One main difference between accessible luxury brands and their high-end counterparts is the share of leather goods in their assortment – usually one of the predominant categories for high-end brands. Retviews’ data show that luxury leaders Saint Laurent and Louis Vuitton are among the brands with the biggest focus on leather goods, which make up 30% and 28% of their assortments, respectively. On the other hand, only 19% of Gucci’s menswear assortment is made up of leather goods, as accessories take the lead.
Burberry’s higher up-market move is also evident within its menswear assortment, as it has a larger share of leather goods than accessible luxury brand Armani. Wanting to move closer to high-end luxury, Burberry’s assortment reflects the high-end prominence of leather goods.
The high-end luxury menswear market maintains a stronger focus on accessories and leather goods than ready-to-wear. On the other hand, accessible luxury brands have a strong assortment share of ready-to-wear categories such as tops and bottoms, with a smaller collection of leather goods.
There is a major focus on sneakers rather than formal shoes, within leading brands’ menswear assortments. This is partially attributed to Louis Vuitton and Gucci tapping into streetwear and activewear, through recent collaborations with Supreme and Adidas. However, sneakers are losing ground to loafers, which are one of the most popular shoe styles of 2022, recording a +54% YoY increase in leading brand assortments, according to Retviews. Accessories has also become a growth category over the last year, with a strong increase in demand for sunglasses, bags and jewelry.