The UK men’s fashion market is set to grow 27 percent between 2013 and 2018 to a value of 16.4 billion pounds, according to Mintel data released by the British Style Council. The forecast kicked off the start of the bi-annual menswear showcase, London Collections: Men, which runs until June17.
The BFC figures also revealed that the UK menswear has grown by 18 percent between 2008 and 2013 to reach a value of 12.9 billion pounds. Adding that in the last year, sales in the market have grown by 4.8 percent, with retailers “increasingly turning their attention to men’s wear,” Mintel said.
Commenting on the figures, Mayor of London, Boris Johnson said: “These new figures prove that London is without doubt the home of men’s fashion, supporting increasing numbers of businesses and jobs.
“The fact that menswear is expected to grow by a third in the next 5 years is testament to our unrivalled heritage and the visionary designers dominating our catwalks. Plus the capital’s men are the sharpest dressed around, so it’s time to puff out our plumage!”
UK menswear set to value 16.4 billion pounds
Ed Vaizey, Minister for Culture, Communications and the Creative Industries added: “These figures not only represent the exponential growth of the menswear industry but also show the continuing growth of the creative industry. The sector consistently punches well above its weight, and is a true powerhouse within the UK economy that outperforms all the other main industry sectors.”
This season’s LC:M will showcase more than 70 designers and will host 30 percent more buyers than last season and last year, according to the BFC, a figure linked to the UK Trade and Investment’s ongoing support of the Guest Programme.
LC: M runs until June 17 and features new additions to the schedule including DKNY, Moschino, Joseph, Maharishi, Ede & Ravenscroft, Turnbull and Asser, Tiger of Sweden and Nicholas Kirkwood.