By Alexandria Sage 1 hour, 37 minutes ago LAS VEGAS (Reuters) - Competition and a move away from tailored dressing, only exacerbated by a weak economy, are hurting the men's suit business hard, and retailers are adding to manufacturers' pain by demanding more discounts.Suit vendors at a trade show this week described how men's taste for more casual clothing, a flood of low-cost rivals from Asia, and a recent pull-back in spending due to tough economic times are plaguing the suit industry, the most economically sensitive category in the apparel business.
"(Suit makers) can't withstand the competition and the downturn in the economy at the same time," Mark Lipman, vice president of national sales for Los Angeles suit maker and wholesaler Marina Imports, said at the Magic Marketplace apparel trade show. "It's a perfect storm."
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