It takes a lot of money to dress the globe. About $1.1 trillion to be exact.
From fast-fashion tops with a price tag of $4.99 to designer couture eveningwear fetching $20,000, the global apparel market is a highly segmented business with the largest share of retail sales — $350 billion annually — concentrated in the European Union, according to data firm Statista. The U.S. takes the number-two spot with about $225 billion in sales.
China is next with $150 billion, followed by Japan, Brazil and India. Here is the complete list:
Country: Apparel Retail Sales (U.S. $ billions):
1. EU 27 $350
2. U.S. $225
3. China $150
4. Japan $110
5. Brazil $55
6. India $45
7. Russia $40
8. Canada $30
9. Australia $25
10. Rest of the world $75
Source: Statista