The industry is witnessing a major redistribution of influence. At the centre of this change is the BRICS+ Fashion Summit, a major international event that brings together leading voices from 65 countries to focus on decentralization and the rise of regional markets. Moscow hosts the Summit once again from August 28 to 30, offering a crucial platform to address the pressing challenges and opportunities facing fashion business.
Europe has been a leader in fashion for a long time, and the top 3 global clothing companies by market capitalization are all based in the EU. It is becoming increasingly challenging to compete with China and other Asian markets. By the end of 2024, combined EU exports barely edged past China’s, with forecasts suggesting China will claim the number one spot in 2025. Countries such as Bangladesh, Vietnam, Turkey, and India are outpacing the US in export volume, highlighting the rapid rise of emerging markets. This evolving landscape makes the BRICS+ Fashion Summit more relevant than ever.
“BRICS+ Fashion Summit is an excellent example of how large scale fashion events bring together an international audience that share a similar vision and mission is a major driver in cross cultural exchange and communication” says Susan Sabet, Board Member & Secretary General of Egyptian Fashion and Design Council,
It is essential for Europe to keep up with these changes and engage with developing markets. Reflecting this, a delegation of European designers and industry leaders have travelled to Moscow, including Spain’s Sergio Puig, president of Athens Fashion Week, and Greece’s Tonia Fouseki, director of Mediterranea Fashion Week Valencia.
Source: BRICS+
Moscow Fashion Week– that runs along the Summit and is ranked among the world’s top five–will feature designers from Spain, South Africa, Brazil and China. Meanwhile, speakers from Tsinghua Arts and Design Institute, The Hague University of Applied Sciences, and other fashion institutions will deliver lectures at the Summit.
«I am eager to share my expertise with students and colleagues during the event. As a Brazilian researcher based in the Netherlands, I can provide unique perspectives on these issues, bridging insights from South America to Europe», said Luciana Duarte, lecturer at The Hague University of Applied Sciences.
The BRICS+ Fashion Summit’s trajectory over recent years highlights the expanding influence of BRICS economies well beyond fashion. Supported by strong financial growth and rapid expansion, the alliance has become a formidable economic force attracting ever-growing global attention.
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