Why are some of the best-selling garments made in China?
China is home to some of fashion’s most influential brands, but the country is also home to a rapidly expanding garment industry that is becoming increasingly important to global brands.
The textile industry in China accounts for nearly half of global production, but is rapidly growing at a rapid pace, according to the U.S. apparel and textile trade association, FSCO.
And while the country has a thriving garment manufacturing sector, the industry has struggled to catch up to global trends, including in textile manufacturing, which is increasingly dominated by Chinese factories.
The growth of the Chinese garment industry is the result of a number of factors, from the government’s focus on economic growth and modernization, to new regulations and stringent standards.
China’s textile exports grew by nearly 30% last year, according the World Bank.
And the country now has a higher per capita textile export value than any other country, with $3.5 billion in 2011, according FSCOs data.
While the U., U.K., France, and Italy have the largest textile exports, China’s industry is growing faster than the others.
According to the FSCA, China was the second-largest source of textile exports last year.
However, China is still a large exporter of apparel and other textiles to the United States, which accounted for more than half of the total in 2011.
In fact, China now accounts for more apparel and textiles than any of the U, U. UK, France, or Italy combined.
“It’s very, very important to our companies to have global reach and reach global brands,” said John Wojcicki, global head of merchandising and apparel at FSCo.
“We have to be very cognizant of where the global market is going and how we can leverage our presence in those markets to support the growth of our global business.”
Chinese manufacturers have made an increasingly strong case for their presence in the U and U. K. markets, citing the country’s high productivity and skilled workforce.
According the FSM’s latest survey, China has become a top destination for textile production in the United Kingdom.
The U. S. apparel industry is currently home to one of the highest textile production costs in the world, with a total of $2.3 trillion, according data compiled by Bloomberg.
According Wojczynski, textile production has also become more competitive as the demand for textiles increases.
“The growth in demand is the consequence of the global economic climate, and it has made it very competitive for Chinese manufacturers,” he said.
“So, the growth in the textile industry is really a consequence of globalization, globalization, and globalization.”
China has also been a major market for American fashion labels in recent years, with brands like Tommy Hilfiger, Banana Republic, and Louis Vuitton all making significant investments in China in recent times.
But while the American apparel industry has been growing steadily in recent decades, it’s still a relatively small market compared to the Chinese textile industry, which represents more than a third of the overall global textile industry.
The China-U.K. Free Trade Agreement is an example of how globalization is helping to support China’s domestic textile industry while also opening the market to the world’s second-biggest economy, according Wojciksi.
“There’s really no reason why the U: U.k. textile trade could not grow at a higher rate than the Chinese, given the global context,” Wojznicki said.
The global textile market is also expected to continue to grow, Wojsins estimates.
“I don’t think there’s any reason why we can’t see a significant rise in Chinese textile exports,” he added.
“But I think it’s a question of whether they can maintain that growth for a long period of time.”
And while Wojskich and Wojcki say that they would love to see American companies grow more globally, they also say that the U.: U. Kingdom textile market needs to grow by 70% to be competitive with Chinese competitors.
So, to compete, they say American companies need to be focused on the global markets and be able to take advantage of emerging markets like China and the developing economies.
“If we want to grow at all, we have to start investing more globally,” Wajcicky said.