Apparel Online India Issue 1-15 March '18 | Page 12

WORLD WRAP
Europe on the verge of retail growth, finally!
Are the manufacturers ready for the
next phase of boom?
A
fter many years of remaining on the
backfoot, the EU economy finally
looks to be on an upward projectile.
2017 can safely be considered as the
turnaround year for the economy, with
positive news on many fronts auguring
well for the future. The recovery
remained consistent throughout the
year and was in high gear in the final
quarter of 2017, as exports grew
considerably in November and the
unemployment rate fell to a multi-
year low in October. Significantly,
the FocusEconomics panel raised its
GDP growth forecast for the fourth
consecutive month and now sees the
Eurozone growing at a strong 2.2% in
2018. Ironically, the Euro area economy
is enjoying the strongest period of
economic growth in more than a decade,
despite lingering political uncertainty.
According to the recently released –The
FocusEconomics Euro Area Report –
Ireland, Latvia and Malta are forecast
to be the fastest-growing economies in
the Euro area this year, expanding at
rate of 3.8% or above. Conversely, Italy
will be the region’s slowest-growing
economy, with a forecast of 1.4%
ESSENTIALS
Consumer demand by product type
There are
opportunities
in sportswear
and athleisure
categories, with
garments offering
performance
benefits such
as breathability,
moisture wicking,
multiway stretch,
or waterproof,
quick-dry and
smart fabrics
that can measure
body metrics,
having a definite
edge over regular
garments.
Women’s and girls’ apparel
is the largest segment,
worth € 135 billion in 2017
and accounting for 38% by
value or 20% by volume.
Men’s and boys’ apparel is
the second-most valuable
at € 90 billion in 2017,
accounting for 25% by
value or 10% by volume.
Underwear is third at € 48
billion, 16% by expenditure
or 25% by volume.
Hosiery is valued at € 16
billion, 5% by expenditure
or 23% by volume.
Sports and swimwear are
worth € 9 billion, 3% by
expenditure or 2% by investing
in innovative processes that
consume less water or dyestuffs
and generate less waste as
many retailers have committed
to 100% sustainably sourced
materials within the next
decade.
12 Apparel Online India | MARCH 1-15, 2018 | www.apparelresources.com