Overall Market Size for High End Dress Shirts in U.S.

Part
01
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Part
01

Top manufacturers of high-end dress shirts in the U.S.

The short answer is Gitman Brothers, Brooks Brothers, Ledbury, Ralph Lauren, Skip Gambert, Robert Talbott, New England Shirt Company, Oasis Shirts, J Wingfield and Mizzen+Main are all manufacturers of high-end men's dress shirts in the USA. Below you will find a deep dive of my findings.

methodology

The latest publicly available market research on men's dress shirts in the US is unfortunately from 2013, where NPD Group found that sales rose 9% to $2.9 billion. Total men's shirt sales in 2016 were an estimated $13.75 billion.

First we attempted to find market research with information about the leading US men's dress shirt manufacturers and their market share. However, despite deep dive efforts, there was no information in the public domain. Next, we turned to manual research, first finding reputable sources listing top US dress shirt makers and brands, then searching manually using advanced search engine techniques. From this, we were able to build a list of ten makers of dress shirts in the US. Given that there was no pre-compiled data, no market share information was available.

top high-end men's dress shirt manufacturers

As one of the largest and oldest manufacturers of shirts and ties in the USA, Gitman Brothers start this list. Their shirts are sold at quality retailers like Nordstrom, Patrick James and Sierra Trading Post for between $145-175 each. They also sell ties, pocket squares, sports shirts and formal accessories. Gitman Brothers advertise themselves as one of the few manufacturers with all production still happening in the USA. Their corporate headquarters is in Ashland, Pennsylvania. Manta estimates their annual revenue between $10-20 million.

While not all of their shirts are manufactured exclusively in the US, they are still headquartered in New York City and some styles are made in-country. Founded in 1818, they generally sell their shirts at only their own branded stores, not other retail outlets. Brooks Brothers have a robust clothing and accessories line: men's, women's, kids' and home. Their dress shirts sell for between $69.50-298 each. Hoovers estimates their annual revenue at $830 million.

3) Ledbury
Ledbury are listed as one of the foremost online retailers of men's dress shirts, While they began their story in London, Ledbury also have US operations and their shirts are made in Richmond, Virginia. They also sell a variety of other men's clothing like casual, trousers, accessories and formal wear. Their dress shirts are priced between $145-189. Shirts are sold online, in their own retail locations, and through are variety of retailers like Bloomingdale's, Rothmans, Nordstroms and independent stores. Their revenue is an estimated $4.1 million.

Listed on two different websites as a top US-based dress shirt, Ralph Lauren is a well-known designer brand of all clothing types (men's, women's and children). Ralph Lauren's total company revenue is $7.4 billion, but it is unknown how much of this comes from US dress shirts. Their shirts are sold in many different retailers, including Macy's, Lord and Taylor and Dillards. Their shirts range from $98.50-450. Their global headquarters is in New York City, and while they have manufacturing facilities around the world, some of their shirts are made in the USA.

Skip Gambert are one of the foremost made-to-measure shirt makers in the US. Their headquarters is in Newark, New Jersey. They supply to retailers such as Bauman, Hansen's Clothing, but as made-to-order clothing, they do not offer much other information on clients. Their revenue is estimated at $49.1 million. Since their shirts are custom-made, exact price range is not available, but we can safely assume they are far more than $50.

A US-based shirt maker since 1950, Robert Talbott are based in Carmel, California. While they do import some of their clothing from Italy, much is still made in the USA. In addition to dress shirts, they also offer other men's clothing and accessories and womenswear. Their shirts range from $75-298. Their revenue is an estimated $40.5 million.

Making shirts since 1933, the New England Shirt Company has its headquarters in Fall River, Massachusetts. It claims to be the oldest ready-to-wear shirt manufacturer in the US, but some of the companies already profiled seem to beat this. Despite this, their dress shirts are sold in a variety of small-to-medium retailers all over the US, as well as larger ones like Nordstrom and Bloomingdale's. Their shirts sell from $200-275 retail. No revenue estimates were available for this private company.

Oasis also self-identify as one of the prominent shirt manufacturers in the US. They actually supply to brands around the world from their manufacturing facility in California. In addition to dress shirts, they also make boyswear, t-shirts, polos, and some womenswear. Price range is not available, as they do not disclose who their main retail clients are. Estimated revenue was also unavailable.

J Wingfield's shirts are woven in North & South Carolina and manufactured in Texas. They enjoy a wide distribution throughout central and eastern US, found in local retailers. They also make ties, and casual shirts. Their dress shirts sell for between $50-125. No revenue information could be found.

Another manufacturer-retailer, Mizzen+Maine are relatively new to the dress shirt scene, but making news a promising startup. Their unique selling point is all shirts are made from a moisture-wicking "performance fabric" for ultimate comfort and coolness. Already with an approximate $5.1 million in revenue, they also recently received a third round of funding from prominent PE firm L Catterton. Their shirts are already being sold in over 300 stores, including Nordstrom, Saks Fifth Avenue, and many local retailers. Its shirts are priced between $125-145. Their shirts are made at their facility in Dallas, Texas. They also sell an extensive line of other men's clothing and accessories.

conclusion

In conclusion, despite no public market research or reports listing the largest US manfaucters of high-end men's dress shirts and their market share, we have compiled a list of 10 prominent, profitable brands and manufacturers making dress shirts in the USA.
Part
02
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Part
02

Current market share (size) for high-end dress shirts in the U.S.

In the U.S., the market for high-end men's dress shirts is worth an estimated $5.7 billion. Approximately 76 million units are sold in this market per year. There is a notable market opportunity for retailers in this space, as the market share for high-end men's apparel is growing while the under-$50 market is shrinking. Despite extensive searching, I was not able to find information specific to retailers using isolate cotton; nor was I was able to find specifics on the over-$50 price point market. Instead, 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.

findings and triangulation


According to data from Statista, the men's shirt market in the U.S. will be worth a projected $21.19 billion this year. The average per capita revenue in this market is $64.53, with the average unit price of $21. The total sales volume is 993 million pieces, with an average per capita shirt volume of 3 pieces. Men's shirts account for roughly 23.5% of the total men's and boy's apparel market in the U.S., worth $90 billion.

To determine the share of this market that is specific to high-end dress shirts, 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 that market comes from high-end dress shirts. As I mentioned above, the market for men's shirts in the U.S. is worth $21.19 billion. This figure already excludes T-shirts and singlets, including only dress and casual shirts. 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 shirts, we can estimate that the market size for high-end dress shirts is $5.7 billion:

$21.19 billion (men's shirt market) x 27% (luxury share) = $5.7 billion

If we assume that the average price for a high-end dress shirt is $75, then we can estimate the units sold for this market at 76 million:

$5.7 billion total market / $75 per unit = 76 million units sold

There is a significant opportunity for retailers to increase their market share of dress shirts. Overall, men are spending more on apparel per month than women - $85 compared to $75. Moreover, the under-$50 segment of the men's apparel market has actually lost 8% of its market share since 2013, showing that the high-end market is growing its market share. In 2017, products under $50 accounted for only 32% of the market, compared with 40% in 2013. In addition, the average price of menswear overall is up by 60% right now.

conclusion

To wrap up, the U.S. market for men's high-end dress shirts is worth approximately $5.7 billion. An estimated 76 million units are sold in this market per year. There is significant market opportunity in high-end men's apparel, with the under-$50 market losing 8% of its market share since 2013.
Sources
Sources

From Part 01