Apparel market in Latin America - statistics & facts

Taking into consideration the sheer size of Brazil and its economy, it is no surprise that the South American nation finds itself among the leading apparel markets worldwide, even surpassing Spain, home of the fashion giant Inditex. While Brazil is by far the leading Latin American country in the segment of women’s apparel, Mexico is a close second when it comes to the revenue of the men’s apparel market, generating roughly two billion U.S. dollars less than Brazil in 2022. In both segments, Colombia ranks in third place.

Argentina’s apparel market decline

One market that stands out the most in its recent development, is the Argentinian apparel market. Not only has it experienced a stark decline since 2018, but it is expected to further decline by 2027. This negative development can also be seen in the percentage that clothing and accessories make up of Argentina’s total direct retail sales, which amounted to only one percent in both 2020 and 2021. In comparison, Colombia’s clothing and accessories sector made up over 35 percent of the direct retail sales in 2021. In terms of Argentina’s trade balance in the apparel market, imports far exceed exports throughout the past years, creating a trade deficit in this industry. In addition, the clothing inflation rate in Argentina has skyrocketed in 2022.

Leading companies

International fast fashion companies, such as Shein, Zara, and Primark are not the market leaders in Latin America, where local apparel companies seem to dominate. This is the case with Falabella, the Chilean multinational retailer, who is considered to be the leading fashion retail company in Chile and Peru. Also in Brazil, their country’s own Lojas Renner leads the list, followed by several Brazilian footwear companies, including Alpargatas and Grendene, who own the famous flip flop brands Havaianas and Ipanema.
This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.
Published by Statista Research Department, Mar 19, 2024

Key insights

Largest apparel market in Latin America
Brazil
Number of H&M stores in Latin America
140
Nike's apparel revenue in Asia Pacific and Latin America
1.66bn USD
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