Apparel and Textiles: Introduction
Companies in this industry create cloth by weaving, knitting, crocheting, or knotting.
Companies in this industry operate physical retail establishments that sell clothing and accessories.
This industry comprises establishments primarily engaged in spinning yarn, manufacturing thread of any fiber texturizing, and further processing into rope, fabric, or bags.
The Apparel and Textiles industry is Fragmented. The production in this industry is divided among a few different companies, however, no single firm has large enough share of the market to be able to influence the industry's direction or price levels.
Primary Demand Drivers
- Consumer tastes
- Comparative costs of manufacture in the U.S. and overseas
- Efficient operations
- The ability to secure contracts with clothing marketers
From the Blog
A collaboration between Supreme, a top-tier streetwear brand, and Louis Vuitton, a high-end fashion company, has produced a hoodie that costs upwards of $7 thousand. Another collaboration between Supreme and The North Face, a winter outerwear company, gave way to a $600 backpack. So what’s causing this uptick in prices for everyday items? Streetwear—the casual clothing of a style worn especially by members of various urban youth subcultures—is one of the world’s fastest growing industries, with an estimated value of $309 billion.
This is part five of a five-part blog series on the evolution of the textile industry over time.
Traditionally, manufacturing and resource processing has been done in a factory setting with labor needs relying on human capital. Labor trends tend to coincide with factors like wages, working conditions, and more recently, technology. So far, this series has looked at the evolution of the industry in an international context, starting with its role in the formation of the first international commercial highway. Textile production continued as an international industry into the 18th century. The Industrial revolution brought technological advances like the spinning jenny and cotton gin, marking the first instances of machines making their way into production. Next, we looked at labor conditions throughout the industry—specifically the working conditions in developed and developing countries. As we look toward the future of labor, advancements in the textile industry will continue to have international ramifications.
- Hoovers (Date Accessed: 6/1/2017)