Citing a survey, ESPN Crikey is reporting that the demand for new and cool apparel is expected to grow by at least 10% in the next four years, from $7.6 billion in 2018 to $9.6 in 2021.
The survey, commissioned by the United Nations, asked companies to assess the demand of their product and the consumer’s perception of it.
Nike, for example, expects that the clothing and footwear segment will be the most valuable by 2025, as women are moving into the home and are starting to purchase more clothes and accessories.
The top-selling brands are expected to be brands such as Zara, Gucci, Zara-Swiss, Nike, H&M, Tommy Hilfiger, and Gucci.
The clothing industry is expected by 2020 to generate $2.9 trillion in revenue, according to the report.