Apparel and Footwear in 2015: Trends, Developments and Prospects

Resilient global apparel and footwear market growth despite economic headwinds

The delivers another year of solid growth in 2014 despite weakness in key markets including China, Russia and Brazil and ongoing difficulties in Western Europe.

Asia Pacific growth is slowing but region still remains the number one opportunity

Despite a slowdown in the Chinese economy, Asia Pacific remains the largest regional apparel and footwear market. International brands will continue to penetrate the region’s lower-tier cities especially in China where rising incomes will see market growth become more widespread.

US continues solid recovery

The US has shown solid post-recession recovery and the future looks promising. Although in 2015 China will take its leading position as the world’s largest market, performance and the expansion in the US will remain key for all fashion brands looking for global dominance.

Outlook for Western Europe is showing tentative signs of improvement

Although 2014 brought virtually no growth to the Western European apparel and footwear market, there are signs of a pick-up and positive momentum across some of the markets including Greece, Spain and Portugal, and 2015 is expected to be a year of fragile recovery following seven years of weak performance.

Menswear: the new growth area for the fashion industry

In 2014, the menswear category increased by 4.5% compared to 3.7% for womenswear and by 2019 will contribute and additional US$40 billion in sales to the global apparel and footwear market, leaving considerable capacity for category development. Men’s shirts, jeans, and jackets and coats are forecast to be the star performers.

Sportswear and comfort dressing to inspire innovation across all categories

The dynamic growth of performance and sports-inspired apparel and footwear has initiated a slow-burning but inexorable shift to comfort dressing as part of daily lifestyles. The shift is already visible across most categories, including denim, where brands are using innovation to drive growth and meet consumer needs.