The new US tariffs will have a far-reaching impact on the globalised fashion industry. The US market faces higher prices, supply shortages, and shifts in consumer behaviour; while Chinese companies will need new export markets for their surpluses, redesigning the global trade landscape. Moreover, brands in the US and beyond will explore sourcing diversification strategies to mitigate future risks. This article looks at trade dependencies to understand the multiple implications of the tariffs on the fashion industry, from pricing to sourcing strategies and discusses how fashion players can build resilience in times of uncertainty.
In recent years, Levi Strauss & Co has experienced an uneven performance, with flat sales in 2023 and continued stagnation across most markets in 2024, including declines in key markets like the US and France. In response, the company discontinued its footwear line in 2024 to refocus on its core apparel business. This strategic shift is aimed at revitalising growth and improving profit margins, which have been under pressure.
What’s the potential impact of Trump’s policies across industries and economies? Stream this webinar to examine four major concerns right now: tariffs, migration, deregulation and consumer demand.
2024 was a challenging year for Nike Inc, with global sales declining in both apparel and footwear. The decline in its primary product category, coupled with shifting industry and macroeconomic factors, highlighted the need for a strategic re-evaluation across the business. Nike Inc is already taking active steps to address these challenges.
Since 2019, Shein has grown explosively to rank as the world’s fourth largest apparel brand by 2024, generating USD21 billion in sales (fixed 2024 exchange rates), with 35% from the US. Amid evolving US trade policies and intensifying competition from both Chinese rivals and Western giants, Shein is pivoting strategically: strengthening its footprint beyond the US, diversifying its supply chain, and refining its pricing model to adapt to the elimination of de minimis trade exemptions.
Lab-grown diamonds (LGDs) have emerged as a significant player in the jewellery market, with global sales reaching nearly USD9 billion in 2024. This rapid expansion has prompted both opportunities and challenges for jewellery brands. As the market evolves, understanding the dynamics of LGDs is crucial for stakeholders to navigate this transformative period effectively.
Global consumers have been trying to live sustainably in recent years, but modern life presents significant challenges. The fast fashion boom, driven by e-commerce, has been highly successful but at significant costs to the environment. This creates a paradox: consumers are increasingly concerned about the environment but continue purchasing fast fashion products that they know are highly polluting and wasteful.
From 2018 to 2023, US third-party (3P) marketplace sales outpaced overall e-commerce sales growth, driven by evolving consumer behaviour, rising living costs, and the emergence of new players, particularly China-affiliated platforms like Shein, Temu, and TikTok Shop.
As the first generation to be fully born in the 21st century, they are growing up in a world marked by rapid technological advancements, social changes, and environmental consciousness and while they do not yet earn their own money, they’re already very influential on their parents’ spending decisions and by 2040, they will become the largest generation of active consumers. Connecting with these younger consumers becomes therefore a strategic decision to ensure one’s business future.
With the current uncertainty, fashion businesses might be tempted to reduce sustainability investments. But regulation is still changing in various parts of the world and in the current context of economic challenges and consumers seeking value, fashion labels should position themselves as more responsible and show their efforts to reduce their negative impact on the environment.
The Nordic region's challenging economic conditions have lowered consumer confidence and deepened anxieties around financial security. In response, fashion retailers have leaned heavily on frequent discounting and expanding outlet offerings to stimulate sales throughout 2023 and 2024, catering to a consumer base that increasingly prioritises high-quality, branded goods at more accessible price points.
High-profile events such as the FIFA Women's World Cup and WNBA games have significantly increased viewership, alongside expanded media coverage and social media visibility. The heightened interest in women’s sports has fuelled sales of women’s sportswear and these products outperformed men’s over the last five years. Despite the better performance, gender gaps persist in the sports world, offering opportunities for those who want to invest in this expanding segment.
In the face of ongoing macroeconomic uncertainties, the latest eyewear data published by Euromonitor International confirms a mixed outlook for the global eyewear market. In the near-term signs of progress are evident. In this article, we have identified five key opportunities as companies rise to the challenge of bouncing back stronger in 2025 and beyond.
The US apparel and footwear industry demonstrated resilience during the pandemic, recovering faster than the global market in 2020-2021. However, since 2022, rising inflationary pressures have slowed its growth compared to the world market, though it remains the largest, holding a 23% global share.
For the first time ever, the Paris 2024 Olympic Games will feature an equal number of female and male athletes, which is expected to increase fan interest and opportunities for women and girls to participate in sports. In recent years, women’s professional sports fandom and women’s participation in athletics have been on the rise, leading to opportunities for sportswear brands to appeal to women’s sports fans and female athletes alike through sponsorships, product launches and event activations.
After re-evaluating their priorities during the pandemic, consumers continue to invest in taking care of themselves; both their bodies and minds. This impacts the way they consume and the products they use, opening new opportunities for brands that innovate and release products and services promoting body positivity, sustainability and simplicity that create a feeling of comfort and enhance the mood.
Despite the challenges faced since the pandemic, the Latin American fashion industry has proven to be resilient. By 2022, sales had surpassed 2019 levels, both in dollar and unit terms. The pandemic brought retail shifts to the regional industry benefiting retail e-commerce the most: this channel’s share jumped from 5% in 2019 to 14% in 2023. However, physical stores are still appealing to consumers in the region, forcing brands to carefully think their omnichannel strategies.
As Global Fashion Agenda’s Global Fashion Summit 2024 is about to take place in Copenhagen during 21-23 May, Euromonitor International looks at the EU Right to Repair and how, more generally, the regulation shaping up in Europe is increasingly trying to limit high-volume fast fashion models and pushing for added-value services such as repairs, rental and resale to drive circularity in fashion.