Women's Fashion & Accessories
$965 Billion Global Market
The growth is attributed to growing female population, increasing number of working women, evolving fashion trends, and high spending power of consumers. Growing influence of social media and celebrities is driving the manufacturers to continuously introduce new designs and styles.
Furthermore, brands have been dedicating endeavors to expand their consumer base, whether it is through e-commerce sites, offering discounts, celebrity endorsements, or customization of fashion to suit individual needs.
Fashion is one of the biggest industries in the world.
“Fashion is one of the world’s most important industries, driving a significant part of the global economy. It is one of the key value-creating industries for the world economy. If it were ranked alongside individual countries’ GDP the global fashion industry would represent the seventh- largest economy in the world,’’ stated McKinsey in its State of Fashion report.
The fashion industry global revenue is estimated between $1.7 trillion and $2.5 trillion according to two different research reports by Euromonitor and McKinsey.
