Many industries would love footwear’s growth prospects
18/05/2018
Speaking at the start of the twentieth UITIC Congress in Porto on May 17, Mr Morin said he was confident the global shoe industry has a promising future. “Production is increasing almost every year,” Mr Morin said, “thanks to increases in the world’s population and in people’s spending power. Nevertheless, while some countries have an annual consumption rate of seven pairs of shoes per person, there are still many countries where the figure is one pair per person, so we have a growth potential that many industries would love to have.”
He made the point that the footwear industry will have to be “more responsible” if it is to prosper and that this will mean companies have to place environmental, social and ethical responsibilities at the centre of what they do. He accepted that this will mean important changes for many footwear manufacturers, but he said this will happen in the context of change in the wider fashion sector. “One thing I am sure of,” he concluded, “is that fast fashion is not sustainable.”
Share this story:
