As our world becomes a global village, fashion has become a necessity. You cannot remain unaware of the fashion trends originating in one part of the world, no matter where you live. Whether it is the sense of styling, contrasting, adorning with accessories, or completing the look from head to toe, the fashion industry has become one force that unites fashion fanatics and enthusiasts worldwide.
Of course, it is a massive industry with millions of people working off and on the camera all year round, to attend to people’s various needs and start new trends. This industry is one of the most thriving ones worldwide. Let’s review some interesting statistics regarding this industry’s leaps.
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Global Revenue of Fashion Industry from 2012 to 2025
The above chart gives a glimpse of the steady and consistent rise in the fashion industry from 2012 to 2025. It is clear from the chart that this industry enjoyed a smooth and gradual rise from 2012 to 2018. During this time, the fashion industry increased from about $1,300 billion to about $1,700 billion.
However, as per the chart, the global revenue of the fashion industry significantly dropped during 2019 but started picking up pace again from 2020 onwards.
In 2021, this industry regained its previous (2018) revenue of about $1,700 billion. 2022 is expected to cross all the previous revenue records and reach about $1,800 billion.
The projected revenue of the fashion industry for 2023, 2024, and 2025 has crossed the $2,000 billion mark and set the bar high.
The Rise of the Various Fashion Industry Markets
This pie chart discloses the share of various fashion markets in the fashion industry, wherein womenswear holds the most significant percentage among all the fashion markets (35.5%). Menswear enjoys about 23% share of all the fashion markets. Following closely is the market of luxury goods (22.5%).
The three fashion markets occupying the minor shares in the various fashion markets are children’s wear (10.6%), sports footwear (5.2%), and bridal wear (3.3%).
Percentage of Share in the Global Exports among Leading Clothing Exporters
Among the top clothing exporters worldwide, China enjoys the most shares in global exports (30%). The European Union gives it tough competition by having about 28% of the worldwide export shares. Bangladesh is the third leading clothing exporter with about 7% shares in global exports. Vietnam is revealed to be only a tad bit behind Bangladesh, with approximately 6% of the global shares.
India, Turkey, the United Kingdom, Indonesia, and Cambodia are the global clothing exporters with up to 5% shares in the global exports.
Top Ten Leading Fashion Brands in the Industry
According to their revenues in billion dollars, the above graphical representation tells us about the top ten leading fashion brands worldwide. Nike is the top global fashion brand as its revenue crosses well over $36.8 billion. Louis Vuitton is the second leading global fashion brand.
Hermes and Gucci were closely matched in terms of their global revenues, so they are the third and fourth top global fashion brands. Other leading international fashion brands include Zalando, Adidas, Tiffany & Co., Zara, H&M, and Cartier.
Click here to read about the history of fashion industry and more interesting things about fashion.