Singapore apparel market stagnant

The Singapore apparel market growth has been virtually stagnant since 2010 according to a new market report.
The Singaporean apparel retail industry had total revenues of US$2.4 billion in 2014, representing a compound annual growth rate (CAGR) of 1.6 per cent between 2010 and 2014.
But the report, Apparel Retail in Singapore, forecasts CAGR of 2.9 per cent for the five-years from 2014 to 2019, which would drive the industry to a value of $2.8 billion by the end of 2019.
The womenswear segment was the industry’s most lucrative in 2014, with total revenues of $1 billion, equivalent to 42.9 per cent of the industry’s overall value.
The industry profile, one of a series of reports on Asian apparel retail markets, is available to purchase online.
It contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.

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