Many of the world’s largest retailers are adopting more circular business models as fashion consumers display a shift toward more conscious consumption, especially among younger generations. According to thredUP’s Resale Report 2023, the global second-hand market grew 28% in 2022 to $177 billion and is expected to double in value to exceed $350 billion by 2027, with the second-hand apparel market growing three times faster on average than the global apparel market overall.
By 2024, 10% of the global apparel market is expected to be made up of second-hand apparel. Most of the change is expected to be led by Asia, followed by Europe and North America. The U.S. second-hand market is expected to be worth $70 billion by 2027. The resale market grew five times faster than the broader retail clothing sector in 2022, and it’s expected to grow nine times faster by 2027. In the U.S. alone, 52% of consumers shopped for secondhand apparel in 2022.
Bu hikaye Forbes Middle East - English dergisinin Oct 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Forbes Middle East - English dergisinin Oct 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Celebrating Emirati Businesswomen and Entrepreneurs on Emirati Women's Day
As part of the U.A.E.’s annual Emirati Women’s Day celebrations, the Abu Dhabi Business Women Council and the Abu Dhabi Chamber hosted an event on August 28, 2024, under the theme “We Collaborate for Tomorrow,” celebrating the role and achievements of Emirati women.
THE MIDDLE EAST'S TOP 100 HEALTHCARE LEADERS 2024
MENA’s healthcare landscape is evolving towards integration, marked by the rise of fully comprehensive ecosystems. Industry giants are setting future trends, driven by systems that thrive on data abundance, accessibility, and intersectoral collaboration.
SCOUTING FOR OPPORTUNITIES
Ayman Cheikh-Lahlou, Chairman and CEO of the Morocco-based Cooper Pharma, took the helm of the family-owned pharmaceutical company in 2005 and has seen business boom over nearly 20 years. Now, he’s exploring expansion opportunities in new markets.
TURNING THE TIDE
Irina Zaporozhets, President and General Manager for Eli Lilly Suisse S.A. in the META region is driving expansion, focusing on innovation and patient-centric care. As she navigates regional challenges, her commitment to expanding access to medicine remains at the forefront.
Supercharging AI
Armed with a newly raised 640 million, GROQ thinks it can challenge one of the world’s most valuable companies with a purpose-built chip designed for Al from scratch.
How Technology is Accelerating Digital Equality in Diverse Markets
The rise of smartphones and digital technologies has transformed our daily lives, contributing to the evolution of connected consumers.
Rare Fortune
Money manager JAMES LITINSKY turned a bad junk bond bet into a $400 million fortune. His MP Materials operates a strategic mine and will begin manufacturing supermagnets for electric vehicles next year.
The State of Mental Health in the Middle East
While mental health awareness is on the rise, the Middle East faces some challenges in providing care. Still, we're seeing some progress.
Big Breakthroughs
From gene therapy to nasal sprays, these were some of the most significant healthcare breakthroughs in the last year.
MENA's 5 Most Valuable Healthcare Companies 2024
The combined market cap of 57 healthcare companies listed on MENA's stock exchanges hit $83.7 billion on August 13, 2024, with the top five companies accounting for about 62.4% of the total market cap. These are MENA's five most valuable healthcare companies in 2024.
