Luxury Brands Compete For Men'S Wear Market

With the increasing demand for men's clothing in Chinese market, large luxury groups such as LVMH and PPR have begun to accelerate investment in this field, hoping to seize market share in time.

Consultancy Bain&Co predicts that the men's wear market, which accounts for 40% of the global apparel market, will grow at a rate of 14% per year, which is two times that of women's clothing.

Jean-Marc Bellaiche, an analyst at Boston Consulting Group, said: "compared with the women's wear market, the men's wear market is not yet fully developed.

After PPR Group acquired Italy brand Brioni, LVMH group announced this month that it will make a large-scale adjustment to Berluti menswear brand.

Berluti brand is famous for its 4000 Mens men's shoes. Johnny Depp and Ryan Gosling have worn the brand's men's shoes.

PPR said the Brioni brand will launch its first men's show in Paris in January next year. This series is designed by Alessandro Sartori, which has served as Ermenegildo Zegna.

If Brioni and Berluti brands want to grab the men's wear market, they must do more preparatory work, such as Hugo Boss, Burberry, Armani, Dunhill, Ermenegildo Zegna and other brands have been standing firmly in the men's wear market.

Jason Ding, a partner from Consultancy Roland Berger, said: "visibility is very influential among Chinese consumers. Visibility is a key part of opening up the Chinese market."

Brioni brand has a high reputation in Europe and North America, but few people in China and other Asian regions know that Brioni brand wants to further open the Asian market with leather products.

Berluti brand is led by Antoine Arnault, the son of Bernard Arnault, President of LVMH group. Its popularity in China is much higher than that of Brioni brand, but men's clothing share is not high, and sales are only 50 million euros.

It is estimated that the Chinese market will account for 44% of the global market share by 2020. Hermes group also said its sales of men's luxury goods were much higher than that of the New York region.