Peru can be consolidated as a supplier of men's underwear in the US.

The sale of men's underwear would reach US $ 11,000 million in 2020, growing by 6% per year on average until then, according to Persistence Market Research, reported the Commercial Office ( Ocex) of Peru in New York .

This increase is more than double the growth rate expected for menswear in general and is also especially true in the US market, which is already over US$3 billion.

A key factor in the development of this industry is the focus on premium and innovative products. This fits very well with the high-quality Peruvian production that increasingly includes smart finishes.

The men's underwear category began to make great strides in its designs over the last 10 years, with innovative brands entering the market with different propositions.

Consumers today are more educated, and they expect the products they buy to come with more benefits. Premium underwear is approximately 20% of the men's underwear market and is a segment of the market that continues to grow.

Although it is clearly defined by its higher price, to belong to the category you must opt ​​for the use of high quality fabrics, which include innovative elements such as antimicrobial fibers, moisture absorption, which maintain the same shape all day, and designs that offer great comfort. Men are also increasingly willing to spend on brands and clothing with higher benefits.

Mack Weldon Mack Weldon, an e-commerce company founded in 2013, began as a premium men's underwear brand, which today has annual revenues of US$25 million and Peru is one of its main suppliers.

The company was formed after noticing that many customers found shopping for underwear to be a hassle. According to Brian Berger, co-founder and CEO of Mack Weldon : "You could never find what you'd already bought again, which is a problem in a category where customers really want consistency."

According to Berger, it is a category with a lot of product loyalty when they find a brand of their choice. More than 50% of new Mack Weldon customers become repeat customers, with 20% returning to shop within 60 days.

The company has already expanded its lines to hosiery, men's accessories, simple polo shirts, swimwear and loungewear, or comfortable casual wear.

Bonobos Similarly, Bonobos, founded in 2007, has grown into a $100 million company, selling all categories of menswear. In October 2017, after 15 months of development, they expanded their business into premium men's underwear.

Bonobos aims to meet a different need in the industry, providing quality materials with the perfect fit in staggered waist sizes from 28 to 40 instead of the traditional three: small, medium and large.

They are using a blend of 47% cotton, 47% acrylic, and 6% spandex. They include an antimicrobial, moisture-wicking fabric, a less restrictive elastic waistband, H-shaped opening for comfort and strategically placed meshes for better airflow.

Bonobos is currently offering one of their boxers for $34 or two pairs for $50. Approximately 70% of their knitwear is made in Peru and they now make their men's underwear in the country as well.

Even Fruit of the Loom , the well-known underwear specialist company, was rescued from bankruptcy in 2002 and they have recently announced that they will adjust their focus to develop premium products as well in order to stay relevant in the market.

Opportunity As in any premium segment, price is not the main factor, but the special characteristics of the garments, which represents an opportunity for Peruvian factories.

The Ocex of Peru in New York stated that exporters with specialized machinery, such as seamless manufacturing, working with fabrics with special benefits and better printing quality, will benefit from this trend.

It is very important to create internal innovation teams to develop fabrics with different components that incorporate more technical attributes, although their basis must continue to be natural fibers with their already recognized characteristics.

Therefore, the importation of any element that the garments need, elastic or special synthetics, must be efficient and fast. However, the ideal longer-term solution would be to create an integrated supply chain that allows more and more inputs to be produced within the country.

Speed ​​and response time for development and production will become increasingly critical to attracting, retaining, and satisfying demanding customers.

For example, extensions to the premium men's underwear category include quick-drying, breathable underwear, shorts and swimwear, and long underwear for the winter months, providing an opportunity not only for Pima cotton , but also for the alpaca.

The premium aspect that Peru offers, represented as an excellent combination of high-quality craftsmanship and modern manufacturing with special fibers, is what continues to attract companies like Mack Weldon and Bonobos to produce in the country.

The innovation and service quality of the Peruvian factories will be the key to maintaining the textile business and expanding it in the future.