Fashion Growth Opportunities City by City
If you’re in the apparel industry, emerging markets need to be part of your growth agenda. In too many cases, however, expanding into emerging markets is just shorthand for moving into the BRICs (Brazil, Russia, India, China). But the answer isn’t just to look at other countries; the critical point is that investments in growth need to happen at a city-by-city level. That’s because emerging-market cities are capturing most of the global growth in apparel. Some 80 percent of top growth cities for total apparel sales by 2025 will be in emerging markets. Together, these cities will enlarge world apparel markets by an additional $100 billion. (read related article: http://cmsoforum.mckinsey.com/article/fashion-sense-leading-apparel-companies-are-looking-to-cities-for-growth)
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Fashion Growth Opportunities City by City
- 1. McKinsey International Roundtable January 31st, 2013 Unleashing fashion growth city by city Nathalie Remy
- 2. McKinsey & Company | 1 Shanghai 26 3 New York 2 2
- 3. McKinsey & Company | Growth is granular 3 insights about growth… 2 Growth is shifting Growth is happening in cities What does it mean for you?
- 4. McKinsey & Company | AD 1 Evolution of the world’s economic center of gravity 3 1820 1950 2000 2010 2025 est.
- 5. McKinsey & Company | The same shift is happening in the women’s apparel market MID MARKET LUXURY 2004 2011 2025 Mature Emerging 4 +50% 25% 37% 55% 7% 14% 28%
- 6. McKinsey & Company | 5 An important but less talked-about trend… … the growing power of cities 600 cities = 65% growth ¾ of the top cities are from the emerging markets
- 7. McKinsey & Company | Rise of the mega cities… 6 From 25 to 60 mega cities ~1/4 of the global wealth Tianjin = Sweden
- 8. McKinsey & Company | Beyond the mega cities, middleweight cities are increasingly important 7 7Pune million population Harbin million population8 Luanda million population9 Puebla million population3 middleweights = Growth in the 400
- 9. McKinsey & Company | Some urban markets will be as large as countries… 8 Shanghai = Poland + Portugal Moscow = 4 Ireland New York = 3 Denmark Paris = Norway + New Zealand
- 10. McKinsey & Company | Growth concentration in top 600 9 Luxury apparel Consumer spending Mid market apparel Consumer goods 85% 62% 60% 40%
- 11. McKinsey & Company | … TO SUCCESS 10 What does it mean to your organization? FROM STRATEGY… Resource reallocation Offer tailoring Brand building Go-to-market model Organization Talent Local stakeholders
- 12. McKinsey & Company | “CityScope” 11 2,600 cities A proprietary methodology FashionScope in women’s apparel
- 13. Thank you WWW www.cmsoforum.mckinsey.com @McK_CMSOForum www.youtube.com/McKinseyCMSOforum www.slideshare.net/McK_CMSOForum Learn more at the Chief Marketing & Sales Officer Forum
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