Luxury Apparels Market Outlook: World Approaching Demand & Growth Prospect 2021-2026
iCrowd Newswire
04 Aug 2021, 19:19 GMT+10
Luxury apparels which can also be called as superior or Veblen apparels, includes leather, cotton, silk, woolen and many others garments such as coats, jackets, trousers, over-coats and other apparels which are comparatively expensive than the conventional garments. These type of apparel products are highly demanded by the higher and middle income population. In addition to this, the export potential of these garments is decided by the quality as well as uniqueness of the apparel. Since the historic times, only the rich could afford luxury apparels, but growing Asia Pacific economies and increasing disposable incomes will lead to generate significant demand for luxury goods in the forecasting years.
Annual garment exports up 99% yr/yr
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Iran exported garments worth over $40 million in the first seven months of current Iranian calendar year (March 20-October 21, 2020), the chairman of Iran Textile Exporters and Manufacturers Association (ITEMA) announced. Majid Nami said exit of foreign clothing brands country in the past two years, as well as the government s decision to ban clothing import, has thrown up a huge opportunity for Iranian producers.
Nami has previously announced garment production in Iran increased 70 per cent during the first eight months of the current Iranian calendar year (March 20-November 20, 2020), compared to the same period last past year. Garment production fluctuated from the beginning of this year but production situation has been satisfactory for producers. The share of Iranian brands in the market has increased significantly compared to the last year, Nami underscored.