German fashion: A review of 2015
The industry news outlet Textilwirtschaft has recently published their review of the last years in terms of revenues for brands and retailers in Germany. We think that this report gives valuable insight to all and we would therefore like to share it with you.
According to Textilwirtschaft the German fashion industry began the year 2016 with optimism as the last year has been a satisfying success.
The revenue in the sector has been estimated at about 12 billion Euro, that is a slight negative difference of 0.3% in comparison to 2014. Looking in more detail at what this means it becomes quickly evident that the main loss is due to relationships with the Russian economy where a lot of retailers have been hit hard (with a decrease of 30% in exports). In other segments or countries though the market has grown to equilibrate at a difference of 0.3%. CEO of GermanFashion Thomas Rasch clearly states that 0.3% can in no way be title a crisis.
As for international trading, the most important export countries remain Austria, the Netherlands, France and Switzerland. Even though the decline in trading has been roughly estimated at 30% Russia remains on position 10 in the ranking of export countries.As it was the case in the last year, the biggest chunk of import comes in through China. Next come Bangladesh, Turkey and India followed further down on the list by Pakistan. Pakistan has made it in the top 10 of import countries for the German fashion industry in 2014 and occupies position 9 in 2015 with an increase of 25%.
Problems like a decrease in profits and closing of stores and offices may be the case for some big players but it’s generally not the case for the whole industry as there are many German medium sized fashion businesses running strongly, the article underlines.