Key Insights
Essential data points from our research
The global apparel market was worth approximately $1.5 trillion in 2023
Fast fashion accounted for 10% of global carbon emissions in 2022
The average American buys 68 garments a year
Zara produces about 450 million items per year
H&M operates more than 4,800 stores in 75 markets worldwide
The sustainable fashion market was valued at $6.9 billion in 2021
Luxury fashion brand Gucci achieved 100% carbon neutrality in 2020
In 2022, Nike generated $46.7 billion in revenue
Adidas employed 59,258 people globally in 2023
Shein was valued at $100 billion in 2022
The global second-hand clothing market is expected to grow to $350 billion by 2027
Patagonia donates 1% of sales annually to environmental causes
Levi Strauss reported $6.17 billion in revenue for 2022
Brands & Retailers
- H&M operates more than 4,800 stores in 75 markets worldwide
- In 2022, Nike generated $46.7 billion in revenue
- Shein was valued at $100 billion in 2022
- Levi Strauss reported $6.17 billion in revenue for 2022
- Lululemon’s revenue in 2022 was $8.1 billion
- Uniqlo has over 2,400 stores worldwide
- ASOS offered over 85,000 products online at any given time in 2022
- VF Corporation, owner of brands like The North Face and Vans, made $11.6 billion in revenue in 2022
- Stitch Fix has more than 3 million active clients
- Puma operates in over 120 countries
- Fashion Nova has over 20 million Instagram followers
- 75% of fashion industry executives said digital presence is critical post-COVID
- Ralph Lauren operates 500 stores worldwide
- ASICS reported €3.5 billion in revenue in 2022
- Nordstrom has over 100 full-line stores across the U.S.
- Hermès had €13.4 billion in revenue in 2022
- Canada Goose pledged to stop using fur by the end of 2022
- Banana Republic has 400+ stores globally
- Gap Inc. generated $15.6 billion in net sales in FY2022
- American Eagle Outfitters had $5 billion in revenue in FY2022
- Mango operates more than 2,600 stores in 110 countries
- Converse sells over 100 million pairs of shoes annually
- Tommy Hilfiger is available in over 100 countries
- Abercrombie & Fitch Co. reported $3.7 billion in net sales in 2022
- Fashion brand COS is owned by H&M Group
Interpretation
In a global wardrobe bursting with billions in revenue, megastores, and digital dominance, fashion today isn’t just about what you wear—it’s a cutthroat catwalk race where data-driven threads strut across continents faster than ever, stitched together by algorithms, influencers, and a ferocious hunger for style at scale.
Consumer Behavior
- The average American buys 68 garments a year
- The average lifespan of a garment is about 2.2 years
- Over 65% of U.S. consumers consider sustainability when purchasing clothing
- In 2023, the average U.S. household spent $1,945 on apparel
- 84% of Gen Z respondents believe brands should support social issues
- Chinese consumers accounted for 38% of global luxury apparel sales in 2022
- 79% of fashion executives witnessed higher demand for casual wear in 2022
- Rent the Runway has over 11 million members
- The average fashion e-commerce site converts at a rate of 1.5–3%
- The average online return rate for apparel is about 25%
- 82% of shoppers expect fashion brands to align with their values
- 45% of consumers say brands should give them resale options
- The typical fast fashion item is worn only 7 to 10 times
- LL Bean’s return policy change in 2018 led to a 25% drop in excessive returns
- 1 in 3 young women in the UK consider an outfit ‘old’ after just one or two wears
- 70% of consumers in 2023 said they're willing to pay more for sustainable clothing
- 44% of Gen Z has bought clothing via social media
- 30% of clothing in wardrobes hasn't been worn in the past year
Interpretation
In a world where the average American buys 68 garments a year, wears each fast-fashion piece barely ten times, and 30% of their wardrobe gathers dust, the fashion industry is caught in a stylish paradox—where consumers demand sustainability and values-driven brands, yet still chase trends faster than a TikTok scroll.
Environmental Impact
- Fast fashion accounted for 10% of global carbon emissions in 2022
- Luxury fashion brand Gucci achieved 100% carbon neutrality in 2020
- Patagonia donates 1% of sales annually to environmental causes
- 73% of clothing ends up in landfills or is incinerated
- 60% of textiles used by the fashion industry are synthetic
- The average consumer throws away 81 pounds of clothing per year in the U.S.
- Fashion is responsible for 20% of global wastewater
- 92 million tons of textile waste are created each year globally
- 35% of microplastics in oceans come from synthetic textiles
- Burberry reduced product waste by 40% in 2023 vs 2020 levels
- Timberland planted over 10 million trees since 2001
- Diesel uses 30% less water in denim production due to new technologies
- Reformation aims for 100% climate neutrality by 2025
- Diesel’s denim recycling project has collected over 20 tons of garments
- Woolrich uses recycled materials in over 50% of its outerwear as of 2023
Interpretation
The fashion industry may still be stitching environmental damage into its seams, but as some brands tailor greener practices—from Gucci’s carbon neutrality to Timberland’s tree-planting spree—it’s clear that sustainability is trending harder than fast fashion itself.
Market Size & Growth
- The global apparel market was worth approximately $1.5 trillion in 2023
- The sustainable fashion market was valued at $6.9 billion in 2021
- The global second-hand clothing market is expected to grow to $350 billion by 2027
- The global sportswear market is valued at $384 billion as of 2023
- The value of the digital fashion market is projected to reach $187 billion by 2030
- The resale market is growing 11 times faster than traditional retail
- The direct-to-consumer fashion market is projected to reach $140 billion by 2025
Interpretation
As the $1.5 trillion global apparel industry sprints toward a tech-savvy, eco-conscious future—where second-hand treasures, digital threads, and direct-to-consumer clicks outpace old-school racks—fashion isn’t just changing outfits, it’s changing the entire runway.
Production & Supply Chain
- Zara produces about 450 million items per year
- Adidas employed 59,258 people globally in 2023
- Over 100 billion garments are produced globally each year
- Boohoo sources over 50% of its products from the UK
- Fast fashion brands can design and distribute new items in as little as 15 days
- Everlane commits to eliminating all virgin plastic from its supply chain
- The average cost of producing a basic T-shirt is $3–5
Interpretation
In a world where 100 billion garments are churned out annually—some in just 15 days and for the price of a coffee—brands like Everlane are trying to stitch conscience into an industry racing to clothe the planet faster than we can wear it.
