UK men’s clothing market reaches new high
British Fashion Council revealed its new Value of Fashion report, which found that the men’s clothing market grew by 4.1% in 2015 to reach £14.1billion. Menswear now accounts for 25% of the total clothing market in the UK, according to Mintel.
Ed Vaizey, UK Culture Minister said: “The creative industries are one of the UK’s greatest success stories, contributing almost £9 million per hour to our economy. UK fashion plays a key role in that success, with the unique spirit and energy of the industry capturing the attention of the world. From high street to haute couture, our thriving fashion industry continues to make its mark.”
The fashion industry directly contributed £28 billion to the UK economy in 2015, according to the report Value of Fashion Oxford Economics 2016. 880,000 people are now employed by the fashion industry in roles varying from manufacturing to retail.
LCM Chairman Dylan Jones commented: “London continues to confirm its place as the home of menswear, a hub of creativity showing the very best designers to a global audience. The menswear market showing in London incorporates not only internationally acclaimed brands but also luxury tailoring and emerging talent. This array of designers makes London one of the most exciting fashion cities in the world.”