Singapore is fast developing into a primary business hub for fashion apparels, gaining strong reputation among global brands. Key apparel brands and retailers from all across the globe have their offices in Singapore. Also, manufacturers who are based in based in Singapore have their production operations overseas.
Retail apparel industry in Singapore generated revenue of USD 1.8 billion in 2008 building a CAGR of 6.8%. In 2009, the industry generated total revenue of USD 1.9 billion with a CAGR of 7.2%.
Kidswear market alone generated USD 385.2 million in 2009, for a CAGR of 6.7% for the period 2005-09.
Singapore's apparel industry is building a strong foundation in the global market duly supported by its Government, and its fashion designers.
Today, it is recognized as the second largest fashion apparel hub in the Asia Pacific, next to Hong Kong. Total sourcing volume through Singapore is approximately USD 2.5-3 billion.
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Fibre2fashion News Desk - India
marketing@alchempro.com
