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Savile Row experiencing 10%+ pa turnover growth; currently ~ £30-35 million. Allegedly, you're...

post #1 of 11
Thread Starter 

From Reuters: http://uk.reuters.com/article/2013/02/20/uk-fashion-menswear-savilerow-idUKBRE91J0IY20130220

 

Excerpts I found interesting:

 

Quote:

Anderson & Sheppard had a 2012 turnover of 4 million pounds and growth has been over 13 percent every year since 2009. A number of other houses on Savile Row have also enjoyed over 10 percent growth in recent years with total revenue for the informal group of suitmakers now estimated to be 30-35 million pounds...

 

Clothes that were then dismissed as old fashioned, over-priced and going the way of bowler hats, are now the subject of renewed interest reflected in sartorial blogs and forums from India to the United States.

 

"We've noticed that we get a lot more younger customers coming in. I think that's particularly the result of the internet. There's so much more written about bespoke tailoring now in books, magazines and online," Heywood said.

 

 

Chickenfeed in the overall menswear business, of course; about 0.1% of the total - and presumbably high-end only - figure for the total menswear fashion industry of £35 billion that they quote. And I suspect the increase in turnover is actually more down to the increasingly international profile of London's better-off residents and general growth in emerging markets, plus I notice that the theoretical asking price for a suit tends to go up by at least a good chunk of that overall turnover growth rate each year. So I doubt that the blog/forum effect is quite that big.

 

But still, interesting to see some figures.

post #2 of 11
The Internet definitely plays an eminent role judging by my personal experience. My crowd are all in their early twenties, and although our fathers and grandfathers used the Row, we were buying Tom Ford, RLBL, and Italian RTW before we stumbled across the blogosphere and forumiverse. It might seem surprising to you, but people like Foo, Vox, and Manton, and several people at FNB and LL, have influenced my group of friends very heavily in the clothing department. I'd be surprised to hear if Neapolitan tailors weren't enjoying similar yoy growth.
post #3 of 11
Yes, reference groups are definitely having an impact.
post #4 of 11
I have successfully persuade few of my friends to try Hitchcock, hope to get another couple hocked.
post #5 of 11
Quote:
Originally Posted by Holdfast View Post

From Reuters: http://uk.reuters.com/article/2013/02/20/uk-fashion-menswear-savilerow-idUKBRE91J0IY20130220

Excerpts I found interesting:



Chickenfeed in the overall menswear business, of course; about 0.1% of the total - and presumbably high-end only - figure for the total menswear fashion industry of £35 billion that they quote. And I suspect the increase in turnover is actually more down to the increasingly international profile of London's better-off residents and general growth in emerging markets, plus I notice that the theoretical asking price for a suit tends to go up by at least a good chunk of that overall turnover growth rate each year. So I doubt that the blog/forum effect is quite that big.

But still, interesting to see some figures.

Price increases of 15%/year will do that...
post #6 of 11
Quote:
Originally Posted by Fuuma View Post

Price increases of 15%/year will do that...

How? Price increases for any normal good obviously cause demand to decrease. Increasing prices wouldn't increase turnover unless there is demand to match. If you're suggesting that demand is pretty inelastic for a good like a Savile Row suit, I wouldn't agree with you fully.
post #7 of 11
That really isn't much revenue. It's hard to believe they can make much of a margin at those levels. Regarding prices, I think long term the Row succumbs to the same demand curve as others where higher prices lead to fewer orders, but is probably relatively inelastic, and In the short term one may even see higher prices leading to higher demand on occasion.
post #8 of 11
The Row's demand curve is probably pretty unique and difficult to predict (and naturally would vary from House to House). However, I highly doubt that higher prices on the Row would lead to higher demand (perhaps Huntsman is an exception to a certain extent).

A bespoke suit is a niche, and the internet lends itself to bringing niche enthusiasts together. It really is no secret that the internet is the primary vehicle of people's renewed interested in bespoke clothing.
post #9 of 11
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post #10 of 11
Quote:
Originally Posted by Loathing View Post

. It might seem surprising to you, but people like Foo, Vox, and Manton, and several people at FNB and LL, have influenced my group of friends very heavily in the clothing department.

 

Yikes.

post #11 of 11
Quote:
Originally Posted by add911_11 View Post

I have successfully persuade few of my friends to try Hitchcock, hope to get another couple hocked.

Interesting - have you tried Hitchcock, it would be good to hear of your experience (as at Graham Brownes) if you have.
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