Apparel industry briefing
News in numbers
More than three fifths (62%) of consumers across global markets surveyed in the Digital Consumer Behavior report published by Avery Dennison believe brands and retailers should make end-of-life options for products.
On average Better Cotton production had a 19% lower greenhouse gas (GHG) emissions intensity per tonne of lint than comparison production across China, India, Pakistan, Tajikistan, and Turkey, according to a study analysing data from three seasons (2015-16 to 2017-18).
Asia-Pacific was the fastest growing region for digitalisation hiring among apparel industry companies in the three months ending October 2021, according to GlobalData with 12.5% of total digitisation jobs being made up by apparel industry roles. This is up from 1.5% for the same quarter last year.
Basic apparel maker Gildan Activewear has acquired Phoenix Sanford, LLC, the parent company of Frontier Yarns for about US$168m.
McKinsey’s State of Fashion 2022 report revealed that 67% of businesses expect to increase prices in 2022 on the back of supply chain pressures with an average uplift of 3%, while 14% of executives expect to increase prices by 10% or more.
Global cotton production is poised to show a 6% year-over-year increase in 2021/22 versus 2020/21, with the surge led by three of the world's top five producers — US, Brazil, and Pakistan, according to the International Cotton Advisory Committee (ICAC).
The smart and interactive apparel market will be worth almost US$6.5m and will have a compound annual growth rate (CAGR) of 12.2% between 2021 and 2028, according to Coherent Market Insights.
Just Style has evaluated the scores within GlobalData's Apparel Intelligence Center to reveal the top ten apparel sourcing countries to watch in 2022.
The Bangladesh apparel industry suffered a reduction in its exports of US$6bn from US$34.13bn in the financial year (FY - July-June) 2018-19 to $27.95bn in FY 2019-20, according to the Bangladesh Garment Manufacturers and Exporters Association (BGMEA).
The National Retail Federation (NRF) says holiday retail sales during November and December 2021 could now grow as much as 11.5% over the same period in 2020. That would exceed NRF’s previous expectation that holiday sales would be up between 8.5-10.5%.
BACK TO TOP