Hosiery in Taiwan

2020 IMPACT

Some benefit for Taiwanese manufacturers as China goes into lockdown

When China entered lockdown due to COVID-19, many worldwide hosiery companies turned to Taiwan for their manufacturing orders, as Taiwanese manufacturing remains relatively cheap. However, as the COVID-19 situation became more stable in China, many global companies reverted to ordering their products from Chinese hosiery manufacturers.

Hosiery manufacturers branch into other categories to expand their offerings

Hosiery only comprises a small part of apparel in Taiwan. Therefore, to cope with the unstable demands during the COVID-19 pandemic, hosiery companies expanded their range to include new products from other apparel categories, such as underwear or apparels accessories.

Sun Flower Co retains its lead of hosiery with Uniqlo close behind

Domestic player Sun Flower Co will continue to lead sales of hosiery in 2020, supported by its affordable prices and products made from functional fabrics. The company continues to leverage its strength in the textile industry to offer socks featuring unique designs and breathable fabrics.

RECOVERY AND OPPORTUNITIES

High consumer price sensitivity to continue limiting current value sales

Many consumers are expected to remain price conscious following the COVID-19 pandemic and nervous to shop at in-store retailing channels, at least whilst the virus remains a threat. This will limit the development of luxury hosiery in Taiwan, while supporting the development of more affordable products, especially from fast-fashion retailers such as Uniqlo.

Personalised, colourful and quirky designs to continue developing

Over the forecast period, players within hosiery in Taiwan will look to boost current value sales by offering more personalised designs and additional features. Hosiery has become a notable item in recent years with foreign brands and local start-ups making colourful pairs and adding quirky designs.

Athleisure trend boosts interest in non-sheer hosiery, whilst sheer hosiery will continue to see declines

As with many areas of apparel and footwear, the athleisure trend is having an influence on hosiery in Taiwan, with it is set to boost demand in non-sheer hosiery. Consumers are showing growing demand for sports and trainer socks that match their outfits, thus benefiting players such as Nike and adidas.