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          1. Apparel Accessories Manufacturing Industry Profile

            Report Page Length: 10-12
            Last Quarterly Update: 7/13/2020
            SIC Codes: 2323, 2339, 2353, 2381, 2385, 2387, 2389, 3151
            NAICS Codes: 31599
            Chapters Include:
            Industry Overview Trends & Challenges Industry Forecast
            Quarterly Industry Update Call Prep Questions Website & Media Links
            Business Challenges Financial Information Glossary & Acronyms
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            Excerpt from Apparel Accessories Manufacturing Industry Profile

            Companies in this industry manufacture apparel accessories such as hats, gloves, scarves, neckties, and belts. Major companies include BIOWORLD, Bollman Hat Company, New Era Cap, and Randa Accessories (all based in the US), as well as Hermes (France), Mainland Headwear (Hong Kong), and Mulberry Group (the UK). Global online fashion retail sales of hats, scarves, gloves, bags, and jewelry, is about $100 billion, according to Statista. China is the top country for apparel accessory sales. The US apparel accessories manufacturing industry includes 585 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $850 million.

            Makers of bags, footwear, eyewear, and jewelry, which are not included in this industry, are covered in separate industry profiles.

            COMPETITIVE LANDSCAPE

            Demand is determined by consumer tastes and the level of consumers' discretionary income. The profitability of companies depends in part on effectively controlling the costs of manufacturing, both in the US and internationally. Smaller companies can compete effectively by specializing. The US industry is concentrated: the top 50 companies account for about 80% of sales.

            Imports account for about 90% of the US market. The largest suppliers to the US are China, Mexico, Italy, Vietnam, and Bangladesh. Major export markets for US apparel accessories manufacturers include Canada, Mexico, Japan, the UK, and Australia. Exports account for about 40% of US production.

            PRODUCTS, OPERATIONS & TECHNOLOGY

            Major products include hats, which account for 18% of apparel accessories manufacturing sales; ...

             
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