The fashion luxury cashmere clothing market is growing at three per cent a year.
China is the world’s largest supplier of raw materials, accounting for about 70 per cent of cashmere in the world. China is also the largest consumption market. Although China is the largest cashmere garment manufacturer in the world, its own brand market share is very low. Most of them exist as OEM. This has led to local enterprises in China being at the bottom of the value chain.
Cashmere is a fiber obtained from cashmere goats and other types of goat. The fiber is finer and softer than sheep’s wool. Cashmere clothing is made from cashmere and cashmere yarn, including various sweaters, coats, trousers and other garments. Fashion luxury cashmere clothing mainly refers to a clothing product with customers in the middle and top income population.
The United States holds a 19 per cent share of the global cashmere clothing industry. The Asian region is the major manufacturing base due to the low labor cost and material cost. Most reputed brands have their plants or cooperative manufacturers in the region. Recent years have seen the global cashmere knitwear market outgrowing the luxury apparel market, with dressed-down, comfort-led trends like athleisure becoming the main driver of demand.