RITIKA SHARMA / Emirates Business
Gone are the days when fashion was for grown-ups only. The little ones also rock, that’s what figures say.
Kids-wear market is estimated to hit US$173.6 billion by 2017, growing at a stable compound annual interest rate (CAGR) of 4.2 percent. According to Reference for Business report, there are over 1,000 international children’s fashion brands worldwide.
In the Emirates, factors influencing kids-wear market include economic prosperity and growing consumer confidence. A profitable segment of the apparel industry, it grew by 8 percent to reach AED5.5 billion in 2014, continuing to be dominated by a limited number of companies, with the top 10 players accounting for over 65 percent of value share.
Speaking to Emirates Business about the prospects of this segment, Ilham Abaas, Chief Strategy Officer of the Arab Fashion Council said, “Kids fashion is an extremely important market globally and even for UAE fashion industry. We (Arab Fashion Council) are encouraging local designers to look at this industry which is one of the biggest industries of the world. And designers in the Arab part of the world have not really captured this market as of now. We are taking the first initiative and you will see it at the Arab Fashion Week 2016.”
The UAE fashion industry has recently witnessed rising sales in baby and infant clothing because the trend of gifting is reinforced, especially for high value products.
Christina Franco, Dubai based fashion designer, who recently launched a kids collection under her brand name Tipsy Gipsy, told Emirates Business, “I believe it is a market with great potential as i have just recently experience myself, i have just recently launch the flamenco baby collection matching the adult one and it has been a total success.”
Christina said looking at the positive signs and the rate with which this industry is growing, she plans to “expand in that direction from now on.” Globally, the figures are no different. According to an article published by Mat Bodimeade
on children’s wear market, the amount spent annually on children’s clothing can vary dramatically from household to household, from under U$25 to several thousand dollars.
An average family, the report says spends US$107.28 on children’s clothing — US$123.79 for each girl, $90.77 for each boy. Households with an income under US$10,000 spend an average of US$24.67 on boys’ clothes and US$49.75 on girls’ clothes, while households that earn US$70,000 or more spend an average of $167.04 on boys’ clothes and US$216.57 on girls’ clothes.
“Parents want to see their children dressed well, and even the children are become very brand conscious. There’s an increase in activity in the market … It’s only going to get bigger and better,” Hema Joshi, who is the owner of Dubai based, ‘The Label Hema’ clothing line told Emirates Business.