What Do Asian Markets Have in Store for Fashion Lovers

Fashion is not a basic need, but needed by everybody! The global fashion industry is worth trillions of dollars. Textile business is worth almost USD 655 billion. Apparel sectors constitutes of 57 percent of this number. It is a huge industry. It provides employment to a number of people around the world. Asian fashion market is emerging in large parts. But it can be said that it is progressing at a rate faster than the traditional fashion markets like France, Italy, UK, or USA. It is expected to rule the North American and European markets in a short span of time. Its mere apparel retail industry is worth USD 452 million. Asian fashion markets are emerging at a rate faster than ever! It has a lot in store for fashion lovers. There is no doubt to the fact that the Asian fashion markets were far behind the North American and European markets, initially. But we can see significant changes taking place. Changing consumer tastes can be regarded the main reason. Japan, in eastern Asia, was a major hub for fashion lovers from the very beginning. Its fashion industry was worth USD 1001 billion in the year 2000. It still retains its charm in the world market. In the year 2010, its textile production increased by 111.6 percent. Hong Kong is another tradition fashion market situated in the south of China. Its pride lies in its fashion shows and its novel fashion industry. Surveys reveal that Japanese had a high standard of living from a pretty long time. They had ample of money to spend on fashion. They portrayed their image as fashionable young people before the world, especially in the year between 1952 and 1958. On an average, Japanese spent almost 7 percent of their income or even more on clothing and footwear. Uniqlo, a major apparel retail brand, attained popularity all over the world. Hong Kong has been ranked as a fashion capital of the world, many times. Its fashion industry is mainly influenced by the Chinese fashion market, as it is ruled by the People's Republic of China. It has a well developed fashion products manufacturing industry, retail industry, and frequently organizes internationally acclaimed fashion shows. The concept of street fashion was popularized by Japan. This unique blend of current and traditional fashion was adopted all over the world. Its youth culture is widely acclaimed and accepted. On the other hand, Hong Kong Fashion Week has remained the worlds most favorite from very early times. Some of the best designers of the world participate to portray their talents in this event.