Canadian brands are focusing on creating wealth through the local fashion industry. Their emphasis is on non-manufacturing, high value-added parts of the global apparel value chain. This includes activities such as design, research and development, branding, merchandising, marketing, logistics and distribution.
Canadian brands have created more value on an absolute and per capita basis when compared with British brands and also trade at the highest average price-to-sales ratio, which is because of higher revenue growth rates. Canada has a growing pool of expertise in major industries such as technology. There are many opportunities for collaboration between fashion and other industries to drive innovation, particularly as it relates to textile research and development, branding and logistics.
Investments in Canadian private apparel and accessory companies have declined at 1.4 per cent since 2006. During the same period, investments in the United States increased 7.2 per cent. Being able to attract capital as a young designer is the first step toward building a big business, and Canada’s private investment community needs to wake up to the opportunity in fashion.
Over the past few years, the advent of new media platforms, a global shift in manufacturing to Asia and a new-found cultural awareness attributable to globalization have presented Canadian fashion designers with a variety of opportunities. These trends have enabled new avenues for international exposure and a chance to run leaner businesses operations.