Boston, MA -- (ReleaseWire) -- 06/19/2014 -- Menswear in Canada registered steady retail value growth in current terms for the majority of the review period, including 2013. Men are increasingly spending money on pricier items such as custom blazers and dress shirts, while dedicating a bigger part of their disposable income to looking presentable. Value consciousness does not have the same effect that it has on womenswear products. Men are more engaged in buying what they need to fit their wardrobe and skipping low priced items. The rise of the metrosexual male gave much more wiggle room to retailers. Retailers' product lines increased to meet the new complexities of male fashion demands. Mixing and matching between different categories allowed the market to increase in both value and volume terms. Fashion items that were once unknown to the male shopper are now part of his wardrobe. This transformational shift in menswear is helping boost sales in apparel overall.
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Nike Inc ranked first in menswear with 4% of retail value sales in 2013. The company markets a number of brands, including Nike, Nike Golf, Cole Haan and Converse labels. The brand has a solid presence in sportswear, one of the fastest-growing categories in Canadian apparel. The Nike collection for the 2013 holidays included the PWM N7 Windrunner Jacket, PWM N7 Air Force 1 High and PWM N7 Roshe Run, which were available through Nike and Footlocker stores in Canada. Also, the Nike N7 collection of apparel and footwear supports the N7 Fund and its purpose is said to inspire and enable two million Native American and aboriginal youths in North America to participate in sport and physical activities.
Over the forecast period, one of the most notable stories in menswear will be the expansion of the high-end segment of apparel and arrival of a number of major US retailers that are expected to bring tough competition to the middle-to-high-end luxury segment. Nordstrom, Chico's and Saks are expected to enter the Canadian market in 2014. The US-based chic retailers, that carry extensive lines of menswear, are expected to challenge of number of longstanding players such as Harry Rosen and Hudson's Bay. Menswear is expected to register a CAGR of 2% at constant 2013 prices over the forecast period.
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The Menswear in Canada market research report includes:
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