Developing guidelines for the modest fashion sector
20 Oct 2015
Insight
Salaam Gateway
The modest fashion industry is in its relative infancy compared to other pillars of the Islamic Economy such as halal food and Islamic finance, with most of its development to date being very recent and propelled by online e-commerce companies that only have short histories. However, with M
uslim spend on clothing and apparel estimated at $293 billion in 2014, and reaching 12 percent of global expenditure, this is becoming an increasingly sizeable and significant market not only in terms of revenues but also in terms of raw material demand, environmental impact and employment.
Afia Fitriati, DinarStandard Senior Associate