The apparel industry is poised for substantial growth due to increasing millennial budgets, higher disposable incomes in developing markets, and a continued shift to online shopping. The apparel market’s revenue is expected to reach an astounding $1.8 trillion in 2024 and register a compound annual growth rate (CAGR) of 2.8% between 2024 and 2028. Leading the pack is the U.S., projected to dominate the market with a staggering $359 billion in revenue this year.
Amid these promising industry prospects, two well-known apparel companies, Levi Strauss & Co. (LEVI) and Guess, Inc. (GES), are riding high on the wave of their latest financial victories, which topped analysts’ expectations and sent their shares soaring.
