US imported leather apparel and accessories worth $2.695 billion from China, which was 27.10 per cent of its total imports of $9.944 billion during January-September 2022. The imports registered an impressive growth of 29.46 per cent year on year (YoY). There was no spill over effect of US ban on cotton from Xinjiang region on leather products.China was the top supplier of leather products to the US with 27.10 per cent share during the period under review. The other top five suppliers were Italy

The exports of textile and apparel from the United States went up by 11.89 per cent year-on-year in the first ten months of this year. The value of exports stood at $21.039 billion during January-October 2022 compared to $18.802 billion in the same period of 2021, according to data from the Office of Textiles and Apparel, US department of commerce.Category-wise, apparel exports increased by 24.10 per cent year-on-year to $6.189 billion, while the exports of yarn ($3.907 billion) and fabric ($7.4

Jerseys and T-shirts will be the top performing products in the apparel segment during 2020-2025. The global jersey market is expected to grow at a compound annual growth rate (CAGR) of 6.78 per cent in this period, while that of T-shirts may grow at an annual rate of 6.55 per cent. Global apparel market is expected to grow at 4.50 per cent to reach $1,574 billion by the end of 2025.The global market of jerseys will grow to $311.78 billion by 2025. The product’s market size was $226.16 billion i

Warehouses run by high-street fashion retailers are stuck with unsold stock due to the ongoing global economic crisis, one of the reasons for which record high inflation has cut the consumers’ purchasing capacity in many countries. Apparel brands have left huge stocks of clothes in their warehouses, prompting manufacturers to reduce production or delay shipments.Figure: Warehouses run by high-street fashion retailers are stuck with unsold stock due to the ongoing global economic crisis.A report

The global custom t-shirt printing market size is anticipated to reach USD 9.18 billion by 2030, exhibiting a CAGR of 9.9% from 2022 to 2030, predicts Research and Markets.Increasing preference for fashionable, customized, and unique clothing, as well as rising disposable income within the young population, are major factors driving demand for custom t-shirts worldwide.Customized t-shirts are primarily targeted toward the young population as these t-shirts allow them to design a t-shirt matching

A study by US consultancy firm Bain & Company commissioned by Italy’s Altagamma association of high-end producers has found that luxury spending is growing faster than ever due to pent-up pandemic demand and shifting demographics. Global sales of personal luxury goods are expected to grow by 22 per cent this year to €353 billion from €290 billion in 2021.US sales are projected to hit €113 billion this year, while Europe is the globe’s second-largest market at €94 billion euros in sales.Young

Euro area and the European Union’s (EU) seasonally adjusted volume of retail trade grew by 0.4 per cent in September 2022, compared with August 2022, according to estimates from Eurostat, the statistical office of the EU. As compared to September 2021, the calendar adjusted retail sales index in September 2022 decreased by 0.6 per cent in the euro area and by 0.3 per cent in the EU.In August 2022, the retail trade volume remained stable in both the euro area and the EU.For both euro area and the

Global Fashion Group (GFG), the leading online fashion and lifestyle destination in growth markets, has reported a revenue growth of 6.7 per cent to reach €276.2 million in the third quarter (Q3) of fiscal 2023 (FY23). The company has also reported stable adjusted EBITDA margin and 2 per cent Net Merchandise Value (NMV) growth despite challenging market conditions.The company’s marketplace NMV achieved 32.5 per cent share of total NMV compared to 36.2 per cent in Q3 FY21. Its gross margin reache

German fashion brand Hugo Boss has raised its outlook for fiscal 2022 (FY22) and expects sales to grow between 25 and 30 per cent to a record level of between €3.5 billion and €3.6 billion. It expects EBIT to increase between 35 and 45 per cent. In the third quarter (Q3) of FY22, the company’s currency-adjusted group sales increased by 18 per cent year-over-year and 27 per cent compared to 2019 levels.Momentum in brick-and-mortar retail accelerated in the third quarter, rising by 25 per cent com

Around 15% of global fashion consumers are already highly concerned about sustainability and consistently make purchasing decisions to reduce their impact. This percentage could increase to over half of the fashion consumer in the coming years as more buyers gravitate towards sustainable practices.Figure: WWF published report showed that 15% of global fashion consumers are already highly concerned about sustainability.Recently, a report titled, ‘How Brands Can Embrace the Sustainable Fashion Opp