Table of Contents
Apparel in Greece - Industry Overview
EXECUTIVE SUMMARY
2010 is a difficult year for the apparel market
Economic crisis holds back consumers
International brands take over the market
The market declines, but malls flourish
Future prospects
KEY TRENDS AND DEVELOPMENTS
Economic crisis transforms the apparel market
Malls expand, defying economic instability
Sportswear bucks the economic crisis
Discount period is expanded
Multinational chains outperform domestic players
MARKET DATA
Table 1 Sales of Apparel by Category: Volume 2005-2010
Table 2 Sales of Apparel by Category: Value 2005-2010
Table 3 Sales of Apparel by Category: % Volume Growth 2005-2010
Table 4 Sales of Apparel by Category: % Value Growth 2005-2010
Table 5 Apparel Company Shares 2006-2010
Table 6 Apparel Brand Shares 2007-2010
Table 7 Sales of Apparel by Distribution Format: % Analysis 2005-2010
Table 8 Sales of Apparel by Category and Distribution Format: % Analysis 2010
Table 9 Forecast Sales of Apparel by Category: Volume 2010-2015
Table 10 Forecast Sales of Apparel by Category: Value 2010-2015
Table 11 Forecast Sales of Apparel by Category: % Volume Growth 2010-2015
Table 12 Forecast Sales of Apparel by Category: % Value Growth 2010-2015
DEFINITIONS
Summary 1 Research Sources
Apparel in Greece - Company Profiles
BSB SA in Apparel (Greece)
STRATEGIC DIRECTION
KEY FACTS
COMPANY BACKGROUND
PRODUCTION
COMPETITIVE POSITIONING
Summary 3 BSB SA: Competitive Position 2010
Ersa's SA in Apparel (Greece)
STRATEGIC DIRECTION
KEY FACTS
COMPANY BACKGROUND
PRODUCTION
COMPETITIVE POSITIONING
Glou SA in Apparel (Greece)
STRATEGIC DIRECTION
Summary 5 Glou SA: Key Facts
COMPANY BACKGROUND
PRODUCTION
COMPETITIVE POSITIONING
Summary 6 Glou SA: Competitive Position 2010
INTERNET STRATEGY
H&M Hennes & Mauritz AE in Apparel (Greece)
STRATEGIC DIRECTION
KEY FACTS
COMPANY BACKGROUND
PRODUCTION
COMPETITIVE POSITIONING
Summary 8 H&M Hennes & Mauritz AE: Competitive Position 2010
INTERNET STRATEGY
Lemonis SA, F&K in Apparel (Greece)
STRATEGIC DIRECTION
KEY FACTS
COMPANY BACKGROUND
PRODUCTION
COMPETITIVE POSITIONING
Summary 10 Lemonis SA, F&K: Competitive Position 2010
INTERNET STRATEGY
Notos Com Holdings SA in Apparel (Greece)
STRATEGIC DIRECTION
KEY FACTS
COMPANY BACKGROUND
PRODUCTION
COMPETITIVE POSITIONING
Sprider SA in Apparel (Greece)
STRATEGIC DIRECTION
KEY FACTS
COMPANY BACKGROUND
PRODUCTION
COMPETITIVE POSITIONING
Summary 13 Sprider SA: Competitive Position 2010
INTERNET STRATEGY
Childrenswear in Greece - Category Analysis
HEADLINES
TRENDS
The economic crisis also affected childrenswear, but had a smaller impact than on other categories. Families with children faced the biggest problems because of the recession, and tried hard to cope with their expenses, turning to more economic products.
COMPETITIVE LANDSCAPE
Mothercare, continued to lead childrenswear in 2010 with a 5% value share, but this was a decline from 6% in 2009. The familiarity of its name and its wide range of products still attracted consumers, but the competition was getting stronger, and there was a move towards more affordable solutions, so the company saw its share shrinking.
PROSPECTS
Due to the economic crisis, which is expected to make things more difficult for families and consumers in general, there will be a trend towards cheaper solutions and conservative shopping. Companies which can offer quality and price will dominate childrenswear.
CATEGORY DATA
Table 13 Sales of Childrenswear by Category: Volume 2005-2010
Table 14 Sales of Childrenswear by Category: Value 2005-2010
Table 15 Sales of Childrenswear by Category: % Volume Growth 2005-2010
Table 16 Sales of Childrenswear by Category: % Value Growth 2005-2010
Table 17 Childrenswear Company Shares 2006-2010
Table 18 Childrenswear Brand Shares 2007-2010
Table 19 Sales of Childrenswear by Distribution Format: % Analysis 2005-2010
Table 20 Forecast Sales of Childrenswear by Category: Volume 2010-2015
Table 21 Forecast Sales of Childrenswear by Category: Value 2010-2015
Table 22 Forecast Sales of Childrenswear by Category: % Volume Growth 2010-2015
Table 23 Forecast Sales of Childrenswear by Category: % Value Growth 2010-2015
Clothing Accessories in Greece - Category Analysis
HEADLINES
TRENDS
The trend towards cheaper clothing accessories was apparent over the review period. The economic crisis affected a category which had always flourished because it gave the final touch to outerwear. More affordable products and fashionable products saw a better performance.
COMPETITIVE LANDSCAPE
Fashion Avenue, with the brand Alexi Andriotti, and Inditex, Industria de Diseño Textil continued to lead clothing accessories, with a very small difference between their value shares. The variety of their products, the trendy fashions they offer and their competitive prices are the main factors maintaining their strong positions in this category.
PROSPECTS
The economic crisis will slow the volume growth of clothing accessories, but will not stop it. The key trend will be fashionable accessories at reasonable prices, and matching the shift towards casualwear.
CATEGORY DATA
Table 24 Sales of Clothing Accessories by Category: Volume 2005-2010
Table 25 Sales of Clothing Accessories by Category: Value 2005-2010
Table 26 Sales of Clothing Accessories by Category: % Volume Growth 2005-2010
Table 27 Sales of Clothing Accessories by Category: % Value Growth 2005-2010
Table 28 Clothing Accessories Company Shares 2006-2010
Table 29 Clothing Accessories Brand Shares 2007-2010
Table 30 Sales of Clothing Accessories by Distribution Format: % Analysis 2005-2010
Table 31 Forecast Sales of Clothing Accessories by Category: Volume 2010-2015
Table 32 Forecast Sales of Clothing Accessories by Category: Value 2010-2015
Table 33 Forecast Sales of Clothing Accessories by Category: % Volume Growth 2010-2015
Table 34 Forecast Sales of Clothing Accessories by Category: % Value Growth 2010-2015
Footwear in Greece - Category Analysis
HEADLINES
TRENDS
The casual trend prevails, and is the main factor affecting sales in the category in 2010. Economy products are the first choice of consumers, who tend to combine casualwear with affordable choices due to the financial challenges they face.
COMPETITIVE LANDSCAPE
In 2010 the companies which led footwear were adidas, Nike, F&K Lemonis Group and Migato. Their association with quality and good taste in fashion kept them strong and reliable amongst consumers.
PROSPECTS
The economy will drive the pace of growth in the years to come. Economy shoes and fashionable casual footwear will grow and live up to the expectations of financially troubled consumers. As the coming years are likely to be even more difficult, there will be a need for brands to meet consumers’ demands.
CATEGORY DATA
Table 35 Sales of Footwear by Category: Volume 2005-2010
Table 36 Sales of Footwear by Category: Value 2005-2010
Table 37 Sales of Footwear by Category: % Volume Growth 2005-2010
Table 38 Sales of Footwear by Category: % Value Growth 2005-2010
Table 39 Footwear Company Shares 2006-2010
Table 40 Footwear Brand Shares 2007-2010
Table 41 Sales of Footwear by Distribution Format: % Analysis 2005-2010
Table 42 Forecast Sales of Footwear by Category: Volume 2010-2015
Table 43 Forecast Sales of Footwear by Category: Value 2010-2015
Table 44 Forecast Sales of Footwear by Category: % Volume Growth 2010-2015
Table 45 Forecast Sales of Footwear by Category: % Value Growth 2010-2015
Hosiery in Greece - Category Analysis
HEADLINES
TRENDS
The problems in the economy led consumers to find the most economic clothing solutions, driving them in search of the most competitive prices, and buying only what was necessary. Hosiery was not considered necessary, and lost share in the apparel market. Consumers preferred to manage with what was in their wardrobes, and replaced hosiery only when absolutely necessary.
COMPETITIVE LANDSCAPE
Stè Bic led hosiery in 2010 with an 11% value share, seeing an increase compared with 2009. This was expected, because the company distributes its products through a wide network, not only in apparel stores. In addition, no other company can compete with its prices, as they are amongst the cheapest in this category. Moreover, the Bic brand name, especially in tights, has been established over the years as combining quality and value.
PROSPECTS
Recession will be the key factor hampering the growth of hosiery, and only brands with affordable prices and smart policies will be able to survive and remain in the market. The shift to cheaper products will prevail.
CATEGORY DATA
Table 46 Sales of Hosiery by Category: Volume 2005-2010
Table 47 Sales of Hosiery by Category: Value 2005-2010
Table 48 Sales of Hosiery by Category: % Volume Growth 2005-2010
Table 49 Sales of Hosiery by Category: % Value Growth 2005-2010
Table 50 Hosiery Company Shares 2006-2010
Table 51 Hosiery Brand Shares 2007-2010
Table 52 Sales of Hosiery by Distribution Format: % Analysis 2005-2010
Table 53 Forecast Sales of Hosiery by Category: Volume 2010-2015
Table 54 Forecast Sales of Hosiery by Category: Value 2010-2015
Table 55 Forecast Sales of Hosiery by Category: % Volume Growth 2010-2015
Table 56 Forecast Sales of Hosiery by Category: % Value Growth 2010-2015
Men's Jeans in Greece - Category Analysis
HEADLINES
TRENDS
With the economic crisis affecting sales of men’s jeans, there was a similar trend in men’s jeans as in women’s jeans towards two opposite price platforms, economy and super premium jeans.
COMPETITIVE LANDSCAPE
Inditex, Industria de Diseño Textil held the lead in men’s jeans with a 9% share in 2010, a category which was more balanced between companies, whilst Levi Strauss & Co and Glou lost share. This shows an obvious trend towards casualwear which has affordable prices. Inditex’s brands have wide distribution networks, which favours the group.
PROSPECTS
The shift towards casualwear is expected to continue in the coming years, whilst problems in the economy are not expected to be overcome any time soon.
CATEGORY DATA
Table 57 Sales of Men’s Jeans: Volume 2005-2010
Table 58 Sales of Men’s Jeans: Value 2005-2010
Table 59 Sales of Men’s Jeans: % Volume Growth 2005-2010
Table 60 Sales of Men’s Jeans: % Value Growth 2005-2010
Table 61 Sales of Men’s Jeans by Type: % Volume Breakdown 2005-2010
Table 62 Sales of Men’s Jeans by Type: % Value Breakdown 2005-2010
Table 63 Men’s Jeans Company Shares 2006-2010
Table 64 Men’s Jeans Brand Shares 2007-2010
Table 65 Forecast Sales of Men’s Jeans: Volume 2010-2015
Table 66 Forecast Sales of Men’s Jeans: Value 2010-2015
Table 67 Forecast Sales of Men’s Jeans: % Volume Growth 2010-2015
Table 68 Forecast Sales of Men’s Jeans: % Value Growth 2010-2015
Men's Outerwear in Greece - Category Analysis
HEADLINES
TRENDS
The economic crisis did not leave much room for strong growth in men’s outerwear. There was a slight increase in the category overall, showing the trend towards economic choices and only necessary shopping. Men’s suits and men’s jumpers increased more strongly than other categories.
COMPETITIVE LANDSCAPE
Inditex, Industria de Diseño Textil, offering variety, frequently renewed collections, popular brands and, most of all, affordable prices, in GBO terms accounted for the biggest value share of 5% in men’s outerwear, increasing slightly from 2009. Companies such as Sprider and Glou watched their shares decline in 2010.
PROSPECTS
The future for men’s outerwear is uncertain as long as the economic crisis lasts. The shift towards casualwear will strengthen economy choices, and consumers’ shrinking incomes will set the scene for this category.
CATEGORY DATA
Table 69 Sales of Men’s Outerwear: Volume 2005-2010
Table 70 Sales of Men’s Outerwear: Value 2005-2010
Table 71 Sales of Men’s Outerwear: % Volume Growth 2005-2010
Table 72 Sales of Men’s Outerwear: % Value Growth 2005-2010
Table 73 Men’s Outerwear Company Shares 2006-2010
Table 74 Men’s Outerwear Brand Shares 2007-2010
Table 75 Sales of Men’s Outerwear by Distribution Format: % Analysis 2005-2010
Table 76 Forecast Sales of Men’s Outerwear: Volume 2010-2015
Table 77 Forecast Sales of Men’s Outerwear: Value 2010-2015
Table 78 Forecast Sales of Men’s Outerwear: % Volume Growth 2010-2015
Table 79 Forecast Sales of Men’s Outerwear: % Value Growth 2010-2015
Men's Underwear, Nightwear and Swimwear in Greece - Category Analysis
HEADLINES
TRENDS
Men were indifferent to new trends in underwear, nightwear and swimwear in 2010, trying to cope with their financial problems and preferring not to shop. The crisis in the market was apparent for this type of clothing.
COMPETITIVE LANDSCAPE
Triumph International led men’s underwear, nightwear and swimwear in 2010, with a huge distance from its competitors. Specifically, Triumph held a value share of 8%, whilst the second company, Calzedonia, held a 3% share. Triumph managed to remain the first choice amongst men when shopping for underwear, nightwear and swimwear due to its trusted name, its affordable prices and its retail policy.
PROSPECTS
The country’s financial instability will prevail in the coming years, making growth in the category difficult to recover. The restraint on expenses will turn consumers to buying only necessary products.
CATEGORY DATA
Table 80 Sales of Men’s Underwear, Nightwear and Swimwear by Category: Volume 2005-2010
Table 81 Sales of Men’s Underwear, Nightwear and Swimwear by Category: Value 2005-2010
Table 82 Sales of Men’s Underwear, Nightwear and Swimwear by Category: % Volume Growth 2005-2010
Table 83 Sales of Men’s Underwear, Nightwear and Swimwear by Category: % Value Growth 2005-2010
Table 84 Men’s Underwear, Nightwear and Swimwear Company Shares 2006-2010
Table 85 Men’s Underwear, Nightwear and Swimwear Brand Shares 2007-2010
Table 86 Sales of Men’s Underwear, Nightwear and Swimwear by Distribution Format: % Analysis 2005-2010
Table 87 Forecast Sales of Men’s Underwear, Nightwear and Swimwear by Category: Volume 2010-2015
Table 88 Forecast Sales of Men’s Underwear, Nightwear and Swimwear by Category: Value 2010-2015
Table 89 Forecast Sales of Men’s Underwear, Nightwear and Swimwear by Category: % Volume Growth 2010-2015
Table 90 Forecast Sales of Men’s Underwear, Nightwear and Swimwear by Category: % Value Growth 2010-2015
Women's Jeans in Greece - Category Analysis
HEADLINES
TRENDS
In women’s jeans, economy and super premium, the two opposites in terms of price, saw almost the same growth in 2010, proving on the one hand the shift of consumers towards casualwear and affordable prices, and on the other hand their preference for expensive brands which provide quality and reliability, no matter the price. Customers are reluctant to spend money on expensive products, but when they do, they turn to known and trusted brands.
COMPETITIVE LANDSCAPE
Inditex, Industria de Diseño Textil led women’s jeans with a 17% value share in 2010 in GBO terms, increasing its share by half a percentage point compared with 2009. The variety of jeans, the group’s popular brands and its competitive prices kept it high in terms of consumer choice. With a big difference, BSB saw a slight increase from the previous year, to reach a 9% share, but a vast drop of eight percentage points compared with 2008, whilst Sprider lost share, reaching 8% in 2010.
PROSPECTS
The coming years are expected to be difficult, because the economy is not expected to stabilise soon. There will also be a stronger trend towards casualwear; a fact which benefits this category.
CATEGORY DATA
Table 91 Sales of Women’s Jeans: Volume 2005-2010
Table 92 Sales of Women’s Jeans: Value 2005-2010
Table 93 Sales of Women’s Jeans: % Volume Growth 2005-2010
Table 94 Sales of Women’s Jeans: % Value Growth 2005-2010
Table 95 Sales of Women’s Jeans by Type: % Volume Breakdown 2005-2010
Table 96 Sales of Women’s Jeans by Type: % Value Breakdown 2005-2010
Table 97 Women’s Jeans Company Shares 2006-2010
Table 98 Women’s Jeans Brand Shares 2007-2010
Table 99 Forecast Sales of Women’s Jeans: Volume 2010-2015
Table 100 Forecast Sales of Women’s Jeans: Value 2010-2015
Table 101 Forecast Sales of Women’s Jeans: % Volume Growth 2010-2015
Table 102 Forecast Sales of Women’s Jeans: % Value Growth 2010-2015
Women's Outerwear in Greece - Category Analysis
HEADLINES
TRENDS
The recession brought strong scepticism in the market, as sales dropped rapidly. Even women’s outerwear, a category which usually excels in the apparel market because of its target group, could not avoid the impact of the financial crisis.
COMPETITIVE LANDSCAPE
Inditex, Industria de Diseño Textil again dominated women’s outerwear with a value share of 9% in 2010 in GBO terms, leaving every other company with a much smaller share. Zara and Bershka remained leaders because of their frequently renewed collections, their smart fashionable choices, their wide variety and competitive prices. Moreover, the group has attractive offers in terms of products and discounts on older collections of clothing.
PROSPECTS
The difficult economic situation is expected to continue in the years to come. Financial instability will be the key factor for movement in the category, driving consumers more to casual and less expensive choices.
CATEGORY DATA
Table 103 Sales of Women’s Outerwear: Volume 2005-2010
Table 104 Sales of Women’s Outerwear: Value 2005-2010
Table 105 Sales of Women’s Outerwear: % Volume Growth 2005-2010
Table 106 Sales of Women’s Outerwear: % Value Growth 2005-2010
Table 107 Women’s Outerwear Company Shares 2006-2010
Table 108 Women’s Outerwear Brand Shares 2007-2010
Table 109 Sales of Women’s Outerwear by Distribution Format: % Analysis 2005-2010
Table 110 Forecast Sales of Women’s Outerwear: Volume 2010-2015
Table 111 Forecast Sales of Women’s Outerwear: Value 2010-2015
Table 112 Forecast Sales of Women’s Outerwear: % Volume Growth 2010-2015
Table 113 Forecast Sales of Women’s Outerwear: % Value Growth 2010-2015
Women's Underwear, Nightwear and Swimwear in Greece - Category Analysis
HEADLINES
TRENDS
Women’s underwear, nightwear and swimwear saw a poor performance in 2010. Consumers’ finances did not leave them any room for additional expenses, driving them to buy only what was strictly necessary. Women preferred to save money on these garments, and spent as little as possible.
COMPETITIVE LANDSCAPE
Triumph International led women’s underwear, nightwear and swimwear with a 5% value share in 2010. Its known brand, the variety of its underwear and swimwear and competitive prices favoured the company, keeping it in the leading position for a number of years.
PROSPECTS
The recession is expected to change the face of the market, and people will shop even less in the coming years. The necessity for economy will hold back sales, and consumers will buy only the garments they need.
CATEGORY DATA
Table 114 Sales of Women’s Underwear, Nightwear and Swimwear by Category: Volume 2005-2010
Table 115 Sales of Women’s Underwear, Nightwear and Swimwear by Category: Value 2005-2010
Table 116 Sales of Women’s Underwear, Nightwear and Swimwear by Category: % Volume Growth 2005-2010
Table 117 Sales of Women’s Underwear, Nightwear and Swimwear by Category: % Value Growth 2005-2010
Table 118 Women’s Underwear, Nightwear and Swimwear Company Shares 2006-2010
Table 119 Women’s Underwear, Nightwear and Swimwear Brand Shares 2007-2010
Table 120 Sales of Women’s Underwear, Nightwear and Swimwear by Distribution Format: % Analysis 2005-2010
Table 121 Forecast Sales of Women’s Underwear, Nightwear and Swimwear by Category: Volume 2010-2015
Table 122 Forecast Sales of Women’s Underwear, Nightwear and Swimwear by Category: Value 2010-2015
Table 123 Forecast Sales of Women’s Underwear, Nightwear and Swimwear by Category: % Volume Growth 2010-2015
Table 124 Forecast Sales of Women’s Underwear, Nightwear and Swimwear by Category: % Value Growth 2010-2015