LONDON--(BUSINESS WIRE)--Although the European textiles and apparel market is experiencing a downward trend in the recent year, many major European textiles and apparel players still hold their strong positions in the global market. Details on several major textile and apparel markets in Europe, including Italy, France, and Spain are some of this week’s featured stories on BizVibe. BizVibe is the world’s smartest B2B marketplace and allows users to discover high quality leads, contact prospects, and source quotes. Register today to connect with over seven million companies around the globe.
Italian Apparel Industry Aiming to Strengthen Its Global Position
The Italian apparel industry has a well-established reputation for its premium fashion products in the global market. The total value of Italy’s apparel market was estimated at USD 36.6 billion in 2016, and is expected to reach roughly USD 42 billion by 2020.
After the consecutive years of decline in its domestic market due to the country’s economic downturn, the Italian government recently announced a budget allocation of €35 million to promote the country’s fashion and apparel industry as well as fashion exports in the international market.
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Fashion and Apparel Industry in France Remains Strong
The fashion and apparel industry in France is now valued at approximately €150 billion, or 2.7 percent of France’s GDP. The fashion industry in France has faced multiple challenges recently, such as economic downturn and several terrorist attacks, which have led to reduced domestic and tourist spending.
Although the domestic market for the French fashion industry is shrinking, the sales of French fashion products, especially luxury fashion items, still remain high in the global markets, particularly in emerging markets such as China and Japan.
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Spanish Textiles and Apparel Industry Welcomes Much-Needed Recovery
The Spanish textile industry is finally recovering as the number of textile firms stopped falling for the first time in nearly a decade, raising the country’s textile exports total by 7%. This recovery is largely due to the success of ‘fast fashion’ and the country’s economic rebound.
Almost 4,000 textile firms currently remain in Spain; this number is expected to remain stable for at least the next year. These surviving firms are focusing heavily on exports, which has helped create new business opportunities and markets for Spain to export their textiles and Spanish fabric.
Connect with the top textiles companies in Spain listed on BizVibe
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