Spanx for Men, the latest retail cash cow
Let’s call it like it is: underwear-related news is nothing we shy from here at EverydayMoney.ca.
Because, in many ways, undies and the economy can find themselves bunched together. Last month, the trend of cougars hoarding lingerie was reviving struggling department store business, and an infamous NPD Group study last year noted how underwear sales were actually one of the more accurate economic indicators.
And then there is this latest money-maker in the global underwear market: the powerful emergence of Spanx for Men.
According to the New York Times, the new line of Spanx (yes, the modern, Tyra Banks-used girdle/shapewear adopted traditionally by women) for Men is one of the year’s hottest products, flying off shelves of department stores after only four months on sale.
“We are selling them as quickly as Spanx can make them,” a Neiman Marcus source told the NYT. “Men may not be talking about it, but they’re buying it.”
Indeed, the idea of a man wearing shapewear may be quite embarrassing within the macho realm. Think Estelle Costanza walking in on husband, Frank, and Cosmo Kramer trying on the Bro/Manzier.
It’s no wonder online sales, according to a manager with department store Nordstrom, are huge then, despite solid in-store sales.
But hush-hush or not, Spanx’s line of male, uh, enhancing garments are still making the outfitter big bucks.
One reason, the price: by the retail tags on Spanx.com, the undershirts are no cheap fit – $58 for a t-shirt, $55 for a tank.
And the other, by Stephen Viscusi’s view, may be a reason Spanx for Men could be a trend here to stay.
Viscusi, a career coach, thinks all men over 40 should wear to Spanx to job interviews – “When you feel good about the way you look, you interview well,” he says, noting that when he donned the shapewear, they “gave me pecs, gave me definition, it gave me confidence.” – to hide the paunch that flops out as they approach their golden years.
Curious about Spanx for Men in Canada, gents? Currently, no stores carry the line, but Spanx.com will ship the garments north of the border for any fellows in need of some extra support.
By Jason Buckland, MSN Money
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