A MAN’S WORLD: The men’s wear market is gathering steam, according to the British Fashion Council, which released a host of statistics on Monday to launch the second edition of London Collections: Men.
Citing Mintel, the BFC said the British men’s wear market is anticipated to grow 16 percent between 2011 and 2016. In 2011, it is estimated to have grown 3.2 percent to 9.9 billion pounds, or $15.94 billion, with growth fueled by a rise in the average selling prices of men’s wear. Separately, according to the BFC and Bain & Company, men’s items now represent 50 percent of the global luxury apparel market, boosted partly by male consumers in emerging markets, especially Asia. China is a major source of growth, the BFC noted.