Fashion

Islamic fashion market to be worth $327 billion soon

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By the time 2020 arrives, the Islamic fashion market is predicted to grow by 6% according to the Dubai Islamic Economy Development Centre (DIEDC). The Islamic fashion sector expenditure soared to $230 billion in 2014, making up 11% of the international fashion market.

However, by 2020 the industry will be worth around $327 billion. These figures are predicted by the State of Global Islamic Economy report which was published alongside the Global Islamic Economy Summit in 2015.

In comparison to rest of the fashion industry, which is cracking under financial difficulties due to global recession pressures, the Islamic fashion market continues to strengthen and expand.

Initially, the Islamic fashion industry set out to meet the needs of Muslims regarding modesty. However, now their ranges appeal to many other countries where modesty is a major factor in fashion. They have gained interest from many mainstream fashion players.

Chairwoman of the Islamic Fashion and Design Council, Alia Khan, also explained how the Islamic fashion industry entices people and how they are much more to the sector than what people see at face value.

The industry is unique in its right and can set a great example for the rest of the fashion world. They offer people a solution to modest fashion, which will help revolutionize the sector. They achieve a challenging task to create fashion that is elegant, classy and still allows people to dress with dignity.