Hong Kong Clothing Sector
Overview
Textile quotas had been eradicated among the WTO users in the first day of 2005 in accordance with the Agreement on Textiles and Apparel (ATC). Having said that, resistance to quota removing distribute inside the US and EU. Subsequently, China reached agreements with the EU along with the US in June and November 2005 respectively. The China-US settlement, effective from January 2006, governs the exports of a overall of 21 teams involving 34 groups of Chinese textiles and clothes items to your US through 2006-2008. The China-EU settlement, efficient from June 2005, addresses 10 classes of Chinese textiles and clothes exports to your EU in the course of 2005-2007.
On the other hand, the mainland and Hong Kong agreed in October 2005 to even more liberalise the mainland market for Hong Kong firms underneath the third stage in the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA III). In conjunction with other products and solutions of Hong Kong origin, the mainland agreed to provide all products of Hong Kong origin, which include apparel things, tariff-free procedure setting up from one January 2006. Based on the stipulated techniques, products which have no present CEPA principles of origin, will love tariff-free treatment method on applications by local brands and upon the CEPA rule of origins being agreed and satisfied.
Hong Kong clothing companies are respected for ODM and OEM output. They're able to produce high-quality garments articles to put it briefly lead time, as overseas importers and vendors ask for clothes suppliers to tighten up source chain administration to be sure the requested merchandise achieving the shop floor in the proper time. Ever more, Hong Kong clothes providers, the established kinds particularly, have revealed enthusiasm for brand name promotion.
Hong Kong's complete exports of clothing rose year-on-year by 9% from the first 11 months of 2005. While Hong Kong's re-exports of clothes rose by 20%, domestic exports fell by 14%. Within the initial eleven months of 2005, Hong Kong's clothes exports towards the US and EU rose by 11% and 18% respectively. While Hong Kong's garments exports to Japan levelled off, those towards the Chinese mainland declined by 11%.
Marketplace Functions
The outfits business is a key manufacturing sector of Hong Kong. Its gross output is probably the highest among the all producing sectors, amounting to HK$35.9 billion in 2003. It's the largest producing employer in Hong Kong, with 1,673 establishments hiring 28,752 personnel as of June 2005. It is also the top earner with regards to domestic exports, taking up 40% from the whole within the initially 11 months of 2005.
Hong Kong's geographic boundary hasn't constrained the development from the forward-looking apparel field. Nearly all of clothes producers have set up offshore generation services within an attempt to lower procedure expenditures. Relocation of generation amenities offshore has having said that resulted inside a steady drop during the amount of apparel makers in Hong Kong.
Hong Kong will not be just a top creation centre but additionally a hub for outfits sourcing globally. Organizations performing garment trade in Hong Kong are professional in materials procurement, gross sales and advertising and marketing, good quality management, logistic arrangements, garments styles and worldwide and nationwide policies and laws. The professionalism that they command and the put together providers presented usually are not effortlessly matched somewhere else. Which has a whole of 15,190 establishments choosing 95,889 employees, they kind the biggest team involved with import-export trade in Hong Kong.
Functionality of Hong Kong's Exports of Outfits
Hong Kong's whole exports of apparel rose year-on-year by 9% inside the very first eleven months of 2005. Whilst Hong Kong's re-exports of apparel rose by 20%, domestic exports fell by 14%. The contrasting general performance of Hong Kong's re-exports and domestic exports was mainly ascribed on the growing relocation of garment producing for the Chinese mainland, resulting from your removing of quotas beneath WTO's Arrangement on Textiles and Apparel (ATC). Although the declining development of domestic exports has become reversed relatively in latest months, as a consequence of the re-imposition of quantitative restraints on mainland-made textiles and clothing through the US and EU.
Retail revenue inside the US held agency while in the very first 11 months of 2005, mounting by practically 6% within the very same period of time from the previous year. From the very first eleven months of 2005, Hong Kong's outfits exports towards the US rose year-on-year by 11%.
During the initial eleven months of 2005, Hong Kong's complete clothes exports for the EU surged year-on-year by 18%. Clothing exports to major EU markets like France, Germany and Italy recorded progress charges in surplus of 20%.
Conversely, Hong Kong's outfits exports to Japan levelled off during the to start with 11 months of 2005 partly due to the pattern of direct shipment. Around the back from the rising income nevertheless, Japanese buyers are likely to resume their paying out spree on premium apparel items. In the meantime, Hong Kong's apparel exports into the Chinese mainland dropped by 11% while in the 1st eleven months of 2005, compared using the exact time period previous 12 months.
Product-wise, Hong Kong's exports of woven use rose by 12% while in the initially eleven months of 2005. Though woven wear for women/girls grew by 13%, people for men/boys recorded a advancement of 8% from your identical period during the past 12 months. Knitted use grew by 2%, with women/girls and men/boys increasing by 1% and 6% respectively. Even though clothing accessories declined by 3%, other clothing articles, for his or her portion, enhanced by 13%.
Income Channels
Hong Kong's apparel manufacturers have cast powerful interactions with their clients. They are able to recognize and cater for that tastes of quite broad shopper bases. Exporters also have great familiarity with international and nationwide policies and laws governing apparel exports, this sort of as rules of origin, quota constraints, tariff costs and documentation needs. Slash, make and trim (CMT) preparations are common despite the fact that lots of Hong Kong suppliers have moved to bigger value-added pursuits these types of as structure and brand development, high-quality regulate, logistics and substance sourcing.
A couple of well-established local companies have entered into your retailing company, either domestically or in overseas marketplaces. A lot of them have retail networks in important towns around the entire world including Beijing, London, Ny, San Francisco, Shanghai, Singapore, Sydney, Taipei and Tokyo. Some well-known manufacturing vendors consist of Baleno, Bossini, Crocodile, Episode, Esprit, G-2000, Giordano, JEANSWEST, Moiselle and U-2.
As a world wide sourcing hub in Asia, Hong Kong draws in several global investing residences and important shops. Buyers sourcing from Hong Kong include things like American and European malls (e.g. Macy's, JCPenney, Federated, Karstadt Quelle, C & A), discount merchants (e.g., Sears, Target and Carrefour), specialty chains (e.g., The Gap, The Limited) and mail order residences (e.g. Otto and Great Universal Suppliers). Quite a few global premium designer labels -- this kind of as Calvin Klein, Donna Karen, Ralph Lauren, Tommy Hilfiger and Yves Saint Laurent -- source clothes in Hong Kong through their buying offices or other intermediaries.
Hong Kong's fashion designers have been gaining worldwide reputation for their professional expertise, sensitivity to current trends and ability to blend commercialism with innovation. Medium to high-priced fashion apparel bearing Hong Kong designer labels is currently being sold/have been sold in renowned department shops overseas such as Bloomingdale's, C & A, Harrod's, Isetan, Macy's, Marui, Mitsukoshi, Nieman Marcus and Seibu.
Trade fairs and exhibitions remain common places for purchasers and suppliers of apparel to congregate. To establish connections and explore sector opportunities, Hong Kong brands and traders have involved themselves actively in worldwide shows led by the Hong Kong Trade Advancement Council (TDC), which includes the ones in Beijing, Chengdu, Dalian, Dubai, Dusseldorf, Hong Kong, Moscow, Mumbai, Paris and Tokyo. 'Hong Kong Fashion Week' is organised twice a 12 months and attracts global suppliers and purchasers to participate within the exhibition. Organised by TDC, 'World Boutique, Hong Kong' is the initially independent event in Hong Kong dedicated to promoting designers' collection and brands from all over the planet.
Business Trends
Changes in retail landscape: During the US and EU, large-scale suppliers are undergoing drastic restructuring and consolidation, especially, the growing prominence of hypermarkets these types of as Wal-Mart. To strengthen competitiveness, Sears and Kmart have merged to type the 3rd greatest retail group inside the US.
Growing importance of private labels: Private labels, in essence, have become an significantly productive advertising and marketing tool amongst garment suppliers. In order to differentiate as perfectly as upgrade the image of their solutions, main suppliers have started to put a stronger emphasis on their own labels. Based on Cotton Incorporated, private labels accounted for 45% of whole US apparel profits in 2003, up from 39% in 2001. In some adult apparel categories, this kind of as skirts, private labels accounted for as high as 76% with the complete income. Additionally it is estimated that 45% of products sold during the EU are sold underneath private labels. Renowned shops this kind of as H&M, Marks & Spencer, Orsay, Palmers, Pimkie, Springfield and Kookai have owned their private labels. As customers desire to have private labels on everyday garments like jeans, components and T-shirts, the doors are also open to the source of these clothes items to private label owners.
Growing interest in China's domestic market: The rapid expansion of mainland's economy has attracted great interest of Hong Kong outfits firms to explore its clothing market. A TDC survey on mainland's garment shoppers indicates that Hong Kong brands are ranked range a person through the respondents during the mid-range segment. Although global brands are most preferred within the high-end segment, mainland brands dominate the low-end. In addition, a similar survey finds out that within the eyes of mainland buyers, Hong Kong providers are extremely sturdy in casual wear, as they're generally of good layout and high quality. In essence, several mainland shoppers have developed a stronger awareness of Hong Kong brands through tour to and shopping in Hong Kong. Therefore, Hong Kong's casual have on has successfully projected a positive image to mainland consumers.
CEPA
On 18 October 2005, the mainland and Hong Kong agreed to even more liberalise the mainland marketplace for Hong Kong companies under the third stage of your Mainland and Hong Kong Closer Financial Partnership Arrangement (CEPA III). As well as other products of Hong Kong origin, the mainland agreed to offer all solutions of Hong Kong origin, together with clothing things, tariff-free treatment method commencing from one January 2006. According to the stipulated strategies, goods which have no existing CEPA guidelines of origin, will appreciate tariff-free therapy on apps by local makers and on the CEPA rule of origins currently being agreed and achieved. But non-Hong Kong produced outfits products will remain subject to tariff prices of 10-25% when entering the mainland.
The promulgated procedures of origin for clothes things to benefit from CEPA's tariff preference are fundamentally similar to the present procedures governing Hong Kong's exports of these merchandise. Generally speaking, the principal production process of cut-and-sewn garment is sewing of parts into garments. If linking and/or stitching is/are required, such process/processes must also be done in Hong Kong. For piece-knitted garment, if it can be manufactured from yarn, the principal process is knitting of yarn into knit-to-shape panel.
If the piece-knitted garment is manufactured from knit-to-shape-panels, the principal process is linking of knit-to-shape panels into garment. If stitching is required, it must also be done in Hong Kong.
Trade Measures Affecting Exports of Clothing
In accordance with the ATC, textile quotas were being eradicated among the WTO users with the 1st working day of 2005. Nonetheless, resistance to quota removing spread during the US and EU. Particularly within the US, China-specific safeguards on 10 classes of apparel goods from China had been invoked. Against this background, China achieved agreements with the EU and also the US in June and November 2005 respectively.
The China-US arrangement, powerful from January 2006, governs the exports of the overall of 21 groups involving 34 groups of Chinese textiles and apparel items towards the US during 2006-2008. It allows an annual development of 10-15% in 2006, 12.5-16% in 2007 and 15-17% in 2008. The China-EU arrangement, effective from June 2005, provides for an annual growth of 8-12.5% in ten groups of Chinese textiles and outfits exports towards the EU during 2005-2007. In addition, both EU and US agreed to exercise restraint in invoking China-specific safeguard against Chinese textiles and clothes that are not covered from the agreements.
Merchandise Trends
Formal Dressing: Whilst casual don accounts for that bulk of clothes income, a general trend towards stricter corporate dress codes has led to a growing demand for formal dressing, particularly suits. In accordance with a survey by Cotton Incorporated in late 2004/early 2005, 38.5% of respondents believe that people dressed too casually at work. This can be a 6.5 percentage point increase over a similar year-ago.
Teenager: Amongst the main driving forces of outfits sector appears to be the teenagers in the coming years. The number of teenagers during the US expects to increase from 31.six million in 2001 to 34.1 million in 2010. A new survey by Teenage Research Unlimited found that teens are saving money by price shopping. Even though JCPenney is their favourite division store, Target and Wal-mart are their favourite hypermarkets. In addition, Old Navy is their choices among the specialty apparel merchants.
Silver Marketplace: Ageing population becomes a widespread phenomenon in lots of developed countries in Europe as well as Japan and also the US. Elderly people constitute an important sector segment called 'silver market'. Supported by savings, social security benefits and pensions, several elderly people have rather powerful spending power. It is actually estimated that the age team of 65 calendar year and above accounted for about 21% of Japan's consumption expenditure in 2000. A survey conducted from the Japanese government also shows that people who are 60 years old and above possess almost three times the financial assets of people during the 40-50 age team. In the US, those people aged at or above 65 amounted to eighteen.1 million in 2001, as well as the quantity is expected to swell to 26 million in 2015.
Plus-size Marketplace: The plus-size market place has been an area of progress for several years, plus the development is expected to continue in the coming future. It truly is estimated that 65 million women of all ages within the US put on size fourteen or above. This group represents one-half on the US female population. It can be reported that some renowned brands have already responded towards the pattern by offering goods of larger size; these organizations incorporate Liz Claiborne, Ralph Lauren and Tommy Hilfiger.
Easy-care Clothes: Clothes designed of stain-resistant and wrinkle-free materials are very well received while in the industry. It can be estimated that about a quarter of clothing is now produced of easy-care fabrics, and its popularity is expected to continue while in the next number of years. While significant attire brands like Dockers and Liz Claiborne have already marketed extensively easy-care clothes, significant hypermarkets, like Wal-Mart, also offer more goods of these kinds of quality.
Source: Hong Kong Trade Progress Council
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Textile quotas had been eradicated among the WTO users in the first day of 2005 in accordance with the Agreement on Textiles and Apparel (ATC). Having said that, resistance to quota removing distribute inside the US and EU. Subsequently, China reached agreements with the EU along with the US in June and November 2005 respectively. The China-US settlement, effective from January 2006, governs the exports of a overall of 21 teams involving 34 groups of Chinese textiles and clothes items to your US through 2006-2008. The China-EU settlement, efficient from June 2005, addresses 10 classes of Chinese textiles and clothes exports to your EU in the course of 2005-2007.
On the other hand, the mainland and Hong Kong agreed in October 2005 to even more liberalise the mainland market for Hong Kong firms underneath the third stage in the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA III). In conjunction with other products and solutions of Hong Kong origin, the mainland agreed to provide all products of Hong Kong origin, which include apparel things, tariff-free procedure setting up from one January 2006. Based on the stipulated techniques, products which have no present CEPA principles of origin, will love tariff-free treatment method on applications by local brands and upon the CEPA rule of origins being agreed and satisfied.
Hong Kong clothing companies are respected for ODM and OEM output. They're able to produce high-quality garments articles to put it briefly lead time, as overseas importers and vendors ask for clothes suppliers to tighten up source chain administration to be sure the requested merchandise achieving the shop floor in the proper time. Ever more, Hong Kong clothes providers, the established kinds particularly, have revealed enthusiasm for brand name promotion.
Hong Kong's complete exports of clothing rose year-on-year by 9% from the first 11 months of 2005. While Hong Kong's re-exports of clothes rose by 20%, domestic exports fell by 14%. Within the initial eleven months of 2005, Hong Kong's clothes exports towards the US and EU rose by 11% and 18% respectively. While Hong Kong's garments exports to Japan levelled off, those towards the Chinese mainland declined by 11%.
Marketplace Functions
The outfits business is a key manufacturing sector of Hong Kong. Its gross output is probably the highest among the all producing sectors, amounting to HK$35.9 billion in 2003. It's the largest producing employer in Hong Kong, with 1,673 establishments hiring 28,752 personnel as of June 2005. It is also the top earner with regards to domestic exports, taking up 40% from the whole within the initially 11 months of 2005.
Hong Kong's geographic boundary hasn't constrained the development from the forward-looking apparel field. Nearly all of clothes producers have set up offshore generation services within an attempt to lower procedure expenditures. Relocation of generation amenities offshore has having said that resulted inside a steady drop during the amount of apparel makers in Hong Kong.
Hong Kong will not be just a top creation centre but additionally a hub for outfits sourcing globally. Organizations performing garment trade in Hong Kong are professional in materials procurement, gross sales and advertising and marketing, good quality management, logistic arrangements, garments styles and worldwide and nationwide policies and laws. The professionalism that they command and the put together providers presented usually are not effortlessly matched somewhere else. Which has a whole of 15,190 establishments choosing 95,889 employees, they kind the biggest team involved with import-export trade in Hong Kong.
Functionality of Hong Kong's Exports of Outfits
Hong Kong's whole exports of apparel rose year-on-year by 9% inside the very first eleven months of 2005. Whilst Hong Kong's re-exports of apparel rose by 20%, domestic exports fell by 14%. The contrasting general performance of Hong Kong's re-exports and domestic exports was mainly ascribed on the growing relocation of garment producing for the Chinese mainland, resulting from your removing of quotas beneath WTO's Arrangement on Textiles and Apparel (ATC). Although the declining development of domestic exports has become reversed relatively in latest months, as a consequence of the re-imposition of quantitative restraints on mainland-made textiles and clothing through the US and EU.
Retail revenue inside the US held agency while in the very first 11 months of 2005, mounting by practically 6% within the very same period of time from the previous year. From the very first eleven months of 2005, Hong Kong's outfits exports towards the US rose year-on-year by 11%.
During the initial eleven months of 2005, Hong Kong's complete clothes exports for the EU surged year-on-year by 18%. Clothing exports to major EU markets like France, Germany and Italy recorded progress charges in surplus of 20%.
Conversely, Hong Kong's outfits exports to Japan levelled off during the to start with 11 months of 2005 partly due to the pattern of direct shipment. Around the back from the rising income nevertheless, Japanese buyers are likely to resume their paying out spree on premium apparel items. In the meantime, Hong Kong's apparel exports into the Chinese mainland dropped by 11% while in the 1st eleven months of 2005, compared using the exact time period previous 12 months.
Product-wise, Hong Kong's exports of woven use rose by 12% while in the initially eleven months of 2005. Though woven wear for women/girls grew by 13%, people for men/boys recorded a advancement of 8% from your identical period during the past 12 months. Knitted use grew by 2%, with women/girls and men/boys increasing by 1% and 6% respectively. Even though clothing accessories declined by 3%, other clothing articles, for his or her portion, enhanced by 13%.
Income Channels
Hong Kong's apparel manufacturers have cast powerful interactions with their clients. They are able to recognize and cater for that tastes of quite broad shopper bases. Exporters also have great familiarity with international and nationwide policies and laws governing apparel exports, this sort of as rules of origin, quota constraints, tariff costs and documentation needs. Slash, make and trim (CMT) preparations are common despite the fact that lots of Hong Kong suppliers have moved to bigger value-added pursuits these types of as structure and brand development, high-quality regulate, logistics and substance sourcing.
A couple of well-established local companies have entered into your retailing company, either domestically or in overseas marketplaces. A lot of them have retail networks in important towns around the entire world including Beijing, London, Ny, San Francisco, Shanghai, Singapore, Sydney, Taipei and Tokyo. Some well-known manufacturing vendors consist of Baleno, Bossini, Crocodile, Episode, Esprit, G-2000, Giordano, JEANSWEST, Moiselle and U-2.
As a world wide sourcing hub in Asia, Hong Kong draws in several global investing residences and important shops. Buyers sourcing from Hong Kong include things like American and European malls (e.g. Macy's, JCPenney, Federated, Karstadt Quelle, C & A), discount merchants (e.g., Sears, Target and Carrefour), specialty chains (e.g., The Gap, The Limited) and mail order residences (e.g. Otto and Great Universal Suppliers). Quite a few global premium designer labels -- this kind of as Calvin Klein, Donna Karen, Ralph Lauren, Tommy Hilfiger and Yves Saint Laurent -- source clothes in Hong Kong through their buying offices or other intermediaries.
Hong Kong's fashion designers have been gaining worldwide reputation for their professional expertise, sensitivity to current trends and ability to blend commercialism with innovation. Medium to high-priced fashion apparel bearing Hong Kong designer labels is currently being sold/have been sold in renowned department shops overseas such as Bloomingdale's, C & A, Harrod's, Isetan, Macy's, Marui, Mitsukoshi, Nieman Marcus and Seibu.
Trade fairs and exhibitions remain common places for purchasers and suppliers of apparel to congregate. To establish connections and explore sector opportunities, Hong Kong brands and traders have involved themselves actively in worldwide shows led by the Hong Kong Trade Advancement Council (TDC), which includes the ones in Beijing, Chengdu, Dalian, Dubai, Dusseldorf, Hong Kong, Moscow, Mumbai, Paris and Tokyo. 'Hong Kong Fashion Week' is organised twice a 12 months and attracts global suppliers and purchasers to participate within the exhibition. Organised by TDC, 'World Boutique, Hong Kong' is the initially independent event in Hong Kong dedicated to promoting designers' collection and brands from all over the planet.
Business Trends
Changes in retail landscape: During the US and EU, large-scale suppliers are undergoing drastic restructuring and consolidation, especially, the growing prominence of hypermarkets these types of as Wal-Mart. To strengthen competitiveness, Sears and Kmart have merged to type the 3rd greatest retail group inside the US.
Growing importance of private labels: Private labels, in essence, have become an significantly productive advertising and marketing tool amongst garment suppliers. In order to differentiate as perfectly as upgrade the image of their solutions, main suppliers have started to put a stronger emphasis on their own labels. Based on Cotton Incorporated, private labels accounted for 45% of whole US apparel profits in 2003, up from 39% in 2001. In some adult apparel categories, this kind of as skirts, private labels accounted for as high as 76% with the complete income. Additionally it is estimated that 45% of products sold during the EU are sold underneath private labels. Renowned shops this kind of as H&M, Marks & Spencer, Orsay, Palmers, Pimkie, Springfield and Kookai have owned their private labels. As customers desire to have private labels on everyday garments like jeans, components and T-shirts, the doors are also open to the source of these clothes items to private label owners.
Growing interest in China's domestic market: The rapid expansion of mainland's economy has attracted great interest of Hong Kong outfits firms to explore its clothing market. A TDC survey on mainland's garment shoppers indicates that Hong Kong brands are ranked range a person through the respondents during the mid-range segment. Although global brands are most preferred within the high-end segment, mainland brands dominate the low-end. In addition, a similar survey finds out that within the eyes of mainland buyers, Hong Kong providers are extremely sturdy in casual wear, as they're generally of good layout and high quality. In essence, several mainland shoppers have developed a stronger awareness of Hong Kong brands through tour to and shopping in Hong Kong. Therefore, Hong Kong's casual have on has successfully projected a positive image to mainland consumers.
CEPA
On 18 October 2005, the mainland and Hong Kong agreed to even more liberalise the mainland marketplace for Hong Kong companies under the third stage of your Mainland and Hong Kong Closer Financial Partnership Arrangement (CEPA III). As well as other products of Hong Kong origin, the mainland agreed to offer all solutions of Hong Kong origin, together with clothing things, tariff-free treatment method commencing from one January 2006. According to the stipulated strategies, goods which have no existing CEPA guidelines of origin, will appreciate tariff-free therapy on apps by local makers and on the CEPA rule of origins currently being agreed and achieved. But non-Hong Kong produced outfits products will remain subject to tariff prices of 10-25% when entering the mainland.
The promulgated procedures of origin for clothes things to benefit from CEPA's tariff preference are fundamentally similar to the present procedures governing Hong Kong's exports of these merchandise. Generally speaking, the principal production process of cut-and-sewn garment is sewing of parts into garments. If linking and/or stitching is/are required, such process/processes must also be done in Hong Kong. For piece-knitted garment, if it can be manufactured from yarn, the principal process is knitting of yarn into knit-to-shape panel.
If the piece-knitted garment is manufactured from knit-to-shape-panels, the principal process is linking of knit-to-shape panels into garment. If stitching is required, it must also be done in Hong Kong.
Trade Measures Affecting Exports of Clothing
In accordance with the ATC, textile quotas were being eradicated among the WTO users with the 1st working day of 2005. Nonetheless, resistance to quota removing spread during the US and EU. Particularly within the US, China-specific safeguards on 10 classes of apparel goods from China had been invoked. Against this background, China achieved agreements with the EU and also the US in June and November 2005 respectively.
The China-US arrangement, powerful from January 2006, governs the exports of the overall of 21 groups involving 34 groups of Chinese textiles and apparel items towards the US during 2006-2008. It allows an annual development of 10-15% in 2006, 12.5-16% in 2007 and 15-17% in 2008. The China-EU arrangement, effective from June 2005, provides for an annual growth of 8-12.5% in ten groups of Chinese textiles and outfits exports towards the EU during 2005-2007. In addition, both EU and US agreed to exercise restraint in invoking China-specific safeguard against Chinese textiles and clothes that are not covered from the agreements.
Merchandise Trends
Formal Dressing: Whilst casual don accounts for that bulk of clothes income, a general trend towards stricter corporate dress codes has led to a growing demand for formal dressing, particularly suits. In accordance with a survey by Cotton Incorporated in late 2004/early 2005, 38.5% of respondents believe that people dressed too casually at work. This can be a 6.5 percentage point increase over a similar year-ago.
Teenager: Amongst the main driving forces of outfits sector appears to be the teenagers in the coming years. The number of teenagers during the US expects to increase from 31.six million in 2001 to 34.1 million in 2010. A new survey by Teenage Research Unlimited found that teens are saving money by price shopping. Even though JCPenney is their favourite division store, Target and Wal-mart are their favourite hypermarkets. In addition, Old Navy is their choices among the specialty apparel merchants.
Silver Marketplace: Ageing population becomes a widespread phenomenon in lots of developed countries in Europe as well as Japan and also the US. Elderly people constitute an important sector segment called 'silver market'. Supported by savings, social security benefits and pensions, several elderly people have rather powerful spending power. It is actually estimated that the age team of 65 calendar year and above accounted for about 21% of Japan's consumption expenditure in 2000. A survey conducted from the Japanese government also shows that people who are 60 years old and above possess almost three times the financial assets of people during the 40-50 age team. In the US, those people aged at or above 65 amounted to eighteen.1 million in 2001, as well as the quantity is expected to swell to 26 million in 2015.
Plus-size Marketplace: The plus-size market place has been an area of progress for several years, plus the development is expected to continue in the coming future. It truly is estimated that 65 million women of all ages within the US put on size fourteen or above. This group represents one-half on the US female population. It can be reported that some renowned brands have already responded towards the pattern by offering goods of larger size; these organizations incorporate Liz Claiborne, Ralph Lauren and Tommy Hilfiger.
Easy-care Clothes: Clothes designed of stain-resistant and wrinkle-free materials are very well received while in the industry. It can be estimated that about a quarter of clothing is now produced of easy-care fabrics, and its popularity is expected to continue while in the next number of years. While significant attire brands like Dockers and Liz Claiborne have already marketed extensively easy-care clothes, significant hypermarkets, like Wal-Mart, also offer more goods of these kinds of quality.
Source: Hong Kong Trade Progress Council
Fibre2fashion.com - Top B2B Portal and Marketplace of World wide Textile, Attire and Fashion Industry offers Cost-free Industry Article content, Textile Article content, Fashion Content articles, Marketplace Reports, Technology Article, Case Studies, Textile Marketplace News Articles, Latest Fashion Trends, Textile Current market Trends Reports and World-wide Sector Analysis.
To read more posts on Textile, Fashion, Attire, Technology, Retail and General please visit If you wish to download/republish the above article to your website or newsletters then please include things like the "Article Source?. Also, you have to make it hyperlinked to our site.
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