The COVID-19 pandemic accelerated the shift in consumers' fashion preferences towards more casual and versatile pieces, after widespread home working and event cancellations rendered formal wear relatively obsolete. Despite the easing of restrictions, this trend has continued due to more relaxed dress codes for offices and events, leading many formal wear specialists to struggle to maintain sales. Those that primarily sell suits have seemingly been the worst hit, with Gieves and Hawkes, TM Lewin and Brooks Brothers all falling into administration since 2020, though others like J. Crew and Ted Baker have also found it difficult to remain relevant. To survive, formal ear players must focus on revamping their ranges to cater towards consumers' more casual styles, while also taking advantage of the heightened online penetration induced by the pandemic, by prioritizing investment in their digital propositions
The report includes analysis, brands, and trends associated with formal wear in the Global Apparel Market and the COVID-19 impact.
Scope
- Rising casualization poses a threat to formal wear specialists
- Reduced demand driving brands to remove formal wear from stores and instead focus on online
- Brands are utilizing collaborations to drive awareness and desirability among consumers
Reasons to Buy
- Gain a comprehensive view of the Formal wear market and the impact of Covid-19 on it.
- Investigate current trends in formal wear categories
Table of Contents
- Executive Summary
- Key Trends
- Struggles of Formal Wear Players
- Return to the Office
- Reduced Reliance on Stores
- Celebrity Collaborations
- UK Consumer Survey Data
- Brands in Focus
- Mango
- Reiss
- HandM Group
- Ted Baker
- Contact the Publisher
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Mango
- Reiss
- HandM Group
- Ted Baker
