Global Apparel Conference Highlights China's Fashion Boom and Sustainable Future
11 December 2023, Mumbai
China's fashion industry is thriving, with domestic demand fueling growth despite a global slowdown. The 2023 Global Apparel Conference in Dongguan solidified this momentum, showcasing innovation and sustainability efforts.
Key takeaways:
- Permanent home: The World Fashion Conference will be permanently held in Dongguan, recognizing its global apparel significance.
- China's vibrant domestic market: Brick-and-mortar sales surged by 10.6%, with online sales increasing by 9.6%, highlighting a robust domestic market.
- Projected growth: The Chinese apparel market is expected to reach $313.8 billion by 2023, with a CAGR of 4.3%.
- Women's wear dominates: Women's wear holds the largest market share, with a significant volume of $169.5 billion in 2023.
- Sustainability as a driving force: The Chinese T&A industry embraces sustainability through initiatives like Climate Innovation 2030 Action and Carbon Neutrality Vision.
- ESG compliance is crucial: ESG criteria will be key for assessing corporate value, efficiency, and competitiveness.
- Trends shaping success: Athleisure, gender fluidity, inclusive sizing, access to nature, and sustainable fashion are key trends for the T&A sector.
- Adapting to a digital world: Digitization, AI-generated content, and smart production are shaping the future of the industry.
- Leading brands: Hongxing Erke and Anta Sports leverage AIGC and digital influencers, demonstrating the sector's dynamic evolution.
This report offers a comprehensive look at the booming Chinese apparel market and its commitment to a sustainable future. The insights shared at the conference will undoubtedly influence industry practices, fostering a more responsible and innovative landscape in the years to come.
