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Spanish spending on apparel will grow 24% by 2017: Report
10
Sep '13
The expenditure on apparel by Spanish citizens will increase by about 24 percent from the current spending, says a latest report released by the Strategic Research Centre of the EAE Business School.
 
The report titled “The Textile and Clothing Expenditure 2013”, estimates that the spending on clothing in Spain in 2017 will be €25.669 million, which will be an increase of 24 percent compared to the current figures.
 
The study also expects a change in spending trend and says that 53 percent of amount spent on apparel would be for buying women’s clothing by 2017, followed by 34 percent on men’s clothing and 14 percent on kidswear. In comparison, the current distribution is 47 percent spent on womenswear, 35 percent on menswear and 18 percent on children’s clothing. 
 
The average spending per person in Spain on garments will increase by about 20 percent over the current spending to €543 by 2017, states the report.
 
Analyzing the state of the Spanish textile industry, the study notes that the number of companies engaged in textile production in Spain was 8,668 in 2012, which was 5.19 percent less than in 2011 and 46.4 percent less than the number of firms existed in 2002.
 
Around 66 percent of all textile and clothing companies in Spain are located in the four autonomous provinces of Catalonia, Madrid, Andalusia and Galicia, the study adds.
 
"International opening processes always have two sides of the same coin: one in which the most competitive producers are favored by the opening of new international markets, and the other, the local producers, who are affected by the presence of more competitive prices that affect their competitiveness in local markets and, indeed, that is the case of the textile sector in Spain,” said Juan Aitor Lake, director, Strategic Research Center of EAE, in a press release.
 

Fibre2fashion News Desk - India

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