High End Clothing Market Sizes

Delivered February 2nd, 2018. Contributors: MJ K., Erica L., Erika O., Annabelle T., Lu J., Kacie D., Sandra M., Deleted U. and

Part

of eight

Part

High End Women's Dress Shirts - US Market Size

EXECUTIVE SUMMARYThe estimated market size for US Women’s Luxury Shirts was $12.5 B in 2017. Women are the biggest spenders on clothing each year, spending 76% more than men on average, with older women spending the most on clothing annually. Interesting, on average, women pay 8% more for their clothing than men do. The global Luxury Apparel Market has been slowly growing over the last few years, though “affordable luxury” has grown at nearly three times the pace. The online market for luxury women’s clothing has grown exponentially in the last two years and is expected to continue to see significant growth in the coming years. However, luxury shoppers are less likely to buy items that need to be tried on via websites, and still spend the most in brick-and-mortar stores. 

Read on for my findings and the triangulation of my calculations for the requested market size. As requested, I used the framework created by the original Analyst to answer this related query. Additionally, I’ve included related information I thought you might find useful to your own research. 

FINDINGS AND TRIANGULATIONAccording to data from Statista, the US Women’s and Girls’ Apparel Market is estimated to be valued at $121 B in 2018, with an expected CAGR (2018 – 2012) of 2.3%. The 2017 market value was $117.8 B, which is the figure we will use for our calculations. The US is the largest player in this global market. Of this market, “blouses” (into which luxury shirts fall, though this category includes other types of shirts, as well) showed revenue of $13.6 B in 2017, and is expected to show revenue of $14.2 B in 2018. The 2017 average per capita revenue for blouses was $41.88, with volume sales of 680.8 M pieces. The average volume per capita was 2.1 pieces, with an average price per unit of $20.03.  

It is important to note that the blouses segment does not include jerseys (like t-shirts), sweatshirts, or pullovers, but only those shirts that are considered “dressier”. However, this does not mean that this category includes only high-end wearables. So, we’ll need to drill down a bit further to get a more-accurate market niche estimate. Beginning with 2017’s total US blouses market size of $13.6 B, we can calculate the more-specific market (high-end shirts) that you’re seeking.

To do this, we’ll look at the global Luxury Apparel Market, which BusinessWire reports was worth $77.8 B in 2017, showing a 3.3% YOY growth. BizVibe reports that, in 2015, the United States’ share of that market was 29.15%. If we assume that this percentage remained fairly static over the next two years, we can estimate the approximate size of the US Luxury Apparel Market to be just under $22.7 B in 2017. 

29.15% of $77.8 B = $22.7 B

From here, we need to segment out just US women’s luxury apparel. Multiple sources (including BusinessWire and BizVibe) report that women represent more than half of the market share. Since I was not able to locate a source that indicated the exact percentages (of men’s vs women’s), we will use 55% as our figure (as that is just over half). Please note that with this estimation, the market size may vary (up or down) by some percentage, though it should not be very significant.  Using that 55%, we can calculate that the US Women’s Luxury Apparel Market was valued at approximately $12.5 B in 2017.

55% of $22.7 B = $12.5 B

So, of the total Women’s and Girls Blouses Market of $13.6 B, approximately $12.5 B of that goes toward high-end shirts/blouses (wow!). 

CreditDonkey informs us that women are the biggest spenders on clothing in the US, spending more than 76% over what men spend on clothing each year, and averaging a clothing expenditure of around $571 each year. Older women (aged 45 – 54) tend to spend higher than the average, buying just under $800 ($793) in clothing annually. This is likely due to larger discretionary spending funds available. Wealthier women spend even more, which is of definite interest to you for your research into the luxury clothing / shirts markets. Interestingly, their research also notes that, “on average, women pay 8% more than men for their clothing,” with the most difference being seen in the cost of shirts. 

GROWTH OF THE (WOMEN’S) LUXURY APPAREL MARKETBusinessWire notes that, “The global luxury apparel market has had one of the most prominent growths in recent decades among all of the sectors in global textile and apparel industry.”  McKinsey’s 2017 State of Fashion report notes that the luxury fashion segment has grown by 0.5 – 2.5% over the past few years, with “affordable luxury” showing about three times that growth. According to PRNewswire, “women dominate the luxury apparels market; however, the men are not far behind”. Both segments accounted for nearly equal market shares in the 2015 global Luxury Apparel Market.

 LuxurySociety states that local fashion brands, like Ralph Lauren, Coach, Calvin Klein, Gucci, and Michael Kors, dominate the American luxury clothing market. Though Deloitte notes that in recent years, the top US-based companies have shown decreases in overall sales. 

For a detailed look at the global (and US) luxury markets and the consumers who purchase luxury products (including high-end clothing), Deloitte provides a comprehensive overview.  For a collection of useful stats on the purchasing power of US women, check out this article from GirlPowerMarketing.

OPPORTUNITIES IN ONLINE WOMEN’S LUXURY FASHIONOn a related note, McKinsey reports that, in the US, the online market for women’s luxury fashion is expected to grow from 2015’s 3% of the market share to nearly 17% in 2018 (equaling growth to $12 million dollars). Brands that have realized that both brick-and-mortar and online sales are equally viable in the luxury apparel market are most likely to see more success in future years. According to McKinsey, “Brands have come to accept that these channels are not mutually exclusive, since they target different shopping occasions and therefore different consumer groups. Multi-brand sites, however, are expected to capture a greater portion of the growth in online luxury fashion, as single-brand sites have more limited growth potential.” They also note that it is very important for a brand to discern exactly what their luxury shoppers are looking for in their online retail experiences – and provide them with the experiences they desire.  

Though they report that luxury apparel buyers are more willing to buy something online that no one else (online) sells, they are also less likely to purchase items that need to be tried on for a perfect fit (like shirts).  McKinsey also notes that, “In the U.S., department stores dominate in the online luxury fashion market, as these players continue to expand their offline strengths into online.” In the US, Nordstrom leads in online luxury fashion sales, followed by Neiman Marcus and Bloomingdales respectively. For more information, check out McKinsey’s report. 

Additionally, IBISWorld notes that the online sales of designer clothing have “grown furiously for more than a decade, and that the market will continue to expand through 2021 and beyond. 

SUMMARYThe US market size for high-end (luxury) women’s shirts was approximately $12.5 B in 2017. The market for luxury clothing in the US is growing, although slowly, with men’s high-end fashions showing higher growth rates than women’s.

Part

of eight

Part

High End Women's Dress Shirts - European Market Size

The global womenswear industry is valued at $621 billion, $80.37 billion of which is luxury apparel. The women’s luxury apparel segment is currently dominating the global market, representing over half of the market share. High-end women's dress shirts make up $1.47 billion of the European market size. The total revenue of the global luxury apparel market totaled $75.4 billion in 2016, and is expected to reach an estimated $77.8 billion in 2017, marking a 3.3% growth, according to Technavio.  It is worth noting that the rise in popularity of leisurewear and casual wear is a possible concerning trend for luxury or high-end dress shirts.
findings and triangulationAccording to Statista, the European (including Great Britain) women's and girl's apparel market totals $164.642 billion, and blouses make up $22.769 billion of that total. If the size of the global womenswear industry is $621 billion, we can conclude that roughly 26.5% of the total market share is European and women's blouses alone make up about 13.8% of the high-end market.

($164.642 billion/ 621 billion= .265= 26.5% of the total market share)

26.5% of 621 billion = 164.642 billion
13.8% of 164.642 billion = 22.769 billion

The global luxury apparel market is $80.37 billion, with women's luxury apparel slightly over half. Using the same percentage for the European market (26.5%), the European women's luxury apparel market is approximately $10.65 billion:

50% of 80.37 = $40.19 billion
26.5% of 40.19 = $10.65 billion

Assuming that high-end dress shirts are the same percentage of luxury apparel as blouses are of women's apparel, this particular segment would be $1.47 billion:

13.8% x $10.65 billion = $1.47 billion

While the women’s luxury apparel segment is currently dominating the global market, the men’s luxury apparel segment is catching up quickly and is estimated to be the fastest growing segment in the global luxury apparel market over the next five years. In addition, a possible concerning trend for luxury or high-end dress shirts is the rise in popularity of leisurewear and casual wear.
CONCLUSIONIn conclusion, the European market size for high-end women's dress shirts is $1.47 billion. Women's high-end apparel is currently dominating the global market, but we may see this change with a rise in the popularity of casual wear.

Part

of eight

Part

High End Cotton Men's Slacks - US Market Size

While the size of the United States market for high-end cotton men's slacks is not readily available in the public domain, figures from statistical charts, news articles, and industry reports enabled us to triangulate it. Based on our calculations, there is a good chance that the size is approximately US$1.5 billion. We used top-down analysis to narrow down the market for men's trousers in the United States to the market for high-end cotton men's slacks. Below you will see our computations.
SIZE OF THE U.S. MARKET FOR MEN'S TROUSERSAccording to statistical portal Statista, the size of the market for men's trousers in the United States this year is an estimated US$33.538 billion. This amount covers cloth trousers, jeans, and shorts, and excludes underpants and track and jogging pants. A year-on-year growth in revenue of 2.7% is expected. 

Per capita, the average annual revenue is US$102.30 and the average annual sales volume is 5 pairs. A total of around 1.6 billion pairs of trousers is expected to be sold this year, with the price per pair averaging US$21.01.

The United States is the largest market for men's trousers in the world, followed by Germany, United Kingdom, Italy, and Russia.

In case you cannot see the values in the Statista link provided, you may refer to the attached Google Docs document for the screenshots of the values.
SIZE OF THE U.S. MARKET FOR HIGH-END MEN'S TROUSERSTo determine how much of the United States market for men's trousers is accounted for high-end men's trousers, we followed the methodology used by my colleague in her response to your question about high-end men's dress shirts in the United States. 

Both networking platform BizVibe.com and retail technology firm Edited.com recently reported that, according to market research firm Euromonitor International, the global market for luxury men's apparel is projected to reach US$33 billion by 2020, a 14% increase from US$29 billion in 2015. If we assume that the US$4-billion increase is distributed equally across the five years covered by the period 2015-2020, we can estimate that this year, the global market for luxury men's apparel is worth about US$31.4 billion.

 US$33 billion - US$29 billion = US$4 billion
US$4 billion / 5 years = US$0.8 billion / year
US$29 billion + (US$0.8 billion x 3) = US$31.4 billion

Then, if we assume that the United States' share of this market is the same as the United States' share of the global menswear market, we can determine the share to be 20%, as shown in the following computations. 

According to market research firm Technavio, the global menswear market is expected to grow from US$418.9 billion in 2015 to US$480 billion by 2019 at a CAGR of 4.8%. We can, therefore, estimate that the global menswear market this year is about US$458 billion. And since, according to Statista, the market in the United States this year for menswear is worth US$89.560 billion, we can estimate the United States' share of the global menswear market to be 20%.

 US$89.560 billion / US$458 billion = 20%

Even though the US$89.560-billion amount provided by Statista covers boy's apparel as well, it appears it is fine to use the amount since, based on Statista's definition of the market, the market covers the following men's apparel: coats and jackets, jackets, blazers and suits, trousers, shirts, and pullovers. Also, this amount was the one used in the response to your question about high-end dress shirts. Old estimates by Statista show that, in 2014, it was expected that the retail sales of the market for menswear in the United States will reach US$74.8 billion by 2018. Given that it is already 2018 and market research firms may have adjusted their projections already, the US$89.560-billion estimate for the menswear market in the United States this year is plausible.

With the assumption that the United States' share of the global luxury menswear market is also 20%, we can estimate that the size of the market for luxury menswear in the United States is around US$6.28 billion. 

20% x US$31.4 billion = US$6.28 billion

Given this figure, we can infer that luxury menswear accounts for 7% (not 27%) of the US$89.560-billion menswear market in the United States.

US$6.28 billion / US$89.560 billion = 7%

Also, we can estimate that the market for high-end men's trousers in the United States this year is around US$2.348 billion.

7% x US$33.538 billion = US$2.348 billion
SIZE OF THE U.S. MARKET FOR HIGH-END COTTON MEN'S SLACKSGiven that the size of the United States market for high-end trousers is US$2.348 billion, we can safely assume that the market for high-end cotton men's slacks in the country is a portion of this US$2.348-billion market.

To determine the share of high-end cotton men's slacks, we looked at how the market for men's trousers in the United States is segmented. We found the following information:

a. The US$33.538-billion United States market for men's trousers covers cloth trousers, jeans, and shorts. 

b. In 2014, the market for casual men's shorts in the United States was described as a US$3-billion industry.

c. In 2016, the market for men's denim in the United States was estimated at US$8 billion. 

If we assume that most of the men's denim market can be attributed to jeans, we can estimate that casual shorts and jeans account for 33% of the US$33.538-billion United States market for men's trousers.

(US$3 billion + US$8 billion) / US$33.538 billion = 33%

And, lastly, we can estimate that the share of cloth trousers or pants is around 67%, meaning the market for high-end cloth trousers or pants in the United States is around US$1.573 billion.

67% x US$2.348 billion = US$1.573 billion

Assuming most cloth pants are made of cotton, we can estimate that the market for high-end cotton men's slacks in the United States is around US$1.5 billion.

The average price of a high-end pair of cotton men's slacks is not readily available, but the online shop of luxury retailer Neiman Marcus shows that its dress pants selection is mostly in the US$150-US$999 price range.
CONCLUSIONDespite the lack of pre-compiled statistics on the size of the market for high-end cotton men's slacks in the United States, we were able to estimate the size at US$1.5 billion. We arrived at this estimate by using menswear-, men's trousers-, and luxury menswear-related data from statistical charts, news articles, and industry reports. A top-down approach was used in narrowing down the United States market for men's trousers to the market for upscale cotton men's slacks.

Part

of eight

Part

High End Cotton Men's Slacks - European market size

In Europe, the estimated market size of cotton materials for the high-end men's slacks category is estimated to be $922 million. Sales of high-end men's slacks/trousers of all material types yielded revenue of $2.56 billion, or an equivalent of 11 million units sold, in 2017. These figures were derived using top-down market sizing analysis, i.e. identifying global market size trends and applying them to the European market. Below you will find detailed calculations, estimations, and assumptions that were used to derive the presented figures.
GLOBAL MENSWEAR MARKET SIZEAccording to Euromonitor International, the global market size for menswear is expected to reach $460 billion by 2020, at a growth rate of 2.3%. In 2014, this segment was $402 billion. Using the 2.3% CAGR figure, the annual global menswear market size is estimated below:

2014 = $402 billion 
2015 = $402 * 1.023 = $411.25 billion
2016 = $411.25 * 1.023 = $420.70 billion
2017 = $420.70 * 1.023 = $430.40 billion
2020 = $460 billion 

The global market for high-end menswear (luxury or men's designers apparel) is forecasted to reach $33 billion in 2020, which is an increase from $29 billion in 2015. This figure results in an estimated 14% increase over 5 years, or a 2.8% growth rate annually.

2015 = $29 billion 
2016 = $29 * 1.028 = $29.8 billion
2017 = $29.8 * 1.028 = $30.60 billion
2020 = $33 billion 
EUROPE MENSWEAR MARKET SIZEIn Europe (including the United Kingdom), the men's and boys' apparel segment is expected to produce revenue of $105.37 million in 2018, and it is expected to grow annually by 1.8% through 2021. The 2017 revenue is calculated to be $103.50 billion. In the United Kingdom alone, men's apparel yielded estimated revenue of £14.9 billion (about $21 billion) in 2017.

If Europe's revenue in 2017 was $103.50 billion, this would mean that the region has a market share of 24%, utilizing the calculations below:

($103.5 billion/$430.40 billion)*100 = 24% (Europe's share from global market)
EUROPE HIGH-END COTTON MEN'S SLACKS MARKET SIZEAgain, utilizing the above estimates, if the 24% share is assumed to follow a trend similar to the luxury menswear market, then Europe's high-end menswear market can be calculated as follows:

$30.5 billion * 24% = $7.32 billion

The same report reveals that trousers (also called slacks) generated revenue of $36,145.8 million in 2017. This accounts for about 35% of the overall market share of Europe's menswear.

Using the 35% market share to calculate the high-end trousers segment from Europe's high-end men's apparel, calculations are as follows:

$7.32 billion * 35% = $2.56 billion (estimated value of high-end men's trousers/slacks in Europe)

If the average price of a luxury menswear item is $232.29, based on a report released by Digiday, the estimated number of units sold in 2017 can be calculated as follows:

$2.56 billion / $232.29 = 11,020,707 pieces (all material types)

According to a report released by PR Newswire, cotton materials lead the global luxury apparel market with a share of about 36% in 2015. Assuming that this market follows the same trend in 2017, and concurrently carries a similar trend in the high-end men's slacks market, the following estimate can be made:

$2.56 billion * 36% = $922 million (estimated market size of cotton materials for high-end men's slack category in Europe)
CONCLUSIONThe cotton material for high-end men's slacks in Europe was estimated to yield a total revenue of $922 million, compared to $2.56 billion for all material types in 2017. This assumption was based on the overall global luxury apparel market, which indicates that 36% of sales are generated from clothing made of cotton material. The scope of this market size is for Europe, including the United Kingdom.

Part

of eight

Part

High End Suits - US Market Size

In the U.S., the market for high-end men's suits is worth an estimated $486 million. Approximately between 97,200 and 162,000 units are sold in this market per year. There is a notable market opportunity for retailers in this space, as men spend more on apparel than women ($85 compared to $75 per month). I've defined "high-end" as the same as the luxury apparel market, as you'll see in my calculations. You'll find a deep dive of my research below. 
U.S. SUIT MARKET The market for men's suits is measured to be worth $1,965 million in 2018. The market is expected to grow by 0.7 % each year (CAGR 2018-2021). United States generates the most revenue for men's suits — out of $1,965 million, the US generates $1,799 million in 2018. This leads to the conclusion that the overall US suit market is currently worth $1.8 billion. 
On top of that, the revenue per person can be estimated at $5.39 in 2018. The average volume of suits bough in 2018 per person is 0.03 pieces. The average price per one suit is $155.1 in 2018.
TRIANGULATIONTo determine the share of the suit market that is specific to high-end suits, I started by comparing it to the luxury apparel market. The global market for men's luxury apparel is projected to be worth $33 billion by 2020. That's a 14% increase from 2015, meaning that the 2015 market size was roughly $28 billion:

14% of 33 billion = 4.62 billion
33 billion — 4.62 billion = 28.38 billion

That averages out to roughly $1 billion in growth each year from 2015-2020. So, to backtrack from 2020 to 2018, we can subtract $2 billion from the $33 billion market size to get an estimated $31 billion market size for global luxury men's apparel in 2018. 

To determine the U.S. share of that market, we can look at the men's apparel market overall. The $90 billion menswear market in the U.S. is roughly 20% of the global $460 billion menswear market. If we assume that same ratio holds true for the luxury market, at least roughly, then we can estimate that the U.S. luxury men's apparel market is worth $24.8 billion:

20% of $31 billion = $6.2 billion
$31 billion — $6.2 billion = $24.8 billion

Finally, we have to determine how much of the luxury men's market comes from high-end suits. As I mentioned above, the market for men's suits in the U.S. is worth $1.8 billion. This figure only includes suits and no other garments. As determined above, men in the U.S. are spending $24.8 billion on luxury apparel, which is 27% of the total $90 billion men's apparel market. If we apply this ratio to suits, we can estimate that the market size for high-end suits is $486 million:

$1.8 billion (men's suit market) x 27% (luxury share) = $486 million

If we assume that the average price for a high-end suit is between $3,000 and $5,000, then we can estimate the units sold for this market at between 97,200 and 162,000.

$486 million total market / $3,000 per unit = 162,000 units sold

$486 million total market / $5,000 per unit = 97,200 units sold

There is a significant opportunity for retailers to increase their market share of suits. Overall, men are spending more on apparel per month than women — $85 compared to $75. In addition, the average price of menswear overall is up by 60% right now. 
CONCLUSIONTo wrap up, the U.S. market for men's high-end suits is worth approximately $486 million. An estimated 797,200 and 162,000 units are sold in this market per year. 

Part

of eight

Part

High End Suits - European market size

The European market size for high end suits, including the UK, is estimated to reach $434 million in 2018. The average per capita revenue for 2018 is $9.85, with an average unit cost of $158.14, and approximately 2.7 million units sold.  Luxury goods as a whole in Europe are making a comeback with sales expected to increase by 6% at the current exchange rates over the next several years. Please note that the terms "luxury market apparel" and "high-end suits" have the same meaning throughout this response. Triangulation methods to find the market size for this industry are explained below. 
TRIANGULATIONSDetermining the approximate number of men's luxury suits sold per year (2.7 million) was calculated by dividing $434 million by the average cost per piece of $158.14. 
 
434 million divided by 158.14 = 2,744,404 million (2.7 million)

A Statista report indicated that the market for men's suits in Europe for 2018 is projected to reach $6.6 billion, with an average revenue per person of $9.85, and each piece being sold at an average of $158.14. By comparing these numbers to the global luxury apparel market which grew by 14% (4.62 billion) in 2015 to an estimated $33 billion by 2020, I was able to find the numbers for the same market in Europe. Determining the market size for 2015 was found by subtracting the 4.62 billion from the $33 billion, resulting in $28.38 billion. 

1.4% of 33 billion = 4.62 billion
33 billion - 4.62 billion = 28.38 billion

With a growth rate of about $1 billion per year between 2015 and 2020, I calculated that the global luxury apparel market size for men in 2018 is $31 billion but subtracting $2 billion ($1 billion per year) from $33 billion. 

$33 billion - $2 billion = $31 billion

The final step in calculating Europe's share of the luxury suit market was determined by using the 1.4% of the European men's suits market of $6.6 billion when compared to the global market of $460 billion and applying the same percentage to the global luxury suit market of $31 billion. For this calculation, we assume the same ratio applies to the men's suit and men's luxury suit markets.

 1.4% of $31 billion  = $434 million market size for European luxury suits for men
ADDITIONAL MARKET INSIGHTMen's apparel as a whole is adjusting to consumers' lifestyles with sales in this industry to be one of the fastest-growing through online dealers. With a 17.4% increase over the past 5 years, numbers surpass other areas such as grocery, shoe sales, health products, and more. Over recent years, the average price of menswear has increased more than 60%, to $232 per item currently. As Europe's luxury market is also growing, it can be said that there is great potential for the luxury suit industry. 

The top 20 high-end men's luxury suit retailer include; Richmart, NHK, Angelo Galasso, Armani, Galani, Gucci, Ermenegildo Zegna, Lanieri, LBM 1911, Prada, Stefano Ricci, Alfred Dunhill, Crombie, Daniel and Lade, Hemingway, Higgins and Brown, Kilgour & French, Richard Anderson, Steed Bespoke Tailors, and the Belfast Tailor.
CONCLUSIONTo summarize, the European market size for luxury men's suits is $434 million, with $9.85 sales per capita, and each piece selling for an average of $158.14. Sales of luxury items in Europe has been on the rise and online purchasing is imperative in this market as it is currently one of the fastest-growing areas in e-commerce. 

Part

of eight

Part

High End Knitwear - US Market Size

The US knitting mills industry market size for the year 2018 is found to be $528 million. Men's overall knitwear market is $176 million and women's overall knitwear market is found to be around $264 million. The men's luxury knitwear market is approximately $47.52 million. 
Findings AND TRIANGULATION:This research was done for US region only. After extensive research I was unable to find any pre-compiled data on the overall high end knitwear market size, high end men's knitwear or high end women's knitwear. However, I have triangulated some available data to come to the following conclusions.

According to a report by IBISWorld, US knitting mills industry market size = $528 million 

Womenswear constitutes around half of the clothing market in the US. Menswear constitutes around one-third of the total clothing market in the US.

Therefore, 

men's knitwear market size in the US= 1/3rd of total knitwear market = 1/3 x $528 million = $176 million (2018)

and,
women's knitwear market size = 1/2 of total knitwear market = 1/2 x $528 million = $264 million (2018)

Assuming that men's luxury market accounts for 27%, [assumption taken from previous request from client on high-end dress shirt market in the US.]

Estimated the high end men's knitwear market size = $176 million (men's knitwear market) x 27% (men's luxury share) = $47.52 million (2018)

CONCLUSIONThe US knitting mills industry market size = $528 million. Men's overall knitwear market is $176 million, of which the men's luxury knitwear market is approximately $47.52 million. Women's overall knitwear market is found to be around $264 million (2018).

Part

of eight

Part

High End Knitwear - European Market Size

Introduction
The overall European and UK market size for high end knitwear is approximately $3.2 billion, and all signs point to sustained growth in the near future.  Not only has the luxury market increased by 4%, but also the knitwear market is going through a hot streak thanks to new technological and design developments.  Additionally, a rough estimate of the men’s luxury knitwear and woman’s luxury knitwear markets in Europe and the UK is $332 million and $2.87 billion, respectively.  Below is a more detailed account of my research into the high end or luxury knitwear market.

Findings and Calculations — European Knitwear Market
Despite exhaustive searching, I was not able to find any pre-compiled information on the high end knitwear market.  However, I was able to combine data from multiple sources to deduce an approximate market size for you to share with your apparel manufacturer.

The apparel market in Europe is $427.217 billion including the UK, while the apparel market worldwide is $3 trillion, or $3,000 billion.  The following calculation shows the percentage of the total apparel market that is attributed to Europe including the UK.

(427.217 billion / 3,000 billion) * 100 = 14.2%

According to the most recent estimate in 2015, the knitwear market is approximately $200 billion globally.  Assuming that the ratio of European-to-global apparel is the same as the ratio for European-to-global knitwear, the following calculation gives the approximate knitwear market in Europe and the UK. This was the most recent data published.

14.2% of $200 billion
200 billion * 0.142 = 28.4 billion

Thus, the European and UK knitwear market is approximately $28.4 billion.

Findings and Calculations — European Luxury Apparel MarketAdditionally, the luxury goods market globally is estimated to be $339.4 billion.  The following calculation gives the percentage of the apparel market that would also be considered luxury.  We are looking for “X” as the percentage of the global apparel market that is luxury.

X * 3,000 billion = 339.4 billion
X = 339.4 billion / 3,000 billion
X = 0.113
0.113 * 100 = 11.3%

Thus, 11.3% of the global apparel market is a part of the luxury apparel market.  

Assuming the ratio of European apparel to luxury European apparel is the same as the ratio of global apparel to luxury apparel, the following calculation gives the approximate luxury apparel market in Europe and the UK.

11.3% of 427.217 billion
427.217 billion * 0.113 = 48.28 billion

Thus, the European and UK luxury apparel market is approximately $48.28 billion.

I continued my search for data related specifically to men’s and woman’s luxury apparel and performed another series of calculations.  Euromonitor reports that the global men’s luxury apparel market is forecasted to be $33 billion by 2020, a 14% increase from 2015.  In order to then figure out the 2015 men’s luxury apparel market, I calculated the following.

14% of 33 billion = 4.62 billion
33 billion — 4.62 billion = 28.38 billion

Thus, the 2015 global men’s luxury apparel market is $28.38 billion.  

From this calculation, it can also be concluded that the men’s luxury apparel market will continue to grow, on average, approximately $1 billion annually over the 2015 – 2020 years.  Since it is only 2018, I can add $3 billion to the 2015 estimate to see this year’s men’s luxury apparel market. If I again assume the ratio of European-to-global apparel is the same as the ratio for European-to-global luxury menswear, the European and UK men’s luxury apparel can be calculated.

28.38 billion + 3 billion = 31.38 billion
14.2% of $31.38 billion
31.38 billion * 0.142 = 4.4 billion

Thus, the European and UK men’s luxury apparel market is $4.4 billion.

We can subtract the European and UK men’s luxury market from the total European and UK luxury apparel market to obtain the European and UK women’s luxury market.

42.28 billion – 4.4 billion = 37.88 billion

Thus, the European and UK woman’s luxury apparel market is $37.88 billion.

The following calculations solve for the percentage of European and UK luxury apparel that is attributed to men’s and woman’s clothing, where M is the percentage for men and W is the percentage for women.

M * 42.28 billion = 4.4 billion
M = 4.4 billion / 42.28 billion
M = 0.104 * 100 = 10.4%
W = 100% - 10.4%
W = 89.6%

Thus, the European and UK luxury apparel market can attribute 10.4% to men’s luxury apparel and 89.6% to woman’s luxury apparel.

Findings and Calculations — Knitwear and Luxury Markets CombinedAssuming that the 11.3% luxury ratio from all apparel (see above) can be applied to knitwear, then the following calculation gives the luxury knitwear market in Europe and the UK.

28.4 billion * 0.113 = 3.2 billion

Thus, the European and UK luxury or high end knitwear market is $3.2 billion.

I can also calculate the percentage attributed to men’s and woman’s luxury knitwear if I assume the same percentage of men’s and woman’s luxury apparel applies in the knitwear category as well.  The following calculations solve for the men’s and woman’s luxury knitwear markets in Europe and the UK.

3.2 billion * 0 .104 = 0.332 billion or 332 million
3.2 billion * 0.896 = 2.87 billion

Thus, the European and UK market for men’s luxury knitwear is $332 million, and the European and UK market for women’s luxury knitwear is $2.87 billion.

Other Information
The global personal luxury goods market for 2017 is estimated to be between $284 billion and $289 billion, which is up 2 percent to 4 percent from 2016. This shows that the overall market for luxury items is on the rise. It is important to note that while the woman’s luxury apparel market is larger overall, the men’s luxury apparel market has been growing faster than the woman’s in recent years.  Additionally, developments in knitting, and advanced treatments such as digital printing, glossy foil prints, inkjet printing, flocking, and burn-outs have heated up the market for knitwear.

Conclusion
The luxury or high end knitwear industry in Europe and the UK is booming.  According to a series of calculations and a couple of key assumptions about the universality of ratios across geographic sizes and particular types of apparel, the overall European and UK market size for high end knitwear is approximately $3.2 billion, with a rough estimate of men’s and woman’s markets at $332 million and $2.87 billion, respectively.