Statistics

This industry, focuses (primarily) on how clothes are made and designed. The  textile courses and fashion degree  given to all candidates appearing for examinations in fashion designing institute or fashion designing colleges all around the world. 

From the era when humans paid little or no attention to clothing and fashion business, there have been a paradigm shift, and the world is gradually moving to the era where the best fashion designing institutes is playing a major role in people’s life.

According to statistical data provided by Fashion United, the 2017 value of the global fashion Industry worth about 3 trillion dollars, contributing 2% of the world’s Gross Domestic Product. In the same vein, Statistica projects that the fashion market from the United States from 2012- 2025 is expected to grow from 350 billion USD in 2015, to 385 billion USD in 2025; a little downward slope from what is excepted in the Asia Pacific region which includes India. This alarming increase is not far fetched. Clothing lines and brands are attracting tons of investors; the fabric and textile market in South East Asia is receiving massive boom. A couple of fashion designers are working round the clock to update their designs and correct mistakes done in old editions. The global market is adding tremendously to the world’s Gross Domestic Product.

Industry Overview

Fashion is obviously an aspect of human life that cannot be undermined. This has created an industry for itself and today, the fashion and garment industry is a multi billion dollar merchandise devoted to the business of making, selling and designing clothes. The British Encyclopedia illustrates the fashion industry as “the style (or styles) of clothing accessories worn at any given time by groups of people”. It further explained that ” there may be differences between the expensive designer fashion shown on the runways of Paris or New York, and the mass produced sportswear and street styles sold in malls and markets around the world”. The fashion and garments industry in its entirety, do not just cut across design making and manufacturing. There are other aspects such as brand promotion and advertising, marketing and sales of designer wears.

Every now and then, fashion shows are organized by top brand dealers, and every now and then, the runway is graced with beautiful designs worn by models as camera flashes lighten the air. Red carpets do no stop seeing the beauty of these designs as they are worn by celebrities and other notable personalities around the world. This is a pointer to the fact that the industry, despite the craze it is attracting, is on it’s way to taking over the world stage. From the most expensive couture and designer fashion, down to regular designers and to the aspect of fabrics, there is a sense of class, a touch of perfection and  an aura of elegance that cannot be ignored.

Because of its growth, the fashion industry, have attracted other accessories such as production of footwear – shoes and sandals. Interestingly, a couple of designers that once specialized in the clothing industry have been able to add the making of footwear into their brand.

Economically, this industry have opened huge doors of investments. It has provided a strong base for revenue generation, trade has received  a makoty boost as well. Advanced models of marketing, advertising and showcasing brands to the public have been employed, owing to the advancement attracted by this industry. One can therefore not deny the very fact that this industry has greatly benefited the world’s economy and provided a beautiful benchmark for human capital development. According to postulations, the labor intensity in the industry is likely to increase in coming years since the industry keeps experiencing large scale growth and advancement.

 

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