Fashion product sell out in developed world

 Fashion product sell out in developed world

Trendy clothes

Islamabad, 09 June: Most of the fashion product sell out in the developed world i.e. with USA and Europe accounting for just under half of global sales by value but massive majority of the cotton farmers and the bulk of global production of textiles and ready-made garments happens in the developing world.

While discussing any issue related to the fashion supply chain, it is important to be reminded that the textile and apparel industry is a very important contributor to the world economy.

The industry has one of the largest, longest, and complicated global supply chains spreading to every single country on the planet.

Global apparel consumption is estimated to be around $1.8 trillion making it around 2.3% of global GDP.

The global demand is forecast to grow at an annual rate of 5% per year as markets in China and other emerging countries expand.

The industry contributes significantly to export revenues of several countries: for example, nearly 85% of export earnings of Bangladesh come from readymade garments exports.

It is also one of the world’s largest employers as a sector. The industry employs between 60 to 75 million people globally. In India, the textile & apparel sector is the second largest employer after the agriculture sector.

However, the industry is afflicted with questionable working conditions- from inhuman working hours to lack of proper sanitation and drinking water, dreadful work environment and disregard for the workers’ health and safety, especially in the cut & sew operation, which is the most labor intensive and is performed primarily in low wage countries.

Some Major issues Globally

Over the last few years, there has been a significant increase in awareness of these issues globally including among consumers.

The consumer groups, as well as several human rights organizations, have been putting pressure on the brands and retailers to provide visibility on the working conditions. But so far, not much has changed.

Web Desk

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