Shenzhen is Emerging as A Capital of Fashion with Eyewear, Gold Jewelry, Leather and Furniture Industry Clusters
SHENZHEN, China, Nov. 30, 2022 /PRNewswire/ — A news report from People’s Daily Online:
The 25th Shenzhen International Exhibition for Clothing Supply Chain and the 10th Shenzhen Original Design Fashion Week came to an end at the Shenzhen World Exhibition & Convention Center on November 23. The exhibitions featured more than 50 events covering the entire fashion industry chain and brought together more than 800 selected exhibitors from all over the world to Shenzhen, the fastest-growing city in China, which is striving to become an icon in the global fashion industry and an international fashion capital offering cutting-edge products.
Shenzhen’s fashion industry, which began with processing and manufacturing some 40 years ago, has formed a modern fashion industry cluster designing and producing products ranging from garments to watches, eyewear, furniture, leather, gold, and jewelry. Nowadays, Shenzhen is an important fashion industry hub with the most comprehensive product categories, the highest concentration of original brands, the most established support facilities, and one of the fastest growing in China.
Shenzhen is a focal point of the garment industry in China, with more than 2,500 brands, of which some 90% are privately held. Garment manufacturers in Shenzhen have a market share of over 60% in first-tier shopping malls in large- and medium-sized cities throughout China. In 2021, Shenzhen’s garment industry accounted for 10% of the country’s total sales.
Shenzhen is known as the “Watch Capital of China.” The city is home to seven of the top ten Chinese watchmakers, who collectively set the rigid standards for watchmaking across the country. Shenzhen currently produces 42% of the world’s watches, making it the world’s largest manufacturing base in the sector.
Shenzhen-made eyewear is sold in more than 120 countries and regions. It accounts for a share of 70% in the all-important European market. Currently, 125 million pairs of eyeglasses are produced in Shenzhen annually, generating an annual output value exceeding 10 billion yuan (approx. US$1.4 billion). The industry accounts for about 50% of the world’s total production of medium- and high-end glasses.
Shenzhen is also China’s leading furniture R&D, manufacturing, and export hub. The Shenzhen International Furniture Exhibition, now in its 24th year, is one of the largest exhibitions in its industry. Today, Shenzhen’s furniture industry has an annual output value reaching nearly 500 billion yuan (approx. US$70 billion).
China is the world’s largest footwear producer, accounting for about half of the world’s footwear production with an annual output of 13.5 billion pairs. At present, the leather industry in Shenzhen employs more than 200,000, generating sales of 50-60 billion yuan (US$7-8 billion) a year.
Shenzhen is also a landmark of China’s jewelry industry. It has the largest gold and jewelry cluster in China, with the highest level of development and the most complete industrial chain. The city is home to some 30 jewelry trading centers and wholesale markets of various sizes, more than 2,000 jewelry manufacturers employing over 200,000 workers, and occupying a 50% share of China’s gold and jewelry wholesale market.
A metropolis long known for its vitality, Shenzhen is now taking on a new moniker, the City of Fashion.
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SOURCE People’s Daily Online
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