Amongst the various types of apparel accessories covered by Euromonitor International, belts are the most popular. Belts are widely used because they not only have a fashion purpose, but also a functional purpose.
Gloves remained the smallest category within apparel accessories in 2018, and also posted the slowest growth in current value terms. This is mainly due to the fact that Mexico has a hot climate in its coastal regions, and therefore the population enjoys sunny days and warm nights throughout the year.
Sportswear brands proved increasingly popular in hats/caps in 2018, as the athleisure trend gained relevance in Mexico. In particular, international sportswear brands such as Under Armour, Nike, adidas and Vans performed well through their own stores and also through third party retailers such as Innova Sports and Marti, which offer several of these brands.
The top three brands within apparel accessories belong to Inditex Group: Pull & Bear, Bershka and Zara. All of them are considered fast fashion brands, as they continuously launch new designs of apparel and accessories, which makes them attractive shopping destinations.
Apparel accessories was highly fragmented in 2018, with none of the leading brands reaching a double-digit value share, and smaller brands together accounting for a high value share. This can be explained by the wide availability of unbranded accessories such as scarves, hats/caps and gloves in small independent stores, and also by the growing presence of Mexican designer brands which do not have national recognition of distribution, but are achieving some popularity within specific local areas of influence.
Luxury brands from global fashion houses such as Louis Vuitton and Yves Saint Laurent performed well in apparel accessories in 2018. These brands target high-end consumers, who are less impacted by inflation or the country’s economic slowdown, and guide their purchasing decisions by the latest fashion trends.
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This industry report originates from Passport, our Apparel and Footwear market research database