Apparel Manufacturing Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 8/12/2024
SIC Codes: 2253, 2353
NAICS Codes: 315
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Apparel Manufacturing Industry Profile

Companies in this industry manufacture garments made from purchased fabric and from fabric they produce themselves. Major companies include Hanesbrands, Levi Strauss, Michael Kors, PVH, Ralph Lauren, Under Armour, and VF Corporation (all based in the US), along with Prada (Italy).

Global apparel market is expected to have a growth rate of 2.84% between 2023 to 2027, according to Statista. Overall sales are expected to make a full recovery, with growth likely driven by the US, China, and Europe, according to the 2022 State of Fashion report by McKinsey & Company.

The US apparel manufacturing industry includes about 6,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $10 billion.

COMPETITIVE LANDSCAPE

Apparel manufacturers compete on both price and fashion. Under many supply agreements, customers can cancel orders or return unwanted inventory. Companies with a competitive advantage are those that can successfully cater to consumer tastes while managing costs and securing beneficial contracts with clothing marketers.

Large integrated companies such as Levi Strauss and Ralph Lauren have sophisticated marketing programs to promote their brands. Small companies can compete effectively with large ones by specializing in a particular type of clothing, such as athletic wear, intimate apparel, or accessories. The US industry is?fragmented:?the 50 largest companies generate more than 30% of revenue.

Because of the lower costs to manufacture apparel abroad, the US imports more clothes than it makes ...

 
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