Industry revenue of retail sale of clothing in specialised stores in Ireland 2011-2023
Even though the Irish fashion industry has the largest number of retail chains in the country and has shown signs of strong potential for many years now, it has not been able to generate significant revenues. The situation is only expected to get worse in the coming years with the market estimated to fall from as much as 6.3 billion U.S. dollars in 2013 to just 3.4 billion U.S. dollars, a decade later in 2023.
According to Eddie Shanahan, Chairperson of the Council of Irish Fashion Designers, one of the main reasons for this is that many of the young domestic designers are opting to relocate to countries with stronger fashion industries such as Italy and Poland. Lack of adequate government support and poor governing policies have been cited as the main reasons behind this. Brexit related uncertainties, especially those related to key imports, customs and international talent, have created further problems in the form of a slowdown in consumer spending and reduced investor confidence.
According to Eddie Shanahan, Chairperson of the Council of Irish Fashion Designers, one of the main reasons for this is that many of the young domestic designers are opting to relocate to countries with stronger fashion industries such as Italy and Poland. Lack of adequate government support and poor governing policies have been cited as the main reasons behind this. Brexit related uncertainties, especially those related to key imports, customs and international talent, have created further problems in the form of a slowdown in consumer spending and reduced investor confidence.
