Luxury menswear market growing at a rate almost double that of womenswear

The luxury menswear market has been growing at a rate almost double that of womenswear, say the recent figures from global consultants Bain & Co. The men’s luxury fashion market (40% of the global market) is growing at about 14 percent a year, while luxury womenswear is growing by a mere 8 percent.

This change is possible thanks to the rising interest in designer brands in China, where men comprise three quarters of the luxury goods market. But the rising interest in men’s fashion on a global scale is a fact.

2011 has also seen the expansion of menswear online with the launch of web boutique Mr Porter (Net-a-porter’s separate men’s e-commerce site) and members-only shopping site Gilt Groupe launching its first full-priced men’s fashion site Park & Bond back in August.

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In the near future Paris and Milan menswear fashion weeks will compete with New York and London. The two cities will dedicate a separate week to men’s apparel.

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