Hosiery in Taiwan

2021 DEVELOPMENTS

Functional hosiery and production digitalisation are the main production trends

When China entered lockdown due to COVID-19 in 2020, 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; thanks to its low cost other brands enter the category

Sun Flower Co retains its lead of hosiery, though Uniqlo continues gaining share

Domestic player Sun Flower Co will continue to lead sales of hosiery in 2021, 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.

PROSPECTS 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.

Athleisure trend boosts interest in non-sheer hosiery to the detriment of the sheer category

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

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.