There is a lot to look forward to in the New Year 2020, especially the fashion trend in the apparel industry. While the luxury market is expected to grow 4 per cent to 1.3 trillion euros this year, many of the players in this market may go digital, says a forecast by Team AOI. According to a report by global consultancy firm, Bain and Company, the year 2020 will witness the Chinese market driving the personal luxury goods market, as was seen in 2019 where the market rose to 282 billion euros this year, up from 262 billion euros in 2018. In the longer term, one out of two personal luxury goods are expected to be purchased by individuals of Asian origin, Bain predicted.
Industree Foundation, a Bangalore-based prestigious association which is going to soon complete 20 years of its inception, is aggressively working to build sustainable livelihoods by manufacturing textile products. With clients like Ikea and many others, the Foundation is also growing into apparel manufacturing. Team AOI interacts with the company CEO – Apparel, on overall strategy, challenges and achievements received so far. Also VF Corporation – one of the world’s largest apparel, footwear and accessories companies, has come up with their latest sustainability & responsibility report for using sustainable materials.