The apparel we wear can be highly individualized, representing our mood, identity, and background but is also affected by global trends, such as economics, sustainability, and popular culture. Manufacturers and retailers look to predict and even influence these trends to gain an advantage in the
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Where does our fashion come from?
The United States and China generate substantially higher revenues than any other country. It is no surprise then, that the same two countries play a significant role in international trade. In 2022, the U.S. was second only to the EU in the value of apparel imports. China led the rankings for the highest value of apparel exports, a ranking which was dominated by Asian countries. As sustainability becomes more of a concern, retailers in Europe and the U.S. may be faced with more pressure to move production closer to home.
Luxury vs. sportswear
The apparel market is dominated by the biggest companies. Nike is a standout performer, with the highest brand value of any mass apparel brand in 2024, at roughly 72 billion dollars. Moët Hennessy Louis Vuitton (LVMH) is another key player. LVMH had the highest market capitalization of all clothing companies in January 2025, at approximately 370.5 billion dollars.
One might think that a luxury fashion house and a sportswear company represent contrasting ends of the fashion spectrum. However, the distinction between these two categories has become increasingly blurred, as athleisure becomes more popular. In fact, many luxury brands now have collaborations with sportswear titans such as CDG x Salomon, Jacquemus x Nike and many other to name. These collaborations have proven to be beneficial to both participants, as sports brand looks to benefit from the prestige of luxury fashion, while high-end brands capitalize on the popularity of athletic wear.
How fashion executives are preparing for change
As experienced in recent years, supply chain issues and economic factors such as inflation can disrupt the apparel industry. In 2024, executives in the industry were split as to their expected change in the global fashion market conditions. Only around one quarter of experts were positive about the outlook for 2025.
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