The revenue generated from the women’s apparel market is much higher than those of men’s or children’s apparel. In the U.S. alone, women’s apparel generated approximately 163 billion dollars in revenue. That’s more than the U.S. men’s and children’s markets combined.
There are numerous divisions within the apparel industry, many of which overlap. One of the most notable is the second-hand apparel industry, which is forecast to grow as the consumer demand for more environmentally conscious apparel options increases. The luxury market is also a key market in the apparel industry; it is projected to more than double in size from 2022 to 2028.
The apparel market is dominated by the biggest companies. Nike is a standout performer, generally placing in the top spots for selected financial metrics. For example, Nike had the highest brand value of any mass apparel brand in 2022, at roughly 110 billion dollars. Moët Hennessy Louis Vuitton is another company that consistently placed highly. LVMH had a market capitalization of 317 billion dollars in September 2022.
OVS was ranked as one of the most transparent fashion companies, in a 2022 study which evaluated how much information companies disclose about their suppliers, supply chain policies and practices, and social and environmental impact. The study shows that a lot of the world’s largest companies have a long way to go when it comes to revealing how ethically they run their operations.
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