboard brand on a design collaboration that apparently generated €100 million ($117 million) in sales. The collection, which was sold in pop-up stores in major cities worldwide in June 2017.
According to the report the luxury goods companies will increasingly need to innovate and keep up with millennial and Gen Z trends in order to capture and grow sales among the younger generations. The historically conservative luxury goods industry is striving to attract a more diverse and younger client base.
