Branded Apparel: A Global Strategic Business Report
San Jose, CA (Vocus) September 1, 2010
Branded apparel has long benefited from demographic shifts and changes in consumer preferences brought about by globalization, brand diversification and rise in brand awareness. With fashion sensibility emerging as a means of self-expression, consumers today increasingly prefer apparel with brand images or logos. The prolonged world economic recession has taken its toll on the Branded Apparel market. Slowing economies, unpredictable business climate, reduction in household wealth, crumbling consumer confidence, frugal discretionary spending patterns, shifting consumer focus towards value for money bargains, have all resulted in erosion in sales and thereby the market’s value. Decline in consumer spending has also impacted retailers’ operating margins. With consumers trading down to lower price points, value brands and private label brands have been offering stiff competition to premium brands. Premium priced branded apparel, which exhibited resilience at the start of the recession, has witnessed quick deterioration in business opportunities, driving several fashion houses across the world into financial distress.
Children’s branded apparel however offers a ray of hope for market participants in the branded apparel segment. While men, women’s and sports branded apparel have come under the yoke of the recession, children’s branded apparel although hurting exhibits greater resilience to the economic turmoil. This is primarily because scaling back of spending on baby/children’s branded apparel is typically not the priority among doting parents, who tend to skimp on budgets for their own clothes to provide the best for their children. Although not immune, unique consumer purchasing characteristics in this consumer cluster relatively cushions the blow of tough economic conditions. However, consumer’s search for a sturdy value proposition is a common thread that runs through all market segments.
To survive the downturn, players are making a value pitch and throwing their nets wider over a larger consumer base. For instance, in attempts to deflect the heat of the recession, manufacturers of branded apparel are increasingly focusing on consumers in tier 2 and 3 cities. Offering quality products at compelling competitive prices, while simultaneously ensuring against unwarranted brand dilution remains the key strategy for players to survive the downturn.
As stated by the new market research report on world branded apparel market, United States represents the world’s largest branded apparel market accounting for an estimated share of 29.26%, closely followed by Europe. However, growth in the branded apparel market remains encouraging in developing regions such as, Asia-Pacific, which displays the fastest CAGR of about 2.34% over the analysis period. By product segment, Women's Branded Apparel market continues to remain the largest segment, accounting for an estimated share of almost 50% in the total global branded apparel market. The Children’s Branded Apparel market however is the fastest growing segment, displaying a CAGR of about 2.64% over the analysis period.
Major players in the marketplace include Adidas AG, Reebok International Ltd, Arvind Limited, Benetton Group SpA, Ermenegildo Zegna Group, Esprit Europe GmbH, Giorgio Armani SpA, Guess? Inc, H&M (Hennes & Mauritz) AB, Jones Apparel Group Inc., Levi Strauss & Co, Nautica Enterprises Inc, NIKE Inc., OshKosh B'Gosh Inc., Oxford Industries Inc, Phillips-Van Heusen Corp, Picadilly Fashions, Raymond Limited, Sanyo Shokai Co Ltd., among others.
The report titled “Branded Apparel: A Global Strategic Business Report”, published by Global Industry Analysts, Inc., provides a comprehensive review of market trends, drivers, issues, profiles of major players, product developments and other strategic industry activities. The report provides market estimates and projections for major geographic markets such as United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe) Asia-Pacific, Latin America and Rest of World. Product segments analyzed include Men's Branded Apparel, Women's Branded Apparel, Children's Branded Apparel and Sports Branded Apparel.
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Branded_Apparel_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
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