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New C&M research analysis: Italy Men's Outerwear market
Men's Outerwear in Italy - a new market research report on 2014-03-20 11:19:03
Diesel ranked first in Italys mens outwear market, with 6% value share in 2011 and Ermenegildo Zegna & Figli placed behind with 5% of shares. Inditex, Industria de Diseño Textil SA with the world-renowned Zara brand ranked third with 4% value share of mens outerwear sales. Zegna continued to fare well even during the economic crisis, as it continued to invest heavily in advertising, innovation and especially in distribution, focusing on digital marketing. In fact, in December 2010, Zegna opened its first e-shop in partnership with Yoox creating the opportunity for consumers to purchase Zegna accessories as well as Zegna Sport and the exclusive Centennial Collection directly online. Moreover, Ermenegildo Zegna is also adding private salons in some of its stores for its top clients.

Only some large retail chains managed to marginally increase their sales in 2011. Zara and Benetton, where customers are attracted by the merchandising, brand advertising and by the overall experience they receive when they visit these stores. Respectively, Zara increased its value sales by 1%, and Benetton showed an overall increase locally by 2% in value sales terms.

The worst performing segments in 2011 were mens shirts and mens suits with respective current value growth rates of-4% and-3%. These results are mainly due to the rather marked decline of the classic style. In fact, the sales leaders focused on casual sportswear, specifically in the middle to high-quality range. For example, during autumn 2011 adidas, a brand well-known for the production of sportswear, proposed a collection of timeless vintage sweatshirts that were successful in terms of consumption. Moreover, SMI (Sistema Moda Italia) analysis stated that the consumption of casual sportswear items for men grew by 3% in current value terms.

? Mens shorts and trousers declined by 1% in current value terms. The main reason for this segments decline is that formal occasions have also started becoming less formal. Fewer men wear ties and a higher percentage of them do not wear suits, only trousers and smart jackets. Occasions that used to be considered quite formal, even though they have not decreased in number, have become less formal and therefore a more casual dress code is now in use. As such, trousers largely declined due to being substituted by jeans which increasingly offered a more formal range. Mens jackets and coats marginally decline in current value terms. This marginal decrease is mainly due to the success of sports coats followed by quilted jackets.

Mens outerwear is likely going to experience a poor performance over the forecast period with a constant value CAGR of-2%. The economic crisis threatens this category mainly because it is reduces household consumption power year-on-year. However, mens outerwear will be less affected by the bad economic situation because men usually buy their essential clothes even in healthier times.

Another reason is because mens outerwear is increasingly becoming more important in Italian fashion compared to the review period with both manufacturers and retailers very careful in offering a correct mix, introducing more products with strong sales prospects via competitive prices, among mens as well as womens outerwear. This will increase competitiveness with more events in shops, as well as stronger aesthetic appeal in brands, with the aim of attracting new customers and boosting loyalty of existing customers.

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