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MENSWEAR TO GENERATE $40 BILLION TO GLOBAL APPAREL MARKET

MENSWEAR TO GENERATE $40 BILLION TO GLOBAL APPAREL MARKET
The global menswear market is definitely making gains, according to research conducted by Euromonitor International. As reported by the research firm, the global menswear sector has advanced 4.5 percent, resulting in $440 billion USD in apparel and footwear sales. The researcher also predicts that by 2019, menswear will be contributing $40 billion USD to the global apparel market, with men’s shirts, jeans, coats and jackets contributing to that number. In comparison, womenswear increased by 3.7 percent in growth in the same period. This increase is attributed to a greater focus on personal style and appearance, as well as larger disposable incomes. According to Magdalena Kondej, head of apparel and footwear research at Euromonitor, “globally, men’s annual disposable income is still 50 percent higher than women’s and while Western markets still spend the most on apparel, future growth is expected to be driven by Asia Pacific.” In addition, both luxury and mass fashion brands have begun focusing on menswear, with the opening of standalone men’s stores as well as revamped men’s departments, increasing attention towards menswear. With New York Men’s Fashion Week beginning this year, among other menswear initiatives pushing menswear, we’ll undoubtedly see fashion reaching out to more men.