Fashion Designers in the US - Industry Market Research Report

Work the Runway: Growing Diffusion Lines and Designer Collaborations Are Expected to Boost Industry Revenue

Fashion designers in the US have struggled throughout the period. Designers in the industry faced several detrimental events, starting with COVID-19. The outbreak of COVID-19 in the US led to a nationwide shutdown of most businesses; this included fashion design studios and other retailers. The effect the pandemic had on fashion designers was multifold. First, shops had to close, so fashion designers could not operate through 2020. Simultaneously, any consumer demand for fashion industry products was likely siphoned by e-commerce retailers still allowed to operate. The second issue for fashion designers was, even when establishments were permitted to open gradually, most consumers who would buy the clothing or accessories were still likely working from home, dampening any returning demand. Revenue for fashion designers is expected to drop at a CAGR of 0.7% to $3.1 billion through the end of the period, with 0.9% growth in 2023 alone, when profit is expected to reach 10.3%. This industry comprises establishments that provide professional design services for such products and segments as fashion, clothing, shoes, textiles, fur, jewelry, costumes, lighting and floats. These services occasionally represent the design branch of a large retail chain, but they more often represent smaller design houses that provide fashion products to several different sellers. This industry does not include in-house design services. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.