When you think of luxury, what do you think of? Personally, visions of sleek, form-fitting clothes and stylish accessories like watches and, yes, even money clips come to mind. Whatever it is that finds its way into your mind, though, brands are taking notice in 2015, as they are catering their strategies towards the guys when it comes to luxury. With men beginning to clean up their act and starting to realize that it takes more time to look the part than just smelling a t-shirt to see if it’s clean, pulling up some jeans and running their hair under some water, major fashion brands are starting to release some products that will get us fellas the look we need to end the night with someone we just met. And, while there are tons of new brands that are moving their focus on the gentleman as the new year begins, some of the old favorites are the ones who are making the biggest splashes, bringing in more money than you might believe. So who are the tops? I break them down for you below.
Photo via Flickr/billy2k
5. Hermes
Known for its high fashion products that specialize in leather, French company Hermes is a brand that men might not be too familiar with, but they would be foolish not to take notice of what the company is doing in 2015. Like the other brands that you’ll see on this list, Hermes is diving into the deep end of male-centric luggage and handbags, seeing that the spike in sales over the past year-plus has set a demand for such luxury. In addition to their famed leather products, though, the company has several scents for men, allowing them to continue to bring in profit in a more traditional sector of fashion. With a variety of mixed-gender stores to help appeal to both men and women under the same roof, Hermes is looking towards 2015 as an opportunity to cash-in big.
4. Dolce & Gabbana
Dolce & Gabbana has been a leader in luxury brands since they first launched in 1985, and, thanks to their spring/summer collection that they showed-off at last year’s fashion shows, they are putting an even bigger emphasis on generating sales from males. With trends like an all-white, minimalist look to the vivid prints that the brand is known for on its casual wear, D&G are joining the movement for men to lose the hats and sneakers and move towards a more luxurious look. Targeting gentlemen by opening male-only stores in test markets, the company is hoping to make a splash with new designs and sleek textures. While some may believe that their efforts are wasted, recent trends in sales across the entire male luxury market prove that Dolce & Gabbana are trying to stay competitive with other brands who are focusing on the same strategy.
3. Prada
For all the men out there who quiver when hearing the word Prada, unjustly associating it with just designer women’s purses, it’s no okay to admit that you, too, want to own a luxury handbag from the Italian company. The only downside to doing so? Well, your lady will undoubtedly want to join your decision in purchasing one, so be prepared to get a matching one for her. With the men’s handbag industry estimated at over $40 billion—with men’s products accounting for roughly $7 billion of that figure—there’s no stopping Prada from moving into the space with a seamless transition. As one of the leaders in the industry from their already released products for males, Prada believes that opening a number of dual-gender stores will help drive figures even higher as 2015 continues. As crazy as it sounds, Prada is on to something when it comes to their men’s handbags initiative.
2. Ralph Lauren
Forget those classic Polo shirts that we all wore in college that featured the small, Ralph Lauren horse over the heart and came in a variety of pastel colors, because the brand is reaching new levels with their strategy towards men’s luxury. Like others I’ve mentioned, Ralph Lauren will focus on expanding their presence by opening a variety of men’s-only stores, hoping that the rising incomes and economic improvement will continue to lead men into the luxury fashion realm, while also distinguishing several new markets for retail stores to operate. There will always be the products men associate with Ralph Lauren like polos, oxfords and slacks, but with the company moving towards the booming, premium handbag and accessories trend, men will have a new favorite Ralph product that they’ll always have with them.
1. Coach
Of all the brands listed, Coach is, maybe surprisingly, leading the charge for male-specific luxury, bringing in tremendous amounts of sales over the past few months that proves what they’re doing is working. To break it down, men’s products accounted for a whopping $691 million, or 14 percent, of Coaches revenue in the 2014 fiscal year. That’s an increase by nine percent, or $62 million, from sales in 2012. With a target of $1 billion in revenue from just men’s products by the year 2017, it’s clear that the initiative is in place to continue to market men on high luxury, whether that be accessories or clothing. Launching a new footwear line in the fall of 2014, as well as taking a note from other brands mentioned and converting some of their stores to male-only, Coach is jumping into the deep end to continue the trend of sky-rocketing sales in the coming years.
