The clothing segment is among the most popular selling product categories in the retail industry. Clothing has varieties across different age groups and includes Menswear, Womenswear, and kid’s wear.
The clothing segment in Europe reached a market value of $391 billion in 2021, witnessing a significant increase of 18% from the previous year this was mainly on account of growth in the retail product categories as the world saw a recovery in the overall demand post-pandemic Covid-19 as both brick & mortar and online businesses resumed their operations after being under restrictions for the period of almost two years along with that more consumer spending on the lifestyle products. Thus, the clothing segment is expected to witness growth in demand going further on the back of the recovery from the pandemic.
The clothing segment in Europe has seen a compound annual growth rate of negative 1.6% from the period 2017-2021. The growth of retail clothing was impacted mainly on account of stiff competition from online marketplaces along with the outbreak of Covid-19 which further tapered the demand.
Key markets in the footwear segment include Italy, Germany, the United Kingdom, and France. With a major share being contributed by Germany and Italy to the region’s clothing market size. Many famous brands come from France and Germany have strong dominance in the clothing segment globally.
The major clothing players which have a strong position in the Europe clothing industry include Gucci, Chanel, Adidas, and Louis Vuitton.
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