By MICHELLE KUZNETZUKA/Reuters UNITED KINGDOM – MARCH 06: British clothing brand Christian Clothing & Co., Ltd., a clothing retailer based in the UK, holds a press conference on March 6, 2019 in London, England.
British clothing brands are increasingly losing money due to rising competition from Chinese and Indian brands, which have become the dominant global buyers of clothing in recent years.
(Photo by Paul Ransom/Getty Images) UNITED KING DOMINICA – APRIL 05: A woman is seen as a model in the United Kingdom at a clothing store in New York, United States, on April 5, 2020.
The United Kingdom is the world’s largest exporter of clothes to China, with about 40 percent of its apparel exports.
(AFP PHOTO / John Angelillo) UNITED STATES – FEBRUARY 05: Employees of Christian Clothing Stores stand at the entrance to a department store in Brooklyn, New York in this photo taken February 28, 2019.
In a recent report by research firm Euromonitor International, Christian Clothing said that its apparel sales dropped 3.6 percent in the first quarter of 2019, as China’s apparel market grew to $1.9 trillion from $1 trillion in the same period last year.
(AP Photo/Mark Lennihan) UNITED SATES – FEB.
5: A Christian clothing store is seen in this file photo taken on Feb. 18, 2018, in Los Angeles, California.
The apparel industry is expected to grow to $8.4 trillion by 2021, according to Euromonitors.
(Getty Images/David Becker) UNITED AFRICA – JUNE 30: People walk past the Christian Clothing store in a suburb of New York City on June 30, 2018 in New Jersey.
The clothing chain is a major seller of Christian items, and has seen sales plummet as Chinese brands take advantage of the growing popularity of American brands.
(Patrick Semansky/AP) UNITED KOREA – MAY 09: People line up for clothing at a Christian clothing shop in Seoul, South Korea, on May 9, 2018.
The Christian Clothing business has struggled to compete with a growing number of Chinese and American clothing brands, particularly after it closed several stores last year in response to competition from their domestic counterparts.
(Kyodo News via AP Images)