With everything that has been happening lately, there isn’t much that can still surprise me. But this one is interesting: in a recent article by WWD Men’s it appears that men’s luxury fashion is showing a global growth.

Reasons could range from a form of narcissism (men spending money on themselves to support their charisma) to some sort of identity-related phenomenon.

Either way, the question is whether this can represent a strategic opportunity for companies. As more online venues allow clients to connect online, a new range of opportunities is rising. With that in mind, a couple of strategic steps – some obvious, some maybe less – should be taken into consideration:
- Focusing marketing and communication budgets on men.
- Individuate local male mavens.
- Focus research to understand why and how would men in particular spend more on fashion in times like these.
- Reach out to men on relevant online venues using targeted advertising: LinkedIn, Facebook and select online men’s magazines.

Some aspects of life are more immune to economics. When it comes to identity, fashion and its statements sometimes appears to go beyond buying power. If what is happening is not just a trend but a fundamental in the market, this is a good opportunity to build a long-term strategy around it and reap some benefits when times finally start to get better.