Despite a global pandemic, supply chain issues and much more, the fashion industry continues to rope in consumers around the world. Revenue in the fashion segment (men’s, women’s and children’s apparel, footwear and accessories) is projected to reach $983.2 billion in 2022, according to Statista. Revenue is expected to show an annual growth rate of 11.14%, resulting in a projected market volume of $1.35 trillion by 2025.  

According to Licensing International’s 2020 Global Licensing Survey, fashion is the third largest licensed property type at $33.8 billion, with an 11.5% share. From 2019, sales had risen 4.8% over the previous year. 

“The rapidly increasing global population is one of the key factors driving the growth of the market,” notes ResearchAndMarkets, a market research company, in a statement. “The rising consumer demand for premium and branded apparel is also providing a boost to the market. Owing to the increasing expenditure capacities and changing lifestyles, parents prefer to purchase high-quality premium apparel to ensure the optimum comfort and safety for their child. Additionally, the emerging trend of matching outfits such as mommy and me and mini-me dresses, along with the introduction of clothing lines influenced by increasing exposure to celebrities, is positively impacting the product sales. Moreover, factors such as rapid urbanization, aggressive promotional activities by manufacturers, along with the development of the online retailing market that provides hassle-free shopping experience, while offering a wide range of options to the consumers, are projected to drive the market further.” 

Children’s fashion continues to be a growing economic category. According to Statista, revenue in the children’s apparel segment alone will amount to $263.3 billion in 2022, with a market growth of 2.93%. By 2023, that per-centage is expected to grow to 3.7%. In footwear, Grand View Research states that the global kids’ footwear market will grow to $59.2 billion, expanding at a compound annual growth rate of 8.2% over its forecast period.  

Growth in children’s fashion is thanks in part to companies that participate in consumer product licensing. The licensing industry (which includes categories like toys, video games, home décor as well as apparel and accessories) is expected to reach $338.7 billion by 2027, according to data from market research company ReportLinker. Companies like Ground Up aim to celebrate the love of characters through footwear by giving consumers brands they recognize through footwear they trust. 

“Ground Up’s initiatives to collaborate with their licensors on dual-branded collections has allowed the company to elevate their product and the demand for it,” says Karli Fabric, licensing and marketing director, Ground Up. “This concept of collaboration allows Ground Up to celebrate characters in a way that brings fashion to the forefront using higher-end mate-rials and executions to warrant a higher price point. Sitting alongside fashion brands in the kids’ section at retailers such as Saks Fifth Avenue, Journeys and more to come in the near future gives character footwear that ‘cool factor’ it deserves.” 

Characters, both classic and new, up the “cool factor” in fashion... 

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