The apparel trade in Spain is expected to grow by 1.5 to 3 percent during the 2014 year, said Business Association of Textile Trade and Accessories (ACOTEX) business development director Fernando Biel, during the ‘Prospects of Trade in Fashion’ conference organized by modaes.es at the recently held MFShow Men in Madrid.
Mr. Biel said ACOTEX expects that 2014 would turn out to be an optimistic year for apparel trade in the country, and growth in trade is expected to be between 1.5 to 3 percent, reports modaes.es.
According to the ACOTEX official, although retail sales of garments declined during most of 2013 year for the seventh consecutive time in Spain, retail sales in the sector fared better during the later part of the year, providing a better perspective for 2014.
The factors that would facilitate the improvement of apparel sales in the country include the gradual progress of the economic situation in Spain, as well as the decline in the rate of household savings increasing consumption, he added.
However, the ACOTEX official explained during the conference that despite the increase in sales, profit margins in the apparel trade would remain sluggish, and sales are expected to rise more on the account of special promotions or discounts offered by manufacturers throughout the year.
ACOTEX presented various perspectives and prospects in terms of apparel and fashion trade for the year 2014 during the modaes.es conference held at the second edition of MFShow Men in Madrid, jointly organized by ACOTEX, the Ministry of Education, Culture and Sports, and the Madrid City Council.