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Formal Menswear Retailing in Australia Industry Data and Analysis
The Formal Menswear Retailing industry has posted mixed results over the past five years. After pandemic shocks, demand for formal menswear plunged with WFH directives and fewer social gatherings hampering occasions to suit up. While workers have returned to the office in the post-pandemic environment, escalating cost-of-living pressures have dampened demand and sales of formal menswear. Retailers have also had to contend with a shift in dress codes as changing workplace cultures embrace business casual and smart casual attire over traditional menswear. Industry revenue is expected to tumble at an annualised 1.2% over the five years through 2025-26 to total $1.4 billion. This includes a hike of 1.6% in the current year owing to an anticipated easing of inflationary pressures and improved spending budgets.
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What's included in this industry analysis
IBISWorld's research coverage on the Formal Menswear Retailing industry in Australia includes market sizing, forecasting, data and analysis from 2015-2030. The most recent publication was released September 2025.
About this industry
What's this industry report about?
The Formal Menswear Retailing industry in Australia operates under the ANZSIC industry code OD5468. Industry operators primarily sell formal menswear, like suits, shirts, ties and jackets. Products are sourced from upstream manufacturers or wholesalers or produced in-house before being sold to downstream consumer markets. Retailers include online-only businesses and the online operations of bricks-and-mortar stores. Related terms covered in the Formal Menswear Retailing industry in Australia include point of sale (pos), formal attire and bespoke.
What's included in this industry?
Products and services covered in Formal Menswear Retailing industry in Australia include Suits and formal wear, Dress shirts and Coats.
What companies are included in this industry?
Companies covered in the Formal Menswear Retailing industry in Australia include Peter Jackson, MJ Bale and Ferrari East.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Formal Menswear Retailing industry in Australia.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed products and service segmentation and analysis of major markets for the for the Formal Menswear Retailing industry in Australia.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Formal Menswear Retailing industry in Australia.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Formal Menswear Retailing industry in Australia. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Formal Menswear Retailing industry in Australia. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Formal Menswear Retailing industry in Australia. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Formal Menswear Retailing industry in Australia. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Formal Menswear Retailing industry in Australia.
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Frequently Asked Questions
What is the market size of the Formal Menswear Retailing industry in Australia in 2026?
The market size of the Formal Menswear Retailing industry in Australia is $1.4bn in 2026.
How many businesses are there in the Formal Menswear Retailing industry in Australia in 2025?
There are 555 businesses in the Formal Menswear Retailing industry in Australia, which has grown at a CAGR of 0.7 % between 2020 and 2025.
How may import tariffs affect the Formal Menswear Retailing industry in Australia?
The Formal Menswear Retailing industry in Australia is unlikely to be materially impacted by import tariffs with imports accounting for a low share of industry revenue.
How may export tariffs affect the Formal Menswear Retailing industry in Australia?
The Formal Menswear Retailing industry in Australia is unlikely to be materially impacted by export tariffs with exports accounting for a low share of industry revenue.
Has the Formal Menswear Retailing industry in Australia grown or declined over the past 5 years?
The market size of the Formal Menswear Retailing industry in Australia has been declining at a CAGR of 1.2 % between 2020 and 2025.
What is the forecast growth of the Formal Menswear Retailing industry in Australia over the next 5 years?
Over the next five years, the Formal Menswear Retailing industry in Australia is expected to grow.
What are the biggest companies in the Formal Menswear Retailing industry in Australia?
The biggest companies operating in the Formal Menswear Retailing industry in Australia are Peter Jackson, MJ Bale and Ferrari East
What does the Formal Menswear Retailing industry in Australia include?
Suits and formal wear and Dress shirts are part of the Formal Menswear Retailing industry in Australia.
Which companies have the highest market share in the Formal Menswear Retailing industry in Australia?
The company holding the most market share in the Formal Menswear Retailing industry in Australia is Peter Jackson.
How competitive is the Formal Menswear Retailing industry in Australia?
The level of competition is moderate and increasing in the Formal Menswear Retailing industry in Australia.
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