Analysis: Hosiery pulls its socks up

The recent popularity of footless tights and opaques, as well as the emerging trend for over-the-knee socks, is finally helping to lift the hosiery market out of its 10-year slump

After almost a decade of decline, hosiery sales on the high street are soaring, with over-the-knee socks emerging as the accessory of the season.Last Friday was National Stockings Day and high street retailers certainly had reason to celebrate, with many chains reporting double- and triple-digit growth on last season as hosiery gets back in fashion.

According to research group Mintel, hosiery sales picked up last year, with the market growing to £272 million from £263m the previous year. This year it is expected to be worth £279m. But this is still down on 1998, when the market peaked at £398m.

Mintel adds that tights account for 70% of hosiery sales by volume and 74% by value, but these figures have dipped slightly thanks to the popularity of knee-highs, the only category in the hosiery market that has not slipped since 2002. The category accounts for a fifth of the market's value and its growth, according to Mintel, has been driven by the ongoing popularity of trousers. Sales of knee-highs, which also include socks, have grown by 11.8% between 2002 and 2006, with 57 million pairs sold last year.

Knee-highs have now been reinvented on the autumn 07 catwalks, with the likes of Prada and Miu Miu unveiling over-the-knee woollen socks as a key accessory for the season. This has prompted high street retailers to follow suit, with footwear chain Kurt Geiger launching socks for the first time this season. The retailer has sold 6,000 pairs of wool socks so far for autumn 07 and expects to average about 400 pairs per week.

Kurt Geiger has also unveiled a tie-up with luxury sock brand Pantherella, which has dedicated one of its factory machines solely to the production of Kurt Geiger socks. A spokesman for the footwear retailer says: "The tie-up has been so successful that we will be introducing extra colour drops for Christmas."

Luxury legwear brand Wolford says the trend for over-the-knee socks has "exploded" this season, adding that its key department store accounts are on waiting lists for more drops. A spokeswoman says: "They have been selling like hot cakes and everybody is buying into the trend, which has come from nowhere."

But it's not just over-the-knee styles that are outperforming this season. Wolford's other two tips for autumn 07 are opaque and ribbed tights. "Opaques have been popular for the last three seasons now, but for autumn 07 we've seen a shift from matte to shiny finishes," says the spokeswoman. "Matte styles are still selling very well, but shiny options are giving this season's offering more of a special feel.

"Ribbed tights have also proved very popular, as the trend for chunky knitwear extends from womenswear to legwear. Ribbed tights are everywhere – from fine hosiery to chunky knit styles."

Figleaves.com lingerie and hosiery buyer Denise Fraser agrees that autumn 07 is the season of the over-the-knee socks, but insists that stockings are still a key trend. "US actress Sarah Jessica Parker has prompted great demand for over-the-knee socks, but stocking sales are up considerably too – they actually took five of the top 10 slots in our hosiery bestsellers this month," she says. "Our hosiery is experiencing high double-digit sales growth and it is only the beginning of the season."

Lingerie chain La Senza reported a 156% hike in hosiery sales compared with last season, with stockings proving to be one of the most popular categories. Stockings have been flying off the shelves since they were introduced at the 171-strong chain, with sales increasing by 525% since 2002, according to the retailer.

"Stocking sales have been so successful recently," says a La Senza spokeswoman. "We now sell almost twice as many stockings as hold-ups, with our lacy-topped stockings proving the biggest hit in store."Mintel attributes the growth partly to the development of fashion hosiery and says that a quarter of UK women think tights are now more fashionable than they used to be, with most agreeing that the range of hosiery on offer has vastly improved. Higher hemlines and the return of skirts and dresses over the past few seasons have also contributed to the hosiery market's revival.

Even department store business John Lewis, which says black opaque tights are still its most popular style, is enjoying an increase in sales of its more fashion-led ranges. Anna Bray, assistant buyer for fashion accessories at the department store, says hosiery sales during August were up 6.7% on last year, with fashion hosiery up 30%. "The reason for this uplift is that women of all age groups are now buying tights as a considered purchase. With bold colours and interesting designs, tights can really build an outfit and make a statement. Bright pinks and cobalt blues have been really popular," she says.

Mintel predicts that there is more growth to come from footless tights in 2007, with skirts, dresses and city shorts remaining popular, but warns that manufacturers must continue to innovate to keep customers interested. Just as fashion retailers are trading up, Mintel suggests that the same trend will filter through to legwear, with luxury brands such as Wolford already using silk, cashmere and merino wool. Mintel predicts the market will increase by 15% between 2007 and 2012, rising to an estimated £322m. 

But more immediately, some retailers are preparing for next season. Value chain Peacocks predicts that over-the-knee socks will also continue to be a dominant force in the hosiery market come spring 08. The retailer has seen a surge in fashion sock sales and has moved its offer to the front of its stores, expecting the trend to be more of a long-term theme.

Buying and merchandising director Jane McNally says like-for-like hosiery sales at the retailer are up 90% this autumn compared with autumn 06. She says: "Knee-high socks have been flying off the shelves and ankle socks are doing really well too. I think we'll see this continue into spring, with lightweight, lacier styles."