World Luxury Magnates Battle For Men'S Wear Market
Affected by China
market
Driven by the demand for luxury men's clothing, industry giants such as LVMH and PPR have increased their investment in this market.
Bain, a consultancy, predicts that the luxury men's clothing market will account for 40% of the global market capacity, reaching 180 billion euros ($240 billion), and is still growing at an annual rate of about 14%, while the annual growth rate of luxury women's clothing is only 8%.
"Men's clothing is still underdevelopment relative to women's clothing, so there are many opportunities.
"Jean-Marc Bellaiche, a consultant at Boston consulting firm, said.
China is global
Luxury goods
The fastest growing market for consumption and annual sales volume
increase
The rate is about 20-25%, of which male consumption accounts for 3/4, and the total value is about 23 billion euros.
"According to the current growth rate, the 70% of the global luxury market growth will come from China in the medium to long term.
"Roland Begg (Roland Berger) partner Bernard Malek thinks.
The Asia Pacific analyst of CLSA expects that before 2020, the Greater China luxury goods market, including Hong Kong, Macao and Taiwan, will account for 44% of the world's total, and currently only 17%.
Paris Spring Department Store Fashion purchasing director Tancrede de Lalun believes that the men's wear market will be "explosive growth".
Because male consumers have a strong desire to buy, "there is no limit."
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