Boston, MA -- (SBWIRE) -- 10/29/2014 -- Informality and convenience is becoming the key factor of change in menswear. Many companies are no longer setting dress rules as strictly as before. No ties are now allowed and a casual day is set for one or few days so employees can wear casual wear to work. Formal suit fashion is not compulsory in many work places and thus, men's suits continued to decline in 2013 by 5% in current value terms. The informality trend and change in dress code that spread into office life also led to the healthy growth of men's shorts and trousers in 2013.

Competitive Landscape

Cheil Industries leads menswear with various brand line-ups; Bean Pole, Rogatis, Galaxy, and more. The company has a brand image of well-made apparel, as the company manages apparel from the basics, studying fabrics to general fashion trends. Such efforts result in building the brand as a trend maker, not a trend follower.

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Industry Prospects

The value sales of menswear are expected to stagnate at constant 2013 prices, while volume sales are expected to remain healthy with a 3% CAGR. Thus, the unit price decline in menswear will be accelerated during the forecast period. The unit price shift is linked with apparel specialist retailers with their own brands' growing popularity. Apparel specialist retailers with their own brands will continue to increase during the forecast period. At the end of the review period, menswear outlets were smaller in size compared to those of womenswear. However, this is subject to change. As male consumers slowly rise as an important revenue factor, the selling space for menswear will likely be expanded. In addition, the menswear product type that apparel specialist retailers with their own brands carry is less than that of womenswear. With adequate product line development, these players will likely absorb value share faster in menswear.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Menswear industry in South Korea with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Menswear industry in South Korea, our research will save you time and money while empowering you to make informed, profitable decisions.

The Menswear in South Korea market research report includes:

- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

- What is the market size of Menswear in South Korea?
- What are the major brands in South Korea?
- How dynamic is the growth of clothing and footwear internet sales?
- What is the performance of women's clothing vs men's clothing?
- What % of clothing and footwear sales goes through grocery retailers?

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- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions

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