Hong Kong Apparel Sector
Overview
Textile quotas have been eradicated among the WTO associates within the to start with day of 2005 in accordance with all the Settlement on Textiles and Apparel (ATC). However, resistance to quota removing spread inside the US and EU. Subsequently, China reached agreements along with the EU along with the US in June and November 2005 respectively. The China-US agreement, effective from January 2006, governs the exports of the whole of 21 groups involving 34 groups of Chinese textiles and garments merchandise for the US throughout 2006-2008. The China-EU settlement, productive from June 2005, covers 10 categories of Chinese textiles and clothes exports to the EU in the course of 2005-2007.
However, the mainland and Hong Kong agreed in October 2005 to further liberalise the mainland market for Hong Kong businesses beneath the 3rd period of your Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA III). In conjunction with other products of Hong Kong origin, the mainland agreed to provide all products and solutions of Hong Kong origin, including outfits merchandise, tariff-free therapy starting up from one January 2006. As outlined by the stipulated strategies, products and solutions that have no current CEPA procedures of origin, will delight in tariff-free therapy on programs by area makers and on the CEPA rule of origins being agreed and achieved.
Hong Kong outfits companies are reliable for ODM and OEM production. They can deliver high-quality garments content articles in a nutshell direct time, as international importers and vendors request clothing suppliers to tighten up provide chain administration to make certain the purchased items reaching the store flooring for the proper time. Progressively, Hong Kong clothing businesses, the proven types specifically, have shown enthusiasm for brand advertising.
Hong Kong's whole exports of clothing rose year-on-year by 9% in the initially eleven months of 2005. Whilst Hong Kong's re-exports of clothes rose by 20%, domestic exports fell by 14%. During the initially 11 months of 2005, Hong Kong's outfits exports towards the US and EU rose by 11% and 18% respectively. When Hong Kong's clothes exports to Japan levelled off, those people towards the Chinese mainland declined by 11%.
Field Options
The outfits industry can be a key producing sector of Hong Kong. Its gross output is among the optimum among the all production sectors, amounting to HK$35.9 billion in 2003. It is the premier producing employer in Hong Kong, with one,673 institutions using the services of 28,752 personnel as of June 2005. It is usually the main earner regarding domestic exports, using up 40% of your full during the first eleven months of 2005.
Hong Kong's geographic boundary has not constrained the event from the forward-looking clothes industry. Many apparel producers have set up offshore generation amenities in an attempt to lessen procedure charges. Relocation of output amenities offshore has nevertheless resulted inside of a regular decline from the amount of apparel manufacturers in Hong Kong.
Hong Kong is just not just a major output centre but will also a hub for garments sourcing globally. Corporations carrying out garment trade in Hong Kong are seasoned in fabrics procurement, income and marketing, high quality handle, logistic arrangements, clothing patterns and intercontinental and countrywide principles and rules. The professionalism which they command plus the put together services made available are certainly not conveniently matched elsewhere. Using a full of 15,a hundred ninety institutions selecting 95,889 personnel, they sort the largest team involved in import-export trade in Hong Kong.
Performance of Hong Kong's Exports of Garments
Hong Kong's complete exports of apparel rose year-on-year by 9% inside the 1st eleven months of 2005. Whilst Hong Kong's re-exports of apparel rose by 20%, domestic exports fell by 14%. The contrasting performance of Hong Kong's re-exports and domestic exports was mainly ascribed to the growing relocation of garment manufacturing into the Chinese mainland, resulting in the elimination of quotas beneath WTO's Agreement on Textiles and Clothes (ATC). Although the declining craze of domestic exports has become reversed to some degree in new months, because of the re-imposition of quantitative restraints on mainland-made textiles and clothes with the US and EU.
Retail sales in the US held company from the to start with 11 months of 2005, climbing by just about 6% from the similar interval during the former calendar year. From the to start with 11 months of 2005, Hong Kong's apparel exports on the US rose year-on-year by 11%.
From the initially eleven months of 2005, Hong Kong's overall garments exports for the EU surged year-on-year by 18%. Apparel exports to significant EU marketplaces like France, Germany and Italy recorded expansion charges in excessive of 20%.
Then again, Hong Kong's clothing exports to Japan levelled off during the initial 11 months of 2005 partly because of the craze of direct cargo. Around the again from the climbing revenue having said that, Japanese shoppers have a tendency to resume their paying spree on premium apparel things. In the meantime, Hong Kong's clothing exports to the Chinese mainland dropped by 11% within the to start with eleven months of 2005, in contrast using the similar time period previous year.
Product-wise, Hong Kong's exports of woven put on rose by 12% inside the initial eleven months of 2005. Whilst woven put on for women/girls grew by 13%, individuals for men/boys recorded a expansion of 8% in the similar period of time from the past 12 months. Knitted use grew by 2%, with women/girls and men/boys growing by 1% and 6% respectively. Whilst clothes components declined by 3%, other clothing content, for his or her section, increased by 13%.
Gross sales Channels
Hong Kong's outfits companies have forged potent associations with their clients. They can realize and cater for the tastes of quite broad client bases. Exporters even have good knowledge of worldwide and national procedures and polices governing clothes exports, such as procedures of origin, quota restrictions, tariff rates and documentation needs. Minimize, make and trim (CMT) arrangements are popular despite the fact that lots of Hong Kong suppliers have moved to greater value-added pursuits this kind of as layout and brand growth, excellent regulate, logistics and content sourcing.
A couple of well-established nearby brands have entered into the retailing enterprise, both regionally or in abroad markets. Lots of them have retail networks in significant cities all-around the earth such as Beijing, London, Big apple, San Francisco, Shanghai, Singapore, Sydney, Taipei and Tokyo. Some well-known production retailers involve Baleno, Bossini, Crocodile, Episode, Esprit, G-2000, Giordano, JEANSWEST, Moiselle and U-2.
Like a global sourcing hub in Asia, Hong Kong draws in several global trading homes and major vendors. Purchasers sourcing from Hong Kong include American and European shops (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 homes (e.g. Otto and Great Universal Suppliers). Quite a few worldwide high quality 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 his or her professional expertise, sensitivity to current trends and ability to blend commercialism with innovation. Medium to high-priced fashion clothing bearing Hong Kong designer labels is remaining sold/have been sold in renowned division shops overseas these types of as Bloomingdale's, C & A, Harrod's, Isetan, Macy's, Marui, Mitsukoshi, Nieman Marcus and Seibu.
Trade fairs and exhibitions remain prevalent places for potential buyers and suppliers of clothes to congregate. To establish connections and explore industry opportunities, Hong Kong producers and traders have associated themselves actively in international shows led from the Hong Kong Trade Improvement Council (TDC), like the kinds in Beijing, Chengdu, Dalian, Dubai, Dusseldorf, Hong Kong, Moscow, Mumbai, Paris and Tokyo. 'Hong Kong Fashion Week' is organised twice a year and draws in intercontinental suppliers and potential buyers to participate inside the exhibition. Organised by TDC, 'World Boutique, Hong Kong' is the 1st independent event in Hong Kong dedicated to promoting designers' collection and brands from close to the world.
Business Trends
Changes in retail landscape: Within the US and EU, large-scale suppliers are undergoing drastic restructuring and consolidation, particularly, the growing prominence of hypermarkets this kind of as Wal-Mart. To strengthen competitiveness, Sears and Kmart have merged to type the third largest retail team inside the US.
Growing importance of private labels: Private labels, in essence, have become an more and more successful marketing and advertising tool among garment stores. In order to differentiate as properly as upgrade the image of their merchandise, major retailers have started to put a stronger emphasis on their own labels. In keeping with Cotton Incorporated, private labels accounted for 45% of whole US clothing profits in 2003, up from 39% in 2001. In some adult attire groups, this sort of as skirts, private labels accounted for as high as 76% with the full product sales. It is also estimated that 45% of solutions sold in the EU are sold underneath private labels. Renowned vendors such as H&M, Marks & Spencer, Orsay, Palmers, Pimkie, Springfield and Kookai have owned their private labels. As shoppers desire to have private labels on everyday garments like jeans, equipment and T-shirts, the doors are also open to the source of these apparel products to private label owners.
Growing interest in China's domestic marketplace: The rapid expansion of mainland's economy has attracted great interest of Hong Kong garments providers to explore its clothes market place. A TDC survey on mainland's garment shoppers indicates that Hong Kong brands are ranked selection a single with the respondents during the mid-range segment. While global brands are most preferred while in the high-end segment, mainland brands dominate the low-end. In addition, precisely the same survey finds out that in the eyes of mainland shoppers, Hong Kong companies are very potent in casual dress in, as they are really generally of good layout and excellent. In essence, a lot of mainland shoppers have developed a stronger awareness of Hong Kong brands through tour to and shopping in Hong Kong. Therefore, Hong Kong's casual wear has successfully projected a positive image to mainland individuals.
CEPA
On eighteen Oct 2005, the mainland and Hong Kong agreed to even more liberalise the mainland market for Hong Kong providers underneath the third section on the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA III). In addition to other products and solutions of Hong Kong origin, the mainland agreed to give all solutions of Hong Kong origin, including clothing items, tariff-free cure setting up from one January 2006. According to the stipulated processes, goods that have no current CEPA guidelines of origin, will appreciate tariff-free treatment method upon apps by regional makers and upon the CEPA rule of origins currently being agreed and met. But non-Hong Kong built clothing items will remain subject to tariff rates of 10-25% when entering the mainland.
The promulgated principles of origin for clothes items to benefit from CEPA's tariff preference are essentially similar towards the current regulations governing Hong Kong's exports of these products and solutions. Generally speaking, the principal manufacturing 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 truly is 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 line with the ATC, textile quotas had been eradicated among WTO users with the 1st day of 2005. Having said that, resistance to quota removal spread within the US and EU. Particularly from the US, China-specific safeguards on ten classes of apparel things from China were invoked. Against this background, China achieved agreements with the EU along with the US in June and November 2005 respectively.
The China-US agreement, efficient from January 2006, governs the exports of a full of 21 groups involving 34 types of Chinese textiles and apparel products and solutions to your US in the course of 2006-2008. It allows an annual expansion of 10-15% in 2006, twelve.5-16% in 2007 and 15-17% in 2008. The China-EU agreement, efficient from June 2005, provides for an annual expansion of 8-12.5% in 10 categories of Chinese textiles and garments exports to your EU for the duration of 2005-2007. In addition, both EU and US agreed to exercise restraint in invoking China-specific safeguard against Chinese textiles and outfits that will not be covered within the agreements.
Product or service Trends
Formal Dressing: While casual have on accounts with the bulk of clothing gross sales, a general development towards stricter corporate dress codes has led to a climbing demand for formal dressing, particularly suits. In line with a survey by Cotton Incorporated in late 2004/early 2005, 38.5% of respondents believe that people dressed too casually at work. This is usually a six.5 percentage point increase over the identical year-ago.
Teenager: Considered one of the significant driving forces of clothing sector appears to be the teenagers inside the coming years. The volume of teenagers in the US expects to increase from 31.6 million in 2001 to 34.one million in 2010. A latest survey by Teenage Research Unlimited found that teens are saving money by benefit shopping. Whilst JCPenney is their favourite section store, Target and Wal-mart are their favourite hypermarkets. In addition, Old Navy is their choices among specialty clothing stores.
Silver Industry: Ageing population becomes a popular phenomenon in numerous developed countries in Europe as nicely as Japan and the US. Elderly people constitute an important market place segment called 'silver market'. Supported by savings, social security benefits and pensions, several elderly people have rather strong spending power. It's estimated that the age group of 65 calendar year and above accounted for about 21% of Japan's consumption expenditure in 2000. A survey conducted through the Japanese government also shows that people who are 60 years old and above possess almost three times the financial assets of those while in the 40-50 age team. While in the US, people aged at or above 65 amounted to eighteen.1 million in 2001, and also the range is expected to swell to 26 million in 2015.
Plus-size Sector: The plus-size current market has become an area of progress for many years, plus the craze is expected to continue while in the coming future. It's estimated that 65 million females while in the US use size fourteen or above. This group represents one-half in the US female population. It can be reported that some renowned brands have already responded towards the development by offering items of larger size; these businesses include things like Liz Claiborne, Ralph Lauren and Tommy Hilfiger.
Easy-care Clothes: Clothes made of stain-resistant and wrinkle-free materials are effectively received from the market. It truly is estimated that about a quarter of attire is now created of easy-care fabrics, and its popularity is expected to continue from the next handful of years. While big apparel brands like Dockers and Liz Claiborne have already marketed extensively easy-care clothes, key hypermarkets, like Wal-Mart, also offer more items of these high-quality.
Source: Hong Kong Trade Advancement Council
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Textile quotas have been eradicated among the WTO associates within the to start with day of 2005 in accordance with all the Settlement on Textiles and Apparel (ATC). However, resistance to quota removing spread inside the US and EU. Subsequently, China reached agreements along with the EU along with the US in June and November 2005 respectively. The China-US agreement, effective from January 2006, governs the exports of the whole of 21 groups involving 34 groups of Chinese textiles and garments merchandise for the US throughout 2006-2008. The China-EU settlement, productive from June 2005, covers 10 categories of Chinese textiles and clothes exports to the EU in the course of 2005-2007.
However, the mainland and Hong Kong agreed in October 2005 to further liberalise the mainland market for Hong Kong businesses beneath the 3rd period of your Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA III). In conjunction with other products of Hong Kong origin, the mainland agreed to provide all products and solutions of Hong Kong origin, including outfits merchandise, tariff-free therapy starting up from one January 2006. As outlined by the stipulated strategies, products and solutions that have no current CEPA procedures of origin, will delight in tariff-free therapy on programs by area makers and on the CEPA rule of origins being agreed and achieved.
Hong Kong outfits companies are reliable for ODM and OEM production. They can deliver high-quality garments content articles in a nutshell direct time, as international importers and vendors request clothing suppliers to tighten up provide chain administration to make certain the purchased items reaching the store flooring for the proper time. Progressively, Hong Kong clothing businesses, the proven types specifically, have shown enthusiasm for brand advertising.
Hong Kong's whole exports of clothing rose year-on-year by 9% in the initially eleven months of 2005. Whilst Hong Kong's re-exports of clothes rose by 20%, domestic exports fell by 14%. During the initially 11 months of 2005, Hong Kong's outfits exports towards the US and EU rose by 11% and 18% respectively. When Hong Kong's clothes exports to Japan levelled off, those people towards the Chinese mainland declined by 11%.
Field Options
The outfits industry can be a key producing sector of Hong Kong. Its gross output is among the optimum among the all production sectors, amounting to HK$35.9 billion in 2003. It is the premier producing employer in Hong Kong, with one,673 institutions using the services of 28,752 personnel as of June 2005. It is usually the main earner regarding domestic exports, using up 40% of your full during the first eleven months of 2005.
Hong Kong's geographic boundary has not constrained the event from the forward-looking clothes industry. Many apparel producers have set up offshore generation amenities in an attempt to lessen procedure charges. Relocation of output amenities offshore has nevertheless resulted inside of a regular decline from the amount of apparel manufacturers in Hong Kong.
Hong Kong is just not just a major output centre but will also a hub for garments sourcing globally. Corporations carrying out garment trade in Hong Kong are seasoned in fabrics procurement, income and marketing, high quality handle, logistic arrangements, clothing patterns and intercontinental and countrywide principles and rules. The professionalism which they command plus the put together services made available are certainly not conveniently matched elsewhere. Using a full of 15,a hundred ninety institutions selecting 95,889 personnel, they sort the largest team involved in import-export trade in Hong Kong.
Performance of Hong Kong's Exports of Garments
Hong Kong's complete exports of apparel rose year-on-year by 9% inside the 1st eleven months of 2005. Whilst Hong Kong's re-exports of apparel rose by 20%, domestic exports fell by 14%. The contrasting performance of Hong Kong's re-exports and domestic exports was mainly ascribed to the growing relocation of garment manufacturing into the Chinese mainland, resulting in the elimination of quotas beneath WTO's Agreement on Textiles and Clothes (ATC). Although the declining craze of domestic exports has become reversed to some degree in new months, because of the re-imposition of quantitative restraints on mainland-made textiles and clothes with the US and EU.
Retail sales in the US held company from the to start with 11 months of 2005, climbing by just about 6% from the similar interval during the former calendar year. From the to start with 11 months of 2005, Hong Kong's apparel exports on the US rose year-on-year by 11%.
From the initially eleven months of 2005, Hong Kong's overall garments exports for the EU surged year-on-year by 18%. Apparel exports to significant EU marketplaces like France, Germany and Italy recorded expansion charges in excessive of 20%.
Then again, Hong Kong's clothing exports to Japan levelled off during the initial 11 months of 2005 partly because of the craze of direct cargo. Around the again from the climbing revenue having said that, Japanese shoppers have a tendency to resume their paying spree on premium apparel things. In the meantime, Hong Kong's clothing exports to the Chinese mainland dropped by 11% within the to start with eleven months of 2005, in contrast using the similar time period previous year.
Product-wise, Hong Kong's exports of woven put on rose by 12% inside the initial eleven months of 2005. Whilst woven put on for women/girls grew by 13%, individuals for men/boys recorded a expansion of 8% in the similar period of time from the past 12 months. Knitted use grew by 2%, with women/girls and men/boys growing by 1% and 6% respectively. Whilst clothes components declined by 3%, other clothing content, for his or her section, increased by 13%.
Gross sales Channels
Hong Kong's outfits companies have forged potent associations with their clients. They can realize and cater for the tastes of quite broad client bases. Exporters even have good knowledge of worldwide and national procedures and polices governing clothes exports, such as procedures of origin, quota restrictions, tariff rates and documentation needs. Minimize, make and trim (CMT) arrangements are popular despite the fact that lots of Hong Kong suppliers have moved to greater value-added pursuits this kind of as layout and brand growth, excellent regulate, logistics and content sourcing.
A couple of well-established nearby brands have entered into the retailing enterprise, both regionally or in abroad markets. Lots of them have retail networks in significant cities all-around the earth such as Beijing, London, Big apple, San Francisco, Shanghai, Singapore, Sydney, Taipei and Tokyo. Some well-known production retailers involve Baleno, Bossini, Crocodile, Episode, Esprit, G-2000, Giordano, JEANSWEST, Moiselle and U-2.
Like a global sourcing hub in Asia, Hong Kong draws in several global trading homes and major vendors. Purchasers sourcing from Hong Kong include American and European shops (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 homes (e.g. Otto and Great Universal Suppliers). Quite a few worldwide high quality 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 his or her professional expertise, sensitivity to current trends and ability to blend commercialism with innovation. Medium to high-priced fashion clothing bearing Hong Kong designer labels is remaining sold/have been sold in renowned division shops overseas these types of as Bloomingdale's, C & A, Harrod's, Isetan, Macy's, Marui, Mitsukoshi, Nieman Marcus and Seibu.
Trade fairs and exhibitions remain prevalent places for potential buyers and suppliers of clothes to congregate. To establish connections and explore industry opportunities, Hong Kong producers and traders have associated themselves actively in international shows led from the Hong Kong Trade Improvement Council (TDC), like the kinds in Beijing, Chengdu, Dalian, Dubai, Dusseldorf, Hong Kong, Moscow, Mumbai, Paris and Tokyo. 'Hong Kong Fashion Week' is organised twice a year and draws in intercontinental suppliers and potential buyers to participate inside the exhibition. Organised by TDC, 'World Boutique, Hong Kong' is the 1st independent event in Hong Kong dedicated to promoting designers' collection and brands from close to the world.
Business Trends
Changes in retail landscape: Within the US and EU, large-scale suppliers are undergoing drastic restructuring and consolidation, particularly, the growing prominence of hypermarkets this kind of as Wal-Mart. To strengthen competitiveness, Sears and Kmart have merged to type the third largest retail team inside the US.
Growing importance of private labels: Private labels, in essence, have become an more and more successful marketing and advertising tool among garment stores. In order to differentiate as properly as upgrade the image of their merchandise, major retailers have started to put a stronger emphasis on their own labels. In keeping with Cotton Incorporated, private labels accounted for 45% of whole US clothing profits in 2003, up from 39% in 2001. In some adult attire groups, this sort of as skirts, private labels accounted for as high as 76% with the full product sales. It is also estimated that 45% of solutions sold in the EU are sold underneath private labels. Renowned vendors such as H&M, Marks & Spencer, Orsay, Palmers, Pimkie, Springfield and Kookai have owned their private labels. As shoppers desire to have private labels on everyday garments like jeans, equipment and T-shirts, the doors are also open to the source of these apparel products to private label owners.
Growing interest in China's domestic marketplace: The rapid expansion of mainland's economy has attracted great interest of Hong Kong garments providers to explore its clothes market place. A TDC survey on mainland's garment shoppers indicates that Hong Kong brands are ranked selection a single with the respondents during the mid-range segment. While global brands are most preferred while in the high-end segment, mainland brands dominate the low-end. In addition, precisely the same survey finds out that in the eyes of mainland shoppers, Hong Kong companies are very potent in casual dress in, as they are really generally of good layout and excellent. In essence, a lot of mainland shoppers have developed a stronger awareness of Hong Kong brands through tour to and shopping in Hong Kong. Therefore, Hong Kong's casual wear has successfully projected a positive image to mainland individuals.
CEPA
On eighteen Oct 2005, the mainland and Hong Kong agreed to even more liberalise the mainland market for Hong Kong providers underneath the third section on the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA III). In addition to other products and solutions of Hong Kong origin, the mainland agreed to give all solutions of Hong Kong origin, including clothing items, tariff-free cure setting up from one January 2006. According to the stipulated processes, goods that have no current CEPA guidelines of origin, will appreciate tariff-free treatment method upon apps by regional makers and upon the CEPA rule of origins currently being agreed and met. But non-Hong Kong built clothing items will remain subject to tariff rates of 10-25% when entering the mainland.
The promulgated principles of origin for clothes items to benefit from CEPA's tariff preference are essentially similar towards the current regulations governing Hong Kong's exports of these products and solutions. Generally speaking, the principal manufacturing 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 truly is 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 line with the ATC, textile quotas had been eradicated among WTO users with the 1st day of 2005. Having said that, resistance to quota removal spread within the US and EU. Particularly from the US, China-specific safeguards on ten classes of apparel things from China were invoked. Against this background, China achieved agreements with the EU along with the US in June and November 2005 respectively.
The China-US agreement, efficient from January 2006, governs the exports of a full of 21 groups involving 34 types of Chinese textiles and apparel products and solutions to your US in the course of 2006-2008. It allows an annual expansion of 10-15% in 2006, twelve.5-16% in 2007 and 15-17% in 2008. The China-EU agreement, efficient from June 2005, provides for an annual expansion of 8-12.5% in 10 categories of Chinese textiles and garments exports to your EU for the duration of 2005-2007. In addition, both EU and US agreed to exercise restraint in invoking China-specific safeguard against Chinese textiles and outfits that will not be covered within the agreements.
Product or service Trends
Formal Dressing: While casual have on accounts with the bulk of clothing gross sales, a general development towards stricter corporate dress codes has led to a climbing demand for formal dressing, particularly suits. In line with a survey by Cotton Incorporated in late 2004/early 2005, 38.5% of respondents believe that people dressed too casually at work. This is usually a six.5 percentage point increase over the identical year-ago.
Teenager: Considered one of the significant driving forces of clothing sector appears to be the teenagers inside the coming years. The volume of teenagers in the US expects to increase from 31.6 million in 2001 to 34.one million in 2010. A latest survey by Teenage Research Unlimited found that teens are saving money by benefit shopping. Whilst JCPenney is their favourite section store, Target and Wal-mart are their favourite hypermarkets. In addition, Old Navy is their choices among specialty clothing stores.
Silver Industry: Ageing population becomes a popular phenomenon in numerous developed countries in Europe as nicely as Japan and the US. Elderly people constitute an important market place segment called 'silver market'. Supported by savings, social security benefits and pensions, several elderly people have rather strong spending power. It's estimated that the age group of 65 calendar year and above accounted for about 21% of Japan's consumption expenditure in 2000. A survey conducted through the Japanese government also shows that people who are 60 years old and above possess almost three times the financial assets of those while in the 40-50 age team. While in the US, people aged at or above 65 amounted to eighteen.1 million in 2001, and also the range is expected to swell to 26 million in 2015.
Plus-size Sector: The plus-size current market has become an area of progress for many years, plus the craze is expected to continue while in the coming future. It's estimated that 65 million females while in the US use size fourteen or above. This group represents one-half in the US female population. It can be reported that some renowned brands have already responded towards the development by offering items of larger size; these businesses include things like Liz Claiborne, Ralph Lauren and Tommy Hilfiger.
Easy-care Clothes: Clothes made of stain-resistant and wrinkle-free materials are effectively received from the market. It truly is estimated that about a quarter of attire is now created of easy-care fabrics, and its popularity is expected to continue from the next handful of years. While big apparel brands like Dockers and Liz Claiborne have already marketed extensively easy-care clothes, key hypermarkets, like Wal-Mart, also offer more items of these high-quality.
Source: Hong Kong Trade Advancement Council
Fibre2fashion.com - Leading B2B Portal and Marketplace of World wide Textile, Clothing and Fashion Market offers No cost Business Content, Textile Articles or blog posts, Fashion Article content, Business Reports, Technology Article, Case Studies, Textile Business News Articles or blog posts, Latest Fashion Trends, Textile Sector Trends Reports and Worldwide Market Analysis.
To read more content on Textile, Fashion, Clothing, Technology, Retail and General please visit If you wish to download/republish the above article to your website or newsletters then please incorporate the "Article Source?. Also, you have to make it hyperlinked to our site.
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