The apparel industry comprises sales of apparel by entities (organizations and sole traders) that manufacture apparel. There are three main categories of apparel that include men’s wear, women’s wear, and kid’s wear. Fashion shows such as Milan, London, Paris, Barcelona, New York, Rome, and Berlin are introducing new fashion trends for women as well as men globally. The global apparel industry market generated significant revenue in 2018 with a remarkable CAGR for the last few years. 

The growth has resulted from the increasing demand from emerging markets. In addition, growth in the e-commerce industry and supportive government regulations on the manufacturing of apparel and clothing drove the global apparel industry. However, the recent outbreak of COVID-19 had a dual impact on the global apparel industry. The novel COVID-19 has impacted the apparel industry in most of the regions including North America, Europe, Asia-Pacific, Rest of the World. 

Corona virus has gradually increased across the globe since it originated in the Wuhan City of China. Many European economies including Germany, France, Spain, and Italy which are experiencing a large number of cases with over 100,000 cases by the mid of March 2020. Moreover, many cities all across the globe are partial or total lock down for preventing the spread of the virus. It has created a negative impact on the apparel industry and caused brands and design houses to close down and postpone upcoming runway shows. Department store including Neiman Marcus, Macy’s, Nordstrom, Selfridges, and Saks Fifth Avenue have shut their operations. In addition, major events such as the CFDA Awards and the Met Gala have been postponed indefinitely. 

The prominent players studied in the global apparel industry include Nike Inc., Adidas AG, Ralph Lauren Corp., PVH Corp., VF Corp., and The TJX Companies Inc., among others. Due to the outbreak of the pandemic corona virus, the sales and revenue generation of these companies are largely affected as these players had to shut down their stores due to lock down. For instance, effective on March 19, the TJX Companies Inc. closed all of its stores in the US, Canada, Europe, and Australia for two weeks. In addition, the company is closing its online business, distribution centers, and offices. Moreover, after temporarily closing down its corporate headquarters in Beaverton, Oregon, Nike has now closed many of its retail stores across the US due to corona virus outbreak. The retail giant announced to shutter all of its stores in the US, Canada, Australia, Western Europe, and New Zealand for limiting the spread of corona virus. These stores will be closed through March 27.

Research Methodology

The study on the apparel industry is incorporated by extensive primary and secondary research conducted by the research team. In secondary research, different approaches have been adopted to derive the market value, market growth rate and analyze trends in the industry due to the COVID-19 pandemic. In the report, the analysis of the country is provided by analyzing various regional players, laws &policies, consumer behavior, macro-economic factors and impact of the pandemic. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures. Besides, an expected recovery timeline of the industry will also be provided with the best- and worst-case scenario which will aid the companies to take their future steps in the global entertainment industry.

Sources Include

• Financial reports of companies involved in the market
• Whitepapers, research-papers, and news blogs
• Company websites and their product catalog
• Government Organizations Reports

The report provides an in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.

The Report Covers

• Comprehensive research methodology of the Global Apparel Industry.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the Global Apparel Industry.
• Insights about market determinants that are stimulating the Global Apparel Industry.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.