May 18, 2020
Financial fashion’s 2020 menswear trend revealed
Fintech is not only disrupting finance; it’s re-defining financial fashion with traditional conservatism shunned in favour of ‘informal elegance’
Fintech pioneer eToro has put together the definitive financial fashion looks for 2020 and examines how, and why, financial fashion trends and style have evolved over the past 80 years.
Teaming up with prominent stylist and ‘urbane outfitter’ Chris Modoo, eToro has discovered fintech is not only shaking up the old financial order by revolutionising how we consume financial services, but it is also having a social and cultural impact by changing the way the industry dresses.
From the iconic bowler-hatted gent in the City of London to the brash stripes and braces synonymous with the trading floors of the eighties, eToro has tracked the evolution of fashion in finance. The look of today’s fintech entrepreneur is more likely to reflect the aspirational style of their customers than the ‘them and us’ uniform of the old-fashion bank manager.
“Our 2020 look says respectable, travel-friendly, and fashionable, but not aggressively so. Informal elegance. The classic wool trousers, worn in all its pleated correctness, is re-imagined with a drawstring waistband for ease and comfort. Knitwear is trim and practical with the old ‘City stripe’ shirt serving as a pop of colour.
“The blazer is the new suit, and soft, unstructured styles rule. The sneaker, once only worn in inclement conditions, is the go-to footwear for day-long comfort. The look is well put-together and considered as well as being disruptive and mildly subversive. It is the antithesis of the badly fitted blue suit and cheap shoes. Less formal but more elegant. A sartorial dichotomy.”
Simon Peters, an analyst at eToro wears Blazer by Mr Start, Shirt by Pink Shirtmaker, Trouser by Kit Blake, Sneakers by CQP. Grooming by Philip Hague (International Artistic Director, Toni & Guy)
Iqbal V. Gandham, UK Managing Director at eToro says: “Fashion and finance may not be seen as the two most natural bedfellows. Yet as the analysis shows, the uniforms we wear tell us a great deal about the industry we work in and how it has evolved. It’s clear that the tech-led disruption emanating from London’s Silicon Roundabout is not just revolutionising finance but has wider social connotations for how we think and dress.”
“Fashion trends tend to come from new ways of thinking and a groundswell of values shared by like-minded individuals, which for pioneers like eToro, means thinking – and indeed dressing – like the customers, we are in business to serve. Fintech is not just an £8.6trn economic revolution in the UK, it’s also a social and cultural phenomenon and should be regarded as such.”
eToro is an investment platform, famous for making investing more accessible to ordinary people by doing away with commission fees when buying and selling stocks. It is one of the driving forces of the UK fintech sector, which now encompasses an estimated 1,600 firms with that number projected to double by 2030. Nearly 80,000 people work in the sector and 20 million people in the UK use money management apps of some kind.