Boohoo is set to launch a men’s tailored collection this August, featuring a combination of jackets, trousers and waistcoats. When bought collectively the items will total a nifty £100.
The fast-fashion e-tailer will be sourcing traditional Italian materials for its formal wear - offering its young customers a taste of smart dressing at a smart price.
Keeping on trend, the brand has said that it will be adding to its shirt line, incorporating new neck shapes and collar detailing. If the new tailoring collection proves to be successful, it will be rolled out into 2016.
Boohoo’s respectable sales growth is similar to its e-commerce competitors Missguided, Pretty Little Thing and ASOS’s own label. The e-tailing market has experienced substantial growth in revenue and profits in the past year, as consumers turn to online for quick, inexpensive fashion.
The budget retailer reported a 23% rise in pre-tax profits in last year’s half-year results, to £34.5m. It saw revenue jump by almost a third early last year, and its continual strong growth has been the impact of a 2.7m increase in consumers in 2014.
The fashion brand’s tailored collection should draw in additional young customers. The early-autumn collection will be made up of four jackets, trousers and waistcoats, combining the ethos of luxury fashion with Boohoo’s trendy style.
Menswear designer James Pilcher said: “This is the first true tailored range we’ve done at Boohoo. We’ve seen menswear getting a lot more tailored; it’s been trending for a while now. With the lower price points, we want to open it up to a younger customer.”
Boohoo’s core consumer market is aged 16 to 24-year-olds and half of the e-tailer’s sales traffic comes via mobile devices. Earlier this month, Boohoo announced it will sell a trial collection of around 100 items of womenswear through Asos.com starting in May. It also plans to see tailored menswear designs make it onto the online platform in the near future.
By Natalie Whitmore