Home / Knowledge / News / Apparel/Garments / Apparel market growing at 2-3% since 2008 economic crisis
Apparel market growing at 2-3% since 2008 economic crisis
Jun '18
Apparel market growing at 2-3% since 2008 economic crisis
The global apparel market has been experiencing a slowdown in growth to some 2-3 per cent per year, since 2009, as a result of the economic crisis that started in 2008. In the past few years, it has worked under volatile global macro-economic conditions. The fashion market has become a very competitive market with high pressure on margins.

“There are also positive signs. In its latest World Economic Outlook, the International Monetary Fund (IMF) indicates that the growth of the world economy in 2018 and 2019 will be 3.9 per cent on an average. Economic growth in the European Union (EU) will be 2.4 per cent, Japan 1.2 per cent, and the US 2.9 per cent. The conclusion is that strong economic growth will be there in other parts of the world too like in India, China and Brazil,” said Han Bekke, president, International Apparel Federation, during an exclusive conversation with Fibre2Fashion.

The International Apparel Federation is the world's leading federation for apparel manufacturers, their associations, and the supporting industry. IAF's membership now includes apparel associations from more than 40 countries representing over 150,000 companies who provide products and services to the apparel industry - a membership that represents over 20 million employees.

He said that the major challenges currently being faced by the apparel sector include changing consumer behaviour. “According to the McKinsey survey 'State of Fashion 2018', consumers have become more demanding, more discerning and less predictable. This is challenging for companies in our sector who in my view have to reconsider their business models. Speed to market is key. Innovation is needed next to a sustainability approach.”

Talking about the image of the apparel industry, Bekke said, “The adverse impact of apparel on the environment-in some cases on workers-and also a deteriorating perception of value caused by price races to the bottom are creating image problems for the industry. A negative image of an industry is really the largest threat any industry can face collectively, and can also only improve collectively. Industry associations, industry initiatives and global federations such as IAF, ITMF and WFSGI are in a good position to play this collective role.”

“Through projects, we support better collaboration between buyers and suppliers, we help reduce audit and standard fatigue and to improve their effectiveness, we support global schemes to increase the share of circular fashion, and we strive to better connect the worlds of large brands and retailers to the millions of small and medium-sized businesses in our industry,” he added.

Click here to read the complete interview.

Fibre2Fashion News Desk – India

Must ReadView All

Courtesy: Ministry of Trade and Industry, Singapore

Textiles | On 14th Nov 2018

Vietnam ratifies trans-Pacific trade pact CPTPP

Vietnam’s 14th National Assembly recently adopted a resolution...

Courtesy: Pexels

Textiles | On 14th Nov 2018

India's WPI inflation for apparel up 0.7% in October

India’s annual rate of inflation, based on monthly wholesale price...

Courtesy: EU Chamber of Commerce

Textiles | On 14th Nov 2018

PRC promises unrealised: EU Chamber of Commerce in China

The European Union (EU) Chamber of Commerce in China has said the...

Interviews View All

Amardeep Singh, Orient Craft

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Kaizad Hansotia, GetNatty

Kaizad Hansotia

Competition is the best thing that can happen to a startup

Priyanka, Studio Priyanka Rajiv

Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Rajat Jaipuria,

Rajat Jaipuria

Activewear brand Soul Space promotes organic cotton farming and...

Umang Banthia,

Umang Banthia

Established in 2005, SL Banthia Textiles manufactures coated fabrics....

Kalai Selvi,

Kalai Selvi

Vidyashilp Academy in Bengaluru is the country's first Fairtrade School....

Johan Berlin, InvestKonsult Sweden AB

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Iago Castro Asensio, RCfil Distribuciones S.L.

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Pierre Wiertz, EDANA

Pierre Wiertz

EDANA, the international association serving the nonwovens and related...

Divvya and Nidhhi Gambhir, Walnut

Divvya and Nidhhi Gambhir

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Wendell Rodricks, Wendell Rodricks

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Nisha Chanda, Whistling Woods International School of Fashion

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

November 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category

Related Categories:

Advanced Search