Apparel & Accessories Retail Industry Description

Companies that retail men's, women's, and/or children's clothing and accessories.

Summary

In the global retail apparel industry, profits can rise and fall faster than a trendy hemline. The downturn in the economy in 2008 and in the early 2000s forced some consumers and businesses to tighten their belts and move in new directions. For shoppers, that meant heading to discount chains; for designers and department stores, it's reworking strategy to go where shoppers are spending money; and for manufacturers, it means moving production overseas where labor is cheaper.