The fashion industry operates worldwide in a major way, this much is understood simply by taking a walk on any city street; ingrained as a pop culture tour de force it echoes throughout everyone in what they choose to wear and the advertisements we see on any billboard or magazine. It’s staggering to think that for the most part seven billion people around the world wear clothes and if one were to think of one pair of pants, a shirt and a jacket, that’s 21 billion items of clothing; it would take over 600 years to count each of these one per second. Yet all those items of clothing are a product of the fashion industry; this can’t be news to anyone. If that statistic shocks you, then you’re in for a treat as we chart some of the craziest out there statistics from the fashion industry in the UK and worldwide.
Immense Market Growth
In 2010, the fashion industry approached a value of $2,560 trillion and all during an international economic downfall; the size of the industry is expected to continue to expand and grow. Meanwhile the children’s fashion industry, according to articles and sources, alone will account for $186 billion by 2015 which marks a double figured percentage increase in five years. Although women’s clothing are without a doubt getting the lion’s share of exposure in many a fashion industry magazine, the value of the men’s market is only expected to be $200 billion behind the $621 billion figure projected in women’s clothing by 2014.
Fashion Industry Careers
The Chinese population accounts for a large majority of the world and as such it’s expected that their fashion industry creates countless careers; China’s textile production accounts for over the half of the rest of the world’s combined. Employment in the fashion industry has given millions upon millions of people jobs around the world; in the United States labour productivity doubled between 1987 and 2010 although Germany has been rated the highest paying for their labourers. At the end of the catwalk so to speak, fashion industry icons operate at all levels of production so employment can start at the bottom and lead to the head of international clothing brands; an entire economy of its own.
New York Fashion Week
The New York Fashion Week along injects $20 million in the US economy which is a staggering amount that can only get greater. Meanwhile a quarter of a million people attend the NY Fashion Week yearly which is amazing to think considering the size of the hall in which the main catwalk is constructed. The fashion industry has some fascinating statistics which can only become more unbelievable as the population of the world expands and new initiatives are introduced.