107 billion Number of garments sold in 2017
$1,344 billion Global fashion garment sales in 2017
+17% Expected growth in global garment sales from 2017 to 2021, to reach $1,575 billion
The global fashion market continues to find an equilibrium between Western countries (+0.6% growth in 2017) and Asia-Pacific countries (+4.9%). Consumer satisfaction, particularly from millennials, is at the heart of issues facing fashion players – brands, distributors and manufacturers – with or without their own brands.
Confronted by high expectations for personalization, quality and respect for the environment, brands are sharpening their processes and differentiating themselves by personalizing their products thanks to technology and data analysis. Influenced by ultra-fast fashion and e-commerce, delivery times to market are the number one concern for the fashion industry.
This industry is digitalizing – little by little – in order to optimize every stage of product lifecycles. The factory is playing a central role: smart and connected, it is becoming more agile in order to manage in parallel several production models, from mass production to made-to-measure. The majority of clothing and footwear production is in China, which is modernizing its factories and investing heavily to open new industrial sites in South-East Asia. Countries such as Bangladesh and Vietnam continue to win market share and expand their role in the value chain.