The BRICS+ Fashion Summit convenes leaders from 65 countries to promote decentralization and elevate regional fashion markets. Moscow hosts the Summit from August 28 to 30, providing a platform to address industry challenges and opportunities. Europe retains major fashion companies but faces mounting competition from China and other Asian markets. By the end of 2024 EU exports barely exceeded China's, with forecasts projecting China to lead in 2025. Bangladesh, Vietnam, Turkey, and India are increasing export volumes faster than the US. A European delegation and global designers will participate alongside Moscow Fashion Week, while academic and industry speakers will deliver lectures.
The industry is witnessing a major redistribution of influence. At the centre of this change is the BRICS+ Fashion Summit, a major international event that brings together leading voices from 65 countries to focus on decentralization and the rise of regional markets. Moscow hosts the Summit once again from August 28 to 30, offering a crucial platform to address the pressing challenges and opportunities facing fashion business.
Europe has been a leader in fashion for a long time, and the top 3 global clothing companies by market capitalization are all based in the EU. It is becoming increasingly challenging to compete with China and other Asian markets. By the end of 2024, combined EU exports barely edged past China's, with forecasts suggesting China will claim the number one spot in 2025.
" BRICS+ Fashion Summit is an excellent example of how large scale fashion events bring together an international audience that share a similar vision and mission is a major driver in cross cultural exchange and communication" says Susan Sabet, Board Member & Secretary General of Egyptian Fashion and Design Council, It is essential for Europe to keep up with these changes and engage with developing markets.
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