Posted:26-January-2017
Booming business for menswear
Menswear is a booming business in the UK with growth in 2015 up 4.1% in just one year. Since 2010 the market has grown from £11.4 billion to £14.1 billion in 2015. Mintel is predicting further growth of 22.5% between now and 2020.
Made-to-measure sales are up 22% year on year and are set to rise further still as men’s expectations change in favour of quality and fit, with greater interest in style and design. 12% of men purchased a suit in 2015 (around 2.4 million, with some making multiple buys) and many favouring smarter casual wear.
Mintel’s senior fashion analyst has identified men aged 45-54 as showing above average interest in styling and fit, with 50% taking an interest. Another fact was that younger men are more interested in quality than price, with 54% focusing on quality.
Carol Rawson, Managing Director of Suit the City, says, “We are delighted that men taking a greater interest in quality and style; growth in the market is testament to that shift in attitudes and shows that it is a perfect time to invest in a franchise.”
It seems that men are finally demanding more from the industry and Suit the City is perfectly placed to meet that demand. Find out more by requesting our free and non-obligatory franchise prospectus here.
Interested and want to know more about Suit the City ?
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