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Manpower Dynamics. Data Intelligence

Fashion and Textile

Textile industry; Clothing industry; Fur, footwear and handbag industries; Trading, and testing services; ...

Covers :
1. Textile industry
   - Spinning
   - Weaving
   - Knitting
   - Finishing
   - Non-woven
2. Clothing industry
   - Under / night garments and knitted / crocheted underwear
   - Clothing exclude under / night garments
   - Knitwear exclude knitted and crocheted underwear
3. Fur, footwear and handbag industries
4. Trading - Import/ export of
   - footwear
   - fabrics
   - wearing apparel
   - cotton
   - textile fibre and yarn
   - luggage cases, handbags and similar articles of leather or leather substitutes
5. Testing services and laboratories

Fashion and Textile Inner Banner

Business Outlook

The slowing down global economy, global trade and geopolitical tensions have become the threatening factors to the fashion and textile industry in Hong Kong.  In particular, the Sino-US trade tensions have resulted in a double-digit drop in the trade value index and procurement index of the clothing industry throughout 2019, and therefore a downward trend in the export prospect of the industry in 2020 is expected.  Major geopolitical risks happened in 2019, such as cyberattacks, the China-US trade tensions, Brexit, US sanctions, and military conflicts, will continue to bring out a gloomy economic outlook in 2020.  These factors sum up to a softening of global demand and less optimistic business environment in the years to come and aggregate a more stringent business development strategy.

In face of the global economic challenges, smart factory running Industry 4.0 can better utilise resources and enhance efficiency.  Higher value-added items, such as sustainable clothing for circular economy, easy-care fabrics, functional and smart textiles, and athleisure wear, have become the top product development trend.  The trend of e-tailing is a must-go as online shopping is increasingly popular, third-party payment has become mature, the growth of technologies allows virtual sampling, virtual fitting, mobile snapshot for clothing and design of personalised clothing items at one go.