Increased by 7.5% compared to the previous year, turned to growth for the first time in three years

Children's clothing, men's suits, women's suits grew in order

The Korea Federation of Textile Industries (Chairman Lee Sang-woon, hereinafter referred to as ‘KOFOTI’) announced that the domestic fashion market size in 2021 has increased by 7.5% from the previous year to 43.35 trillion KRW.

This year's domestic fashion market has turned to growth for the first time in three years, attributed to increased revenge spending due to COVID-19 and the diversification of online channels by fashion companies.

2021 Domestic Fashion Market Size 43.35 Trillion KRW | 1 — Photo provided by the Korea Federation of Textile Industries

In 2021, the domestic fashion market showed growth in both the first and second halves of the year, with children's clothing, men's suits, and women's suits showing the most notable growth.

The children's clothing market grew due to the base effect of the previous year and increased consumption due to school attendance, as well as the expansion of the luxury children's clothing market. The market size increased by 16.8% from the previous year to 1.0648 trillion KRW.

The men’s and women’s suit markets saw an increase in demand due to the influence of new luxury suit brands. The men's suit market increased by 16.0% from the previous year to 4.5208 trillion KRW, and the women's suit market grew by 11.9% to 2.9839 trillion KRW.

2021 Domestic Fashion Market Size 43.35 Trillion KRW | 2 — Photo provided by the Korea Federation of Textile Industries

Additionally, the casual market, the largest sector in terms of market size, grew by 6.8% from the previous year to 16.6693 trillion KRW, driven by the popularity of easy wear and athleisure wear due to the spread of remote work.

KOFOTI will hold the "Korea Fashion Market Trend 2021 H2" seminar both online and offline on December 15, where experts will provide in-depth analysis of the domestic fashion market size and forecast.

The offline event will be held from 14:00 on December 15th (Wednesday) at the C3 Conference Hall on the 2nd floor of the Textile Center, and only a limited number of pre-registered attendees can participate.