Menswear: King Felipe effect accessorises tailored revival

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Usually it is the Princess of Wales’s outfits during the Wimbledon finals that set social media ablaze. This year it was the polished tailoring of Spain’s King Felipe that went viral.

This is not an anomaly. The rise of menswear fashion blogs has helped drive sales in an industry traditionally seen as the poorer economic cousin to the womenswear market.

Globally, womenswear accounts for 47 per cent of clothing sales, with menswear 31 per cent and the remainder children’s, according to Euromonitor International. But growth in menswear is expected to slightly outpace the wider market over the next four years.

Menswear revenues are forecast to increase on average 5 per cent a year between 2022 and 2027 to reach $639bn, according to market analysts at Statista.

Younger men are far more interested in apparel than their fathers. The athleisure wear trend — while not favoured by King Felipe — is another driver. In the UK, men’s shopping habits have also been less affected by the cost of living crisis than those of women, notes research group Mintel.

Fashion houses are, unsurprisingly, on top of the trend. Consider the recent high-profile appointment by LVMH of recording artist and producer Pharrell Williams as creative director of its menswear.

The fashion press applauded Williams’ debut collection in June. Barclays says it will add to the momentum behind the LVMH brand at an important time. Investors in luxury stocks are jittery over the state of US and Asian markets.

But do not expect high street retailers to go rushing into menswear if they have not already. Some have been burnt before.

Take UK chain New Look, which in 2015 opened standalone menswear stores, only to close them four years later. It now sells men’s clothing online.

Unisex ranges are also gaining popularity among the younger generation. That may be a better way for retailers to avoid repeating fashion faux pas, and even reduce inventory.