Poland Clothing & Footwear Report - 2014

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Poland Clothing & Footwear Report - 2014

This report covers the market developments in FY 2013, January-October 2014 and the data available as of November 2014

The clothing and footwear sales value increased moderately y/y in 2013, mostly reflecting the enlargement of retail chains. Nonetheless, after the decline recorded in 2012, the market demand for apparel and footwear recovered in 2013 and is expected to further pick up in 2014 and the coming years, alongside the expected improvement of the country’s economy.

The clothing production volume continued to decline on an annual basis in 2013, maintaining the downward tendency in the past years. Nonetheless, in January-October 2014 the situation showed some recovery. The y/y increase is mostly explained by low base comparison, yet it is notable that of the total clothing segments, five noted positive y/y performance, compared to only one in January-October 2013.

The foreign trade with clothing and footwear maintained positive annual performance in 2013, with the footwear segment recording the most dynamic growth last year both in terms of exports and imports. In H1/2014, exports of clothing increased at double-digit annual pace, while footwear exports’ growth tempered.

Key points:
• Clothing, footwear sales value increases moderately y/y in value terms in 2013
• Clothing production volume continues downward in 2013, recovers in Jan-Oct 2014
• Footwear production posts double-digit y/y growth in 2013, further rises in Jan-Oct 2014
• Major clothing, footwear companies report improving sales results in 2013, Jan-Sep 2014
• CCC to further expand, targets PLN2bn revenues this year
• 21 Concordia aquires 25% stake in Adesso


Table of Contents

Contents
Executive summary 4
Market overview 5
Clothing, footwear sales value increases moderately y/y in value terms in 2013 5
Clothing production volume continues downward in 2013, recovers in Jan-Oct 2014 6
Footwear production posts double-digit y/y growth in 2013, further rises in Jan-Oct 2014 7
Textile, clothing, footwear retail sales record dynamic growth in 2013, H1/2014 8
Number of clothing, footwear shops declines in 2013 9
Major clothing, footwear companies report improving sales results in 2013, Jan-Sep 2014 9
Foreign trade with clothing, footwear keeps growing y/y in 2013 10
Germany remains among top export destinations for clothing, footwear in 2013, while China is main import source 11
Exports, imports of textile products rise at double digit y/y pace in H1/2014 12
Footwear exports temper growth in H1/2014 12
Corporate news 13
CCC to continue chain enlargement, targets PLN2bn revenues this year 13
Redan expects profit from fashion segment, considers returning on Slovak market 14
21 Concordia aquires 25% stake in Adesso 15
LPP to further expand in Germany, Croatia, Serbia, develops new brand 15
Gino Rossi plans openings in Slovakia, Czech Republic 16
Monnari to grow organically, by acquisitions 17
Wojas reports higher revenues in Jan-Sep 2014 17

Table 1 Clothing output volume in 2011-2014 (thou units, y/y) 7
Table 2 Footwear production volume in 2011-2014 (thou pairs, y/y) 8
Table 3 Retail sales dynamics at constant prices in 2012-2014 (y/y, quarterly, FY) 8
Table 4 Major clothing, clothing accessories retailers by total operating revenue (PLN thou, latest reported fiscal year, 2013 or 2012, respectively) 10
Table 5 Exports of clothing and footwear in 2007-2013 (PLN thou, annual) 10
Table 6 Imports of clothing and footwear in 2007-2013 (PLN thou, annual) 11
Table 7 Foreign trade with footwear, headgear in 2010-2014 (EUR mn, y/y) 12
Table 8 Foreign trade with textile products in 2010-2013 (EUR mn, y/y) 12
Table 9 CCC S.A.- Selected financials in 2012-2014 (PLN thou) 14
Table 10 Redan S.A.-Selected financials in 2012-2014 (PLN thou) 15
Table 11 LPP S.A.-Selected financials in 2012-2014 (PLN thou) 16
Table 12 Gino Rossi S.A.- Selected financials in 2012-2014 (PLN thou) 17
Table 13 Wojas S.A.-Selected financials in 2012-2014 (PLN thou) 18

Figure 1 Market demand for apparel in 2007-2017f ($mn, annual) 6
Figure 2 Market demand for footwear in 2007-2017f ($mn, annual) 6
Figure 3 Wearing apparel production in 2007-2016f ($mn, annual) 7
Figure 4 Retail sales by structure in 2012-2013 (current prices, FY, % in total) 9
Figure 5 Number of clothing and footwear shops in 2007-2013 (number, annual) 9
Figure 6 Exports of clothing and footwear in 2007-2013 (PLN thou, annual) 11
Figure 7 Export destinations for clothing of woven fabrics in 2011-2013 (PLN thou, % of total) 12
Figure 8 Import countries for clothing of woven fabrics in 2013 (PLN thou, % of total) 12
Figure 9 Export destinations for footwear in 2011-2013 (PLN thou, % of total) 12
Figure 10 Import countries for footwear in 2012-2013 (PLN thou, % of total) 12
Figure 11 Foreign trade with textile products in 2010-2014 (EUR mn) 13

Number of pages: 18
Release Date: Fri, 05 Dec 2014