The Apparel industry entails companies that function by manufacturing, introducing, and supplying of apparels for several purposes. All the recognized operators in the worldwide apparel manufacturing industry make men’s, women’s and children’s apparel. The industry comprises manufacturers that buy fabrics and those that manufacture fabrics themselves and have fixed functional facilities. The apparel industry is comprised in the designing and manufacturing clothing and accessories for women, men, and children in the groupings of: casual wear, active wear, essentials, formal wear, and outer wear. The worldwide apparel industry comprises producing clothing for infants as well. A burgeoning trend amongst designers and manufacturers is integrating green, organic or sustainable features in the clothing they make and allocate. The fact that mass retailers have started devoting shelf space to such clothing is indicative of a greater trend soon to appear in the apparel industry. Consumer preferences and requirement are the predominant drivers for the apparel industry, but producing costs are also an aspect.
According to the report analysis, ‘Apparel Global Market Report 2020-30: Covid 19 Impact and Recovery’ states that NIKE Inc; Adidas AG; VF Corporation; PVH Corp; and Hanesbrands Inc. are the great players which recently operating in the apparel global market for leading the highest market growth and registering the great value of the market share while opting the strategies and policies of the joint ventures, mergers and acquisition, new product development, partnership and several others which further benefitted for generating the high percentage of revenue.
Not only has this, the significant augment in per capita income, favorable demographics, and a movement in preference to branded products are anticipated to drive the requirement for the market. The implementation of luxury lifestyle amongst consumers has propelled the purchasing power to opt for luxury wears amongst millennials. The efficient increase in fashion trends, coupled with the evolving retail scenario across brands, have been the foremost factor for the booming apparel market, despite being a mellowed market. As competition is steep, apparel companies often produce the alliances to present a stronger front. Efficacious advertising strategies and concentration in dedicated markets assist in allowing apparel corporates to generate increased revenue.
Nonetheless, the online apparel sales have seen a boom over the present years as consumers have progressively become more comfortable generating the wardrobe buys from their computers and handheld devices. The growth in online apparel sales is mainly accredited to web-only startups. An enhanced exposure to the internet and e-commerce has advanced the fashion awareness and availability of high-end brands and limited-edition products. The effective usage of influencers has made an impact on how beauty corporates market their products and look to increase sales.
Although, the increasing awareness on the opposing effects of textile industry on environment is encouraging consumers to opt for sustainable materials. Unlike the natural materials, synthetic fibers take long time to crumble as they are made from petroleum products. The Biological materials such as spider silk are light and have tensile forte that are utilized in making garments. Some of the corporates also started generating the decomposable synthetic version of spider silk. For example, Spiber Inc., a Japanese biomaterials specialist, was the first to introduce the artificial spider silk. The company utilizes genetically modified E.coli to generate the silk proteins which are used to harvest silk fibers. Apparel manufacturing corporate also have cameras associated to computers to detect the edge of a piece to transmit out stitching, thus indicating high degree of automation in the apparel producing industry.
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Ankur Gupta, Head Marketing & Communications