[Infographic] Global Fashion Industry

As a fashion and clothing company, we at Sugar-Army.com have an interesting outlook on the subject of fashion. Our approach to the entire industry might be a bit more different – with a hint of silliness, some inside jokes and a good time – and here’s what we’ve learned about the intricacy of the entire fashion industry.

Fashion is more complicated than you though

You’d be surprised by it, but the fashion industry, in its entirety, is worth more than 3,000 billion $ of annual income each year. That means that it makes up 2% of the entire global domestic income – making it one of the largest industries in the world.

The most prominent industry in this sector, seems to be womenswear – with more than 621 billion dollars, it has a majority share of that 3,000 billion annual gross income. After that the menswear market follows suit with 402 billion, proving that women do spend more money on clothing than men.

Surprisingly, the least income comes from bridal wear, making the bridal industry the least profitable – at least compared to the other 5. In third place we have the luxury good market – making more than 339.4 billion per annum.

Even though it caters to sports enthusiasts and professional athletes, sports footwear comes into second to last place with 90, 4 billion, losing over childrenwear with $186 billion per year.

The most profitable companies

You might not be surprised by this, but the most profitable company in 2020, despite the pandemic and lack of runway shows, was Louis Vutton, which is under the umbrella of the Fendi Corporation. In 2020 alone, they made $15 billion and is now valued at $18.4 billion.

While sportswear isn’t as profitable as luxury wear, the second most profitable company in the world of fashion is Nike with a staggering 34,8 billion net worth. They are by far the most influential in the world of sportswear which is quite unsurprising.

With the 3^rd most profitable and intriguing company in the fashion industry being Inditex which is the owner of ZARA, Strativarius and Pill&Bear – collectively they’ve made more than 28, 2 billion in 2019 with the quarterly report for 2020 yet to come out.

How much clothing did the world export in 2020

Despite the travel and import restrictions due to the global pandemic, the world still manage to export and import more than $1,29 trillion’s worth of footwear. Would you wager to guess who sits at the top of manufacturing for the entire globe?

That’s right, China, the manufacturing juggernaut – it’s responsible for 50% of the footwear trade, which is more than $71.1 billion, Vietnam and Italy trail it in 2^nd and 3^rd place with $13.6 for Vietnam and $12 Billion for Italy, with the boot shaped country specializing in luxury and footwear export.

All three combined export more than 69.6% of the entire trade of clothing, fabric and fashion goods. The top five global exporters of footwear and clothing are at 4^th place to Indonesia with $5.59 billion and Germany, the European powerhouse, with $3.78 billion.

What does this tell us about fashion and clothing general

It gives us a nice perspective exactly how much we are capable to spend collectively on clothing and fashion in general. Of course if you want to look fashionable, without spending that much money, you can always take a look at printed t-shirt wear for the whole family for different occasion – unlike most companies, we do keep it local and give our best to provide you with the best.