Forecasts for Luxury Menswear By Patrick Guadagno Sales trends among major brands in luxury men s fashion are

surprisingly robust, des pite continued headlines about economic trouble in the eurozone. Speaking with a New York Times reporter in early 2012, Ermenegildo Zegna CEO Gildo Zegna commen ted that men s wear sales had exceeded expectations across the board over the past y ear. In addition to continued high demand for luxury brands throughout Asia, Zeg na experienced double-digit sales growth in the United States. Even European sal es remained steady, boosted by an influx of continental visitors from countries such as Brazil, Russia, and China. China continues to be a major driver of revenue in luxury menswear, with annual sales now approaching $250 million, a figure that Bain and Co. calculates as rep resenting 40 percent of the international market. Overall market trends favor me nswear as well. While women s fashion maintains a respectable 8 percent annual growt h, men s fashion sales are charging ahead at a rate of 14 percent each year. In a major news event in men s fashion, the French luxury group PPR recently complet ed a purchase of the Italian suit maker Brioni, in a 100 percent takeover valued at nearly $450 million. PPR plans to expand the firm s retail presence internationa lly, particularly in the far reaching markets of South America, Eastern Europe, China, and greater Asia. PPR also sees a distinct opportunity in diversifying Br ioni beyond ready-made and made-to-measure suits by entering the luxury sportswe ar market. Interestingly, this move into luxury sportswear may put the new French owned Bri oni into direct competition with Zegna, a vertically integrated firm that mainta ins a family-owned wool mill at its base. Zegna currently supplies fabric to Bri oni and has made a significant retail impression in recent years by creating a s uccessful luxury sportswear line. About the Author: Building on decades of executive leadership in the fashion ind ustry, Patrick Guadagno consults on luxury branding strategies in New York. He i s the former President and COO of Versace.