Last year, the footwear and apparel industry dealt with many
sudden changes and difficulties, including a spike in cotton prices. In 2012,
changes are on the horizon. One development that the experts at Tompkins expect
to see is more footwear companies moving into China. This move is not being made
specifically to manufacture in China, but to sell to the market within the
country itself. There is ample opportunity for Western footwear companies to
fill in the gap. This is true especially among luxury brands, which are very
popular in China.
However, some expectations for the market are likely to come
from a major event this year: The 2012 London Olympics. Big brands in footwear
and sports-related apparel are going to be on the world stage at the games,
which is a great opportunity for these companies. Of all industries that could
be affected, the footwear and apparel industry will see the biggest demand hikes
from the games. It will be interesting to see how footwear and apparel companies
respond to this unique opportunity in 2012.
For more industry strategies to use in 2012, read the new
article by Tompkins experts, “Will
2012 Bring Stability to the Footwear and Apparel Industry?”
GoGoGo!
Jim
Photo Credit: Ömer Ünlü