Nowadays, a lot of people take steps to tighten their budgets during the recent economic turmoil. In general, men found it easier to cut back on clothing than women. Perhaps surprisingly, that trend is now reversing. Last year, the growth in men’s apparel outpaced the growth in women’s clothing by almost 9 percent. A single category of clothing is responsible for much of the growth: accessories. Sales for men’s briefcases, bags, hats, scarves and other accessories have skyrocketed over the last year.
There are theories abound over the reasons for the growing popularity for men’s accessories. A more competitive job market is one explanation. Men are realizing that taking fashion seriously can help the bottom line. Where once a finely tailored suit, a crisp white shirt and a silk tie were enough to establish credibility in the boardroom, men today are looking for accessories that give them an edge over the competition, be it a pocket square, tie bar or a statement watch.