Social media propels luxury menswear market

The luxury menswear market is gradually gaining on women's apparel, thanks to increased visibility brought about by social media.

Data gathered by retail analytics firm Edited points to a slightly faster growth rate in the men's clothing segment in the next three years, with net gains of 2.3 percent compared with 2.2 percent in women's versions. The menswear market is also predicted to reach $33 billion by 2020, a 14 percent ascent from 2015 figures.

Industry experts believe that the growing interest in luxury men's clothing is sparked by increased exposure in social media where more and more men's fashion influencers crop up. The rising number of previously exclusive women's brands that have branched out to menswear is also pushing the segment forward. Among these designers is Stella McCartney, which debuted a line of men's styles late last year.

While men's fashion magazines have long been recognized as an indicator of trends, they often offer a rigid
perspective on men's styles. Social media platforms, on the other hand, have allowed male shoppers to see luxury apparel in a different light, usually in diverse and innovative ways. Apps such as Instagram, for instance, present an array of perspectives not accessible in major fashion publications.

Growth, however, is mostly in the casualwear segment, which includes T-shirts, bomber jackets and sneakers. This has led to price increases in most apparel items in the past five years, in particular, the last two categories. Edited revealed that the average price of a luxury menswear item is $232.29, a 64 percent hike during the period.

Experts also suggest that social media has perpetuated a culture of immediacy, paving the way for luxury casualwear. Whereas suits and evening wear often require a lengthy and costly tailoring process, high-end casual apparel is easier to obtain.

They likewise believe given the current trends, the menswear market will continue its ascent. Industry players see more investment in advertising and social media marketing, leading to even greater visibilityin the line.