'China major opportunity for apparel brands'

10 Oct '14

2 min read

“China, although it is already well penetrated by apparel brands, still constitutes a major opportunity and is expected to contribute around 50% of absolute global growth by 2018”, says the Global Head of Apparel Research at Euromonitor International.

“But,” Magdalena Kondej adds, “The focus has shifted from coastal regions, which are becoming saturated to China's interior provinces and lower tier cities. There is also a group of other emerging markets in Asia, notably the Philippines, Vietnam, Malaysia, etc.

Magdalena Kondej was responding to a query from fibre2fashion on which are the most emerging markets and the most saturated markets in the apparel industry these days according to her.

She continues, “Basically apparel/fashion is beyond a need-based industry. Primarily, it is a desire/aspiration based market. On a basic level, consumers do need clothes but all business strategies within fashion are based around how to make consumers want to purchase more and more clothes and purchase these extra items from this particular brand rather than another one.

“So it is beyond just relying on consumers to replace their clothing, it is about creating additional sales. In this respect, although some markets can be considered saturated or maybe mature, which is a better phrase to use; there is always scope to grow sales.” (AR)

Click here to read the rest of the interview.

Fibre2fashion News Desk - India

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