Lebanon’s Apparel Industry: Stagnating Performance in 2014

While talented Lebanese designers were dressing worldwide celebrities and invading haute couture catwalks in the international fashion weeks, Lebanon’s apparel industry seemed to be fading over the past few years. This is certainly related to the country’s dwindling retail sector, which is one of the biggest contributors to Lebanon’s growth, constituting near 13% of total economic activity in 2013.

Mirroring the economy’s path, and following 2 years of bearish activity, the apparel sector in 2014 revealed a stagnating to declining performance that was associated to the country’s ongoing instabilities and political stalemates.

Performance in the Apparel Market in 2014: Mixed Indicators, yet Clothing Activity Stagnated

While most retail giants refrained from revealing performance-related information to the public, the general consensus is that business remained slow in 2014 and tourists were nowhere to be seen. Given this relationship, it is safe to say that the more dependent a store is on tourists the more likely they are to have witnessed a drop in sales. Accordingly, stores targeting a lower frugal local customer base were expected to have lost a slighter share of revenues than the upscale stores that are highly dependent on the Arab clientele.

 To read the full report, please click on the link below:

Calling All Shopaholic and Fashionistas It’s finally Time to Really Help the Lebanese Economy


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